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!
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.
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.
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!