Universal Music Group has said it will join a livestreaming platform set up by K-pop's major record labels.
Universal - the world's biggest music label - represents superstars such as Taylor Swift, Rihanna and Lady Gaga.On Tuesday, Universal Music said it would invest in the platform launched last year by Big Hit Entertainment, the company behind K-pop superstars BTS.
YG, the record label representing Blackpink, is also investing in the platform - called VenewLive.
Big Hit set up VenewLive last September as part of a joint venture called KBYK Live.
Following the investment, a statement by the record labels said VenewLive now has with ambitions "on a global scale".
South Korean pop music (K-pop) has grown massively in popularity on a global scale. Last year BTS became the first K-pop band to have a number one on the US Billboard charts.And all-girl group Blackpink, whose lavish videos regularly attract millions of viewers, set a new record last year for the biggest music video premiere on YouTube
A total of 1.65 million fans tuned in for the unveiling of their new song How You Like That, breaking a record set by BTS in February.