8 hours ago
Photo Source, Getty Images
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YG, who raised Black Pink, is also investing in Venue Live.
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Universal Music Group joins the live streaming platform established by major K-pop agencies.
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Universal Music, the world’s largest record agency, has a number of global pop stars such as Taylor Swift, Rihanna, and Lady Gaga.
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On the 9th, Universal Music announced that it will invest in the platform’Venue Live’ launched last year by Big Hit Entertainment, the agency of K-pop superstar BTS.
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YG, who raised Black Pink, is also investing in this place.
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Big Hit established Venue Live at KBYK Live, a joint venture in September last year.
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In a statement, the record companies that invested here indicated their intention to grow Venue Live to a’global scale’.
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K-pop’s explosive popularity
Photo Source, Getty Images
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K-pop band BTS enjoying tremendous popularity
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Korean popular music, K-pop, is gaining tremendous popularity all over the world. Last year, BTS was the first K-pop band to climb to No. 1 on the US Billboard Chart.
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In the case of the girl group Black Pink, which has millions of viewing groups with a variety of videos, it set a record of’YouTube Premier Most Viewed’ in 2020.
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The first broadcast of Black Pink’s new song’How You Like That’ released through YouTube in June of last year attracted 1.65 million fans. This was also a number that exceeded the record of BTS in February of that year.
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Big Hit revealed that over 993,000 people around the world watched the concert of BTS, which was streaming service at Venue Live last year.
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“Last year, the need for stable and innovative live streaming was greater than ever,” said Boyd Muir, CFO and Operations Chief of Universal Music Group.
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Big Hit Entertainment was founded in 2005 by music producer Bang Si-hyuk and was listed on the Korea Exchange in October 2020.
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Currently, Big Hit is recording a market capitalization of 8 trillion won.
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