SEOUL, February 10 (Yonhap) – K-pop giants Big Hit Entertainment and YG Entertainment, as well as global music powerhouse Universal Music Group, have established a partnership to promote a dedicated live streaming platform. to help artists break into the world market, the companies said Wednesday.
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Big Hit, the agency for global sensation BTS, said YG and Universal have agreed to invest in KBYK Live – a joint venture established by Big Hit and US online streaming service provider Kiswe.
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With the deal, the three companies plan to feature their artists and a host of musicians on VenewLive, a live streaming platform operated by KBYK Live, to help them reach a global audience.
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The move is expected to strengthen their artist portfolios, which include top-notch K-pop artists like BTS, BLACKPINK, Big Bang, Seventeen, and AKMU.
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Meanwhile, Universal Music operates several record labels under its umbrella, such as Interscope Records, Capitol Music and Republic Records, which represent pop stars such as Lady Gaga, Billie Eilish, Taylor Swift and Maroon 5.
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The deal is the latest in ongoing efforts by agencies and record labels to strengthen their platforms in order to reach a wider audience. Big Hit signed a deal with Kiswe in May and has collaborated on digital events such as BTS’s hit online concert “Bang Bang Con: The Live.” In September the two companies launched the joint venture KBYK Live and the VenewLive platform.
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The live streaming platform provides 4K / HD quality broadcasts for fans watching concerts from home, as well as new features such as multi-view broadcasts and live chats. KBYK Live said it plans to expand the features to marketing and enhanced chat for a more personalized viewing experience.
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KBYK CEO John Lee said VenewLive has already live-streamed several large-scale performances in the past year and has provided unique immersive concert experiences for fans, which can be delivered through cutting-edge technologies, including multiple 6-angle views, 4K resolution, and various interactive features. Lee added that technology will be the foundation to allow fans to feel closer to artists, and help artists express their energy on a digital stage.
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Boyd Muir, Vice President of Universal Music Group, said they are very excited to join Big Hit, YG and Kiswe as partners in KBYK as they aim to help further develop the opportunities and live streaming experiences for the Group’s artists. Universal Music and its fans today and in the future. He added that the last year has shown that the need for reliable and innovative live streaming has been greater than ever, adding that VenewLive offers some of the most creative and memorable opportunities for artists today to globalize their art and performances. , adapted to enhance community and fan experiences.
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