YG Entertainment and Big Hit Entertainment have formed a joint strategic partnership to further improve the two agencies.
Big Hit Entertainment, the agency behind global star BTS, on Wednesday announced plans to invest 70 billion won (around 52 million euros) in YG Entertainment, one of Korea's largest K-pop agencies. South.
As part of the deal, Big Hit and its subsidiary beNX will invest 30 billion won and 40 billion won respectively in affiliate YG Plus, the agency said in a press release following a meeting of the board of directors.
With this investment, Big Hit and beNX will respectively own 7.7% and 10.2% of the shares of the YG subsidiary.
beNX is a subsidiary of Big Hit which operates the Weverse Fan Community Platform and the associated Weverse Shop business platform. YG plus is a subsidiary of YG which focuses on music distribution and merchandising.
The two companies said they would expand their business cooperation under the strategic partnership. YG Plus will rely on Weverse to reach more fans around the world while supporting Big Hit's music distribution and merchandising activities.
Big Hit and YG have both expressed anticipation of the trade deal.
“We look forward to the synergy between YG Plus, which has a strong network in various fields such as distribution and merchandising production, and Big Hit and beNX, which are strong in artists' intellectual property and platforms. shapes, ”Big Hit said, noting the two companies will be able to grow together through collaboration.
YG Plus called the investment a “new turning point” for both companies.
Big Hit, established in 2005, is one of the nation’s biggest K-pop powers that manages artists such as BTS, Seventeen and GFriend. The company debuted on the local stock market in October and expanded its business portfolio by acquiring smaller labels.
YG, founded in 1996, is another major force in the K-pop industry that manages BLACKPINK, TREASURE and AKMU. The company also represents actors and actresses, such as Gang Dong-won, Lee Sung-kyoung and Choi Ji-woo.
In a separate announcement Wednesday night, Big Hit said major portal operator Naver would invest $ 354.8 billion in beNX via a third-party paid-in capital raise. He also said that beNX would change its name to Weverse Company Inc.
Big Hit Entertainment, the agency behind global star BTS, on Wednesday announced plans to invest 70 billion won (around 52 million euros) in YG Entertainment, one of Korea's largest K-pop agencies. South.
As part of the deal, Big Hit and its subsidiary beNX will invest 30 billion won and 40 billion won respectively in affiliate YG Plus, the agency said in a press release following a meeting of the board of directors.
With this investment, Big Hit and beNX will respectively own 7.7% and 10.2% of the shares of the YG subsidiary.
beNX is a subsidiary of Big Hit which operates the Weverse Fan Community Platform and the associated Weverse Shop business platform. YG plus is a subsidiary of YG which focuses on music distribution and merchandising.
The two companies said they would expand their business cooperation under the strategic partnership. YG Plus will rely on Weverse to reach more fans around the world while supporting Big Hit's music distribution and merchandising activities.
Big Hit and YG have both expressed anticipation of the trade deal.
“We look forward to the synergy between YG Plus, which has a strong network in various fields such as distribution and merchandising production, and Big Hit and beNX, which are strong in artists' intellectual property and platforms. shapes, ”Big Hit said, noting the two companies will be able to grow together through collaboration.
YG Plus called the investment a “new turning point” for both companies.
Big Hit, established in 2005, is one of the nation’s biggest K-pop powers that manages artists such as BTS, Seventeen and GFriend. The company debuted on the local stock market in October and expanded its business portfolio by acquiring smaller labels.
YG, founded in 1996, is another major force in the K-pop industry that manages BLACKPINK, TREASURE and AKMU. The company also represents actors and actresses, such as Gang Dong-won, Lee Sung-kyoung and Choi Ji-woo.
In a separate announcement Wednesday night, Big Hit said major portal operator Naver would invest $ 354.8 billion in beNX via a third-party paid-in capital raise. He also said that beNX would change its name to Weverse Company Inc.
, YG could actually give their artists a comeback, BigHit.... can.... 
.... I'm slow.. POINT IS: If this can spread everyone can improve themselves and the kpop industry can be under one big umbrella company.
?! I thought maybe i had been reading too many books.