Confirmed: YG Entertainment And Big Hit Entertainment To Have A Joint Partnership
With a joint strategic partnership formed by YG Entertainment and Big Hit Entertainment, fans are speculating who holds the upper hand between the two giants.
According to reports, they made a partnership to improve both of their agencies. YG Entertainment gave a press release saying the partnership would significantly connect to the two companies, particularly in multiple areas like content distribution, content, and media platforms. They noted that online and offline platforms would be developed by both companies and have expanded because of the partnership.
YG Entertainment is like a lovely home described by many artists because they are free to show their strengths in music, music distribution, and merchandise.
Meanwhile, Big Hit Entertainment is unrivaled in the business sector, utilizing their fan community platform Weverse and their artists' intellectual property to grow their fanbase. YG Entertainment will expand its global reach and artist influence through Big Hit Entertainment's Weverse because of this partnership.
Moreover, Big Hit Entertainment will look to expand Weverse's global power by including the content of YG Entertainment. The latter plans to build innovative models that can be used in providing new experiences to their fans through cooperation with Big Hit Entertainments and YG PLUS.
YG PLUS is YG Entertainment's subsidiary company that manages the agency's media and advertising business. Both companies' physical albums, digital music distribution, and merchandise business would collaborate with each other.
Furthermore, Big Hit Entertainment and their subsidiary company, beNX, have invested 70 billion Korean Won ($63,367,059) into YG PLUS. Thirty billion Korean Won came from Big Hit Entertainment, and 40 billion Korean Won invested by beNX with the announcement of their partnership. Big Hit Entertainment, beNX, and YG PLUS have agreed to lay the foundation for strategies cooperation in many business areas.
YG Entertainment and Big Hit Entertainment opened up about preparing a new turning point for both companies, aiming to be the best in their respective fields. It was evident that both will grow together through various collaborations that will influence the overall entertainment lifestyle.
Here is the statement released by YG Entertainment and Big Hit Entertainment: "We have prepared a new turning point for both companies which have been aiming to be the best in their perspective fields. We will grow together through various collaborations that will influence the overall entertainment lifestyle."