BTS and Blackpink

BTS label Big Hit invests shocking $63 million in rival company

The two most popular bands of K-Pop are finally uniting under one roof. BTS' agency Big Hit Entertainment is investing $63 million in Blackpink's YG Entertainment. YG artists will now use Weverse to communicate with fans, and Big Hit artists will benefit from YG's distribution channel. Curious to learn the details of this partnership? Read along for all the information!

  • Bang Si Hyuk started Big Hit in 2005 with many struggles, but today they manage the world's biggest band.
  • The company is preparing to debut a Japanese boy group and their first girl group after 8 years in 2021.
  • beNX. Inc is Big Hit's subsidiary that owns Weverse. It has received an investment of $321 million from Naver to transfer its video streaming service, Vlive.
Bang Si Hyuk, CEO of Big Hit Entertainment

On 27 January, Big Hit announced a shocking new venture. They have revealed to have partnered with YG's subsidiary, YG Plus, to interchange their services. Big Hit and beNX invested $63 million in YG Plus. This partnership will enable the former's artists to communicate with their fans through Weverse.

YG Plus is for the models and actors under the company and is responsible for merchandise and distribution. 
BTS' agency labeled this as a 'strategic partnership', but the truth is it's a win-win situation for Big Hit.

Fans reacting to the partnership news

How is that? YG has long been a rival of Big Hit mainly because of the fan wars among their leading artists, BTS and Blackpink. The girls from Blackpink and other YG artists will now be using an app that the Bangtan Boys technically helped their company build. Big Hit now owns a 17.9% share in the company too.

Hwang Bo-kyung(left), CEO of YG

In 2019 and 2020, Big Hit expanded by taking over many agencies including, Source music, Pledis Entertainment, and KOZ Entertainment. These agencies manage Gfriend, Seventeen, and Zico. This partnership seems like the agency has more plans of investing in their rival. 

It was also revealed that Naver Corporation has invested around $321 million in beNX. The company will be handing over their video streaming service Vlive to them. This means BTS and all other K-Pop artists will go live on Weverse. 
Big Hit has always played smart and is now on another level compared to the top 3 entertainment companies of South Korea. There is definitely more to look forward to. Tell us what you think about this partnership in the comments section below!

Estefanía Martínez

K-pop enthusiast, you too? Well, hello there, best friend! Follow me for all the awesome updates in the k-world.+ info

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