WeVerse Under Fire for Mandatory Subscription Model Taking Up to 60% from Music Labels
WeVerse, Hybe's fan platform, is facing criticism for implementing a mandatory digital membership service that requires partner labels to participate and share subscription revenue.
The new service, launching December 1st, affects over 130 music labels and introduces several key changes:
- Monthly subscription model ranging from $2-4
- Revenue sharing split: Labels receive 40-70%, WeVerse takes 30-60%
- New features include offline access, ad-free streaming, and higher-quality videos
Businessman speaking at microphone
Labels are expressing concerns about:
- Forced participation in the membership program
- Unfavorable revenue sharing terms
- Limited alternatives due to WeVerse's market dominance
- Platform dependency for fan marketing
WeVerse currently hosts 152 teams, with 137 being non-Hybe affiliated, and boasts 10 million monthly active users. The platform's dominant position in K-pop fan engagement makes it difficult for labels to opt out, despite disagreements with the new terms.
Democratic Party Representative Lee Jung-mun has called for the Fair Trade Commission to investigate potential monopolistic practices and unfair treatment of affiliated companies using the platform.
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