Big investment news from Big Hit Entertainment!
On January 27, it was revealed that Big Hit Entertainment and its subsidiary BeNX shall invest a total of 70 billion won ($63) into YG Entertainment’s sub-label YG PLUS. Big Hit shall invest 30 billion won while BeNX shall invest 40 billion won. Big Hit stated through a press release following a board meeting.
The strategic partnership will be a global cooperation to be carried out through Weverse and other various forms. The two companies shall cooperate and create a connection in multiple areas through various IPs (intellectual property) to grow their artists’ fanbases.
Both the online and offline platforms developed by both companies will be expanded through this partnership.
YG PLUS will collaborate with Big Hit in regards to music and physical distribution as well as merchandise business. YG PLUS artists are expected to expand their global reach through Big Hit Entertainment’s Weverse, and in turn, Big Hit will expand Weverse’s influence by including YG artists.
YG Plus called the investment a “new turning point”.
Source: (A)
