‘One Top’ K-pop platform was born… Platform, distribution, and content collaboration with YG
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Provided by Big Hit Entertainment. Resale and DB prohibited]
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(Seoul = Yonhap News) Reporter Kim Hyo-jeong = BTS’ agency, Big Hit Entertainment, will take over Naver V Live, a K-pop competition platform, and form a partnership with a large agency, YG Entertainment.
Big Hit held a board meeting on the 27th and made a resolution and publicized the agenda for subsidiary beNX to take over Naver’s VLive business unit. Naver will invest a total of KRW 411.8 billion in BNX to acquire a 49% stake and become the second largest shareholder.
Through this, we plan to create a new global fan community platform that integrates users, contents, and services of Weverse and VLive, the fan platform operated by BNX.
In addition, at the board meeting of the board of directors on the same day, Big Hit also decided on an agenda to invest a total of 70 billion won in YG Plus, a subsidiary of YG Entertainment, such as 30 billion won for Big Hit and 40 billion won for BNX.
Big Hit acquired 4864,000,565 shares of YG Plus, and after acquiring the shares, Big Hit’s share of YG Plus becomes 7.7%. BNX will acquire 6486,000 shares of YG Plus and hold a 10.2% stake.
This is a method of acquiring some of the stocks held by YG Entertainment and former YG CEOs Yang Hyun-seok and Yang Min-seok, as well as new shares issued through a paid-in capital increase allocated to a third party. The expected date to acquire stock is on the 4th of next month.
Big Hit, BNX, and YG Plus announced that they agreed to lay the foundation for strategic collaboration through this investment and to cooperate in various business areas such as platform, distribution, and content.
BNX operates not only Weverse but also Weverse Shop, a fan commerce platform. YG Plus is a company that conducts music and music distribution and MD business.
According to the announcement of YG Plus, YG Plus will distribute the albums and music of Big Hit Entertainment and its affiliates for the next five years. Previously, the albums of singers belonging to Big Hit such as BTS were distributed by Dream Earth Company.
YG Plus collaborates on the planning and production of the artist MD under Big Hit, and supplies the MD of the artist under YG to the Weverse platform. YG announced on the day that “we will expand and expand its artist global membership-related business.”
Accordingly, it is expected that YG artists, including Black Pink, will enter Weverse and further join the integrated platform with VLive.
It also announced that it will create synergy by utilizing various artist IPs (intellectual property) in a wide range of business sectors covering the entertainment and lifestyle field.
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YG Plus added meaning as “the two companies that have been aiming for the best in their respective fields have created a new era of cooperation.
Big Hit said, “I look forward to the synergy that YG Plus, which has a strong network in various fields such as distribution and MD production, and Big Hit and BNX, which have strengths in the areas of artist IP and platform, will create together.” We will grow together through various collaborations that will affect the overall lifestyle.”
The integration of VLive and Weverse is expected to create a K-pop platform with overwhelming influence. The strategic partnership between Big Hit and YG, which has global K-pop boy group BTS and girl group Black Pink, respectively, attracts attention as an unusual move in the entertainment industry.
It is also understood that Big Hit, which raised enormous funds from listing on the stock market last year, is trying to expand its influence in the industry by successively launching’big deals’.
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2021/01/27 22:43 sent
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