BTS’ Agency Big Hit Partners with BLACKPINK’s YG… Strategic Partnership
[연합뉴스=김효정 기자] Big Hit Entertainment and YG Entertainment, the agencies behind the global K-Pop boy and girl group BTS and BLACKPINK, will form a strategic partnership.
On January 27, Big Hit Entertainment revealed that Big Hit and its affiliate beNX will invest a total of 70B KRW to YG’s affiliate company, YG PLUS.
Big Hit held a board meeting today and decided that Big Hit and beNX will invest a total of 70B KRW, 30B and 40B KRW respectively, in YG Entertainment’s affiliate YG PLUS.
Big Hit has acquired 4,864,565 shares of YG PLUS stock, which allows them to hold 7.7% stakes of YG PLUS. beNX has acquired 6,486,085 shares of YG PLUS stock, making them hold 10.2% stakes in YG PLUS.
They acquisition date is planned to be next month on the 4th.
Big Hit, beNX, and YG PLUS has announced that they will form a foundation for their strategic partnership through the investment and collaborate on various fields such as platform·distribution·content business.
beNX is an affiliate of Big Hit, operating the fan community platform Weverse and its commers platform, Weverse Shop. YG PLUS manages music·album distribution and merchandise business.
Through the investment, the YG PLUS’ artist global membership-related business will be handled by Weverse, while YG PLUS will collaborate with Big Hit on the music·albums distribution and merchandise production.
As a result, artists of YG including BLACKPINK are expected to enter Weverse, the platform operated by Big Hit.
The strategic partnership by the two agencies with the biggest K-Pop groups in the world is unprecedented in the entertainment industry, and is expected to be a game-changer in the future operations within the industry.
The two agencies have revealed that they will utilize Intellectual Property of various artists in different fields covering the entire entertainment lifestyle, including platforms, to create synergy effects that will broaden fan experience.
YG PLUS stated, “We have created a new turning point for both agencies, that have been aiming to become the best in their respective fields”.
Big Hit revealed, “We look forward to the synergy effects to be created by YG PLUS, the company with strong networks on various fields such as distribution and merchandise production, along with Big Hit and beNX, the companies with strength in artist Intellectual property and platforms”.
The agencies predicted, “Both agencies will grow together through various partnerships that will impact the overall entertainment lifestyle”.
2021. 1. 27.
