YG and BIGHIT Announce Collaboration, Are You Looking Forward to Their Partnership?

South Korea's BigHit Entertainment has risen to become one of the largest agencies due to the Bulletproof Teenagers' Team (BTS), and following the acquisition of SourceMusic, Pledis Entertainment, and KOZ Entertainment, founded by singer ZICO, the company announced a new "partner" on the 27th, which is none other than one of the "three largest agencies", YG Entertainment, and BigHit Entertainment has even made a large investment of The company has invested 70 billion won in the project. (Photo: CFP)

YG Entertainment said in a press release on April 27 that it has reached an agreement with BigHit to strengthen its strategic partnership. BigHit Entertainment also announced that it will make a 70 billion won scale investment in YG's subsidiary YGPlus along with its subsidiary beNX. But with one side saying it's an investment and the other saying it's a strategic partnership, it's quite interesting to compare the two sides' statement drafts.

The press release said, "BigHit plans to further expand Weverse's global reach through the content of YG artists." The press release hinted that YG artists will be featured in Weverse, a social software developed by BigHit Entertainment, in the future. And YGPlus will provide innovation to BigHit Entertainment's existing channels and models in the distribution of music and peripheral merchandise.

BigHit, beNX, and YG PLUS have decided to establish a foundation for strategic cooperation through this investment, and to collaborate in a variety of fields that each company is working on, including platforms, distribution, and cultural information. As a result, YG PLUS's global artist-related business will be carried out through BigHit's platforms, and YG PLUS will collaborate to promote BigHit's recordings, audio distribution and MD business.

The two companies also plan to create synergies by utilizing diverse star IPs in a wide range of business fields including entertainment and lifestyle.

YG PLUS said: ? The two companies have been pursuing the highest position in their respective fields and will create a new turnaround by working together?

BigHit said: ? We expect YG PLUS, which has a strong network in various fields such as distribution and MD production, and BigHit and beNX, which have strengths in the fields of artist IPs and platforms, to create synergies together, and we expect that each company will grow together through a variety of collaborations that will have an impact on the entire spectrum of entertainment lifestyles***?