Big Hit Entertainment and its subsidiary beNX are investing 70 billion gained (roughly $63 million) in YG Entertainment’s subsidiary YG PLUS.
On January 27, Big Hit Entertainment held a board assembly at which it was determined that the corporate will make a 30 billion gained (roughly $27 million) funding in YG PLUS whereas beNX will make investments 40 billion gained (roughly $36 million).
The funding lays the groundwork for a strategic collaboration between Big Hit Entertainment, beNX, and YG PLUS, through which they’ll be cooperating within the numerous fields of enterprise performed by the businesses, together with platforms, distribution, and content material. YG PLUS artists’ international membership enterprise will likely be performed by way of Weverse, which is a fan neighborhood platform run by beNX. YG PLUS will likely be collaborating on Big Hit Entertainment’s music distributing and merchandising.
YG PLUS acknowledged, “We’ve ready a brand new turning level by way of the collaboration of the 2 corporations who goal for the very best of their fields.”
Big Hit Entertainment shared, “We’re excited in regards to the synergy that will likely be created collectively by YG PLUS, who has a powerful community in lots of fields together with distribution and merchandise manufacturing, and Big Hit and beNX, that are robust in artist mental property and platforms.” They added, “The businesses will develop collectively by way of the varied collaborations that can affect leisure way of life throughout the board.”
It was additionally introduced on January 27 that Naver and Big Hit Entertainment are creating a brand new international fan neighborhood platform and mixing the customers, content material, and companies of V LIVE and Weverse, the platforms owned by every firm.
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