As expected, pop star Ariana Grande has officially joined the Weverse superfan app, operated by K-pop giant HYBE, on Monday (July 22).
Grande’s arrival on the platform, confirmed via a social media post, comes at a crucial time for Weverse, which has seen a decline in users and revenue in the first quarter of 2024.
Grande’s official Weverse profile can be seen here.
HYBE’s Q1 earnings report revealed a 12.1% year-over-year drop in revenue, with the “artist indirect-involvement” segment, which includes Weverse, experiencing an even steeper decline of 18.3% to KRW 143.94 billion ($103.6 million).
This slump coincides with the ongoing hiatus of BTS, HYBE’s top-selling group, highlighting the platform’s dependence on the boy band’s activity. Weverse’s monthly active users (MAUs) have fallen to 9.2 million, erasing over a year’s worth of growth.
Despite these challenges, Weverse secured an investment from Universal Music Group (UMG) earlier this year, strengthening a 10-year distribution deal for HYBE’s music.
The addition of high-profile artists like Ariana Grande to Weverse signals that HYBE remains optimistic about the future of the app. Grande’s extensive global fanbase will likely inject new life into the platform and potentially reverse the downward trend in user numbers. Her presence on Weverse is part of an apparent strategy to diversify the platform’s artist lineup and attract a wider audience.
The success of this venture hinges on Grande’s active participation and the creation of engaging content that caters to her fanbase.
Ariana Grande dominated the charts in March with her latest album, eternal sunshine. It debuted at No. 1 on the Billboard 200 chart, marking her sixth chart-topping album. This wasn’t just a US phenomenon – eternal sunshine also soared to the top of the Spotify Global Top Albums Chart. Additionally, the album conquered domestic charts in the US, debuting at No. 1 on iTunes, Apple Music, Billboard Top Album Sales, and Top Streaming Albums.
“Ariana Grande and HYBE [America], led by CEO Scooter Braun, look forward to continuing their long-standing business partnership and pursuing creative opportunities in Weverse and REM Beauty,” said reps for Ariana Grande and HYBE in a statement issued to MBW in June.
Back in March, Joon Choi, President of Weverse, said “the potential for growth in the superfan business and economy is limitless.”
“The key is to be able to fulfill the needs of fans and artists, not only in K-pop but also in other genres in the future, and the platform that best does that will lead the market,” the executive said.
Industry analysts are now closely watching to see if Grande’s arrival and the comeback of BTS member Jimin can reverse Weverse’s downward trend. Jimin is slated to release his sophomore solo album, MUSE, following the success of his 2023 debut, FACE. Notably, TikTok launched an in-app hub for Jimin last week to promote his new album, which is expected to drive significant fan engagement. Jimin is the latest artist to receive a dedicated in-app hub on TikTok following the in-app experience created for Taylor Swift‘s The Tortured Poets Department in April.
Music Business Worldwide
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