{"id":83668,"date":"2021-02-11T12:00:00","date_gmt":"2021-02-11T12:00:00","guid":{"rendered":"http:\/\/routenote.com\/blog\/?p=83668"},"modified":"2021-02-11T12:48:02","modified_gmt":"2021-02-11T12:48:02","slug":"universal-music-group-joins-forces-with-k-pop-labels-to-invest-in-big-hit-entertainment-livestreaming-platform","status":"publish","type":"post","link":"https:\/\/routenote.com\/blog\/universal-music-group-joins-forces-with-k-pop-labels-to-invest-in-big-hit-entertainment-livestreaming-platform\/","title":{"rendered":"Universal Music Group joins forces with K-pop labels to invest in livestreaming platform"},"content":{"rendered":"\n<p><em>Image Credit: <a href=\"https:\/\/venewlive.com\/\">VenewLive<\/a><\/em><\/p>\n\n\n\n<h4><span style=\"color:#3366FF\"> Big Hit Entertainment, YG, Universal Music Group, and Kiswe have teamed up with new investment in global livestream content platform VenewLive.<\/span><\/h4>\n\n\n\n<p>Universal Music Group is investing in K-pop giant Big Hit Entertainment\u2019s livestreaming content platform <a href=\"https:\/\/venewlive.com\/\">VenewLive.<\/a> YG Entertainment, who are Blackpink\u2019s record label, has also invested. With the new backing <a href=\"https:\/\/routenote.com\/blog\/the-korean-label-behind-bts-just-invested-60m-in-rival-k-pop-label\/\">Big Hit<\/a> can expand the reach of their livestream events and exercise the potential of the technology, and <a href=\"https:\/\/routenote.com\/blog\/south-korea-is-the-next-stop-for-your-music\/\">YG<\/a> and <a href=\"https:\/\/routenote.com\/blog\/universal-music-group-and-tiktok-partner-for-new-worldwide-licensing-deal\/\">Universal<\/a> can develop new avenues for their artists to connect with fans.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">JUST IN: <a href=\"https:\/\/twitter.com\/bighitent?ref_src=twsrc%5Etfw\">@BigHitEnt<\/a> has teamed up with <a href=\"https:\/\/twitter.com\/ygent_official?ref_src=twsrc%5Etfw\">@ygent_official<\/a>, <a href=\"https:\/\/twitter.com\/UMG?ref_src=twsrc%5Etfw\">@UMG<\/a> and US video tech start-up Kiswe to launch a global digital live streaming platform VenewLive. YG Entertainment and UMG will co-invest on KBYK Live, a joint venture between Big Hit and Kiswe. <a href=\"https:\/\/t.co\/fo9URAe7fo\">pic.twitter.com\/fo9URAe7fo<\/a><\/p>&mdash; KpopHerald (@Kpop_Herald) <a href=\"https:\/\/twitter.com\/Kpop_Herald\/status\/1359269978076180486?ref_src=twsrc%5Etfw\">February 9, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The deal shows that livestreaming is here to stay. KBYK Live, the venture responsible for VenewLive, was jointly established by <a href=\"https:\/\/routenote.com\/blog\/spotify-is-now-live-in-south-korea-the-worlds-6th-largest-music-market\/\">South Korean<\/a> company <a href=\"https:\/\/routenote.com\/blog\/bts-label-gets-huge-investment-from-naver\/\">Big Hit<\/a> and New Jersey-based video company Kiswe <a href=\"https:\/\/routenote.com\/blog\/btss-label-big-hit-entertainment-partner-with-live-video-tech-startup-kiswe\/\">in May last year, <\/a>and the launch of the concert platform followed shortly after. VenewLive has already put on some of the biggest livestreaming concerts ever seen, including BTS\u2019s <em><a href=\"https:\/\/www.teenvogue.com\/story\/bts-map-of-the-soul-one-concert-best-moments\">MAP OF THE SOUL ON:E<\/a><\/em> in October last year which saw a peak audience of 993,000.<\/p>\n\n\n\n<p>Lenzo Yoon, CEO of Big Hit Global, <a href=\"https:\/\/www.universalmusic.com\/big-hit-yg-umg-and-kiswe-join-forces-for-global-live-streaming-platform\/\">said:<\/a><\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>Our dream and goal is to provide the most advanced technology currently available so that fans can experience the artist\u2019s content in the best way possible under any circumstances. We will continue to study how new technologies and attempts in various fields can have a positive impact on strengthening our fan experience and actively introduce them.<\/p><cite>Lenzo Yoon, CEO of Big Hit Global<\/cite><\/blockquote>\n\n\n\n<p>Universal Music Group is no doubt capitalising on the current worldwide <a href=\"https:\/\/routenote.com\/blog\/south-korea-are-in-their-music-renaissance\/\">surge in popularity for K-pop.<\/a> Last year, <a href=\"https:\/\/routenote.com\/blog\/watch-bts-join-james-corden-for-carpool-karaoke-video\/\">BTS<\/a> became the first K-pop band to have a Billboard number one and the release of <a href=\"https:\/\/routenote.com\/blog\/blackpink-become-the-first-k-pop-group-to-surpass-50m-subscribers-on-youtube\/\">Blackpink\u2019s<\/a> \u2018How You Like That\u2019 was watched by 1.65million fans, breaking the previous record for the biggest music video premiere on <a href=\"http:\/\/routenote.com\/blog\/how-to-get-my-music-on-youtube-music-free\/\">YouTube<\/a> \u2013 a record that had been set by BTS.<\/p>\n\n\n\n<p>Universal Music Group&#8217;s Executive Vice President, Chief Financial Officer and President of Operations Boyd Muir said:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>We are delighted to join Big Hit, YG and Kiswe as partners in KBYK as we look to help further evolve the opportunities and live streaming experiences for UMG artists and their fans today, and into the future. This past year has shown that the need for reliable and innovative livestreaming has never been greater. VenewLive offers some of the most creative and memorable opportunities for today\u2019s artists to globalize their art and performances, tailored to enhance the community and fan-experience.<\/p><cite>Boyd Muir, UMG Executive Vice President, Chief Financial Officer and President of Operations<\/cite><\/blockquote>\n\n\n\n<p>Financial terms of the deal were not disclosed. Using <a href=\"https:\/\/routenote.com\/blog\/spotify-tidal-and-more-join-t-mobiles-unlimited-streaming-plan\/\">Kiswe\u2019s<\/a> technologies, VenewLive has the capacity to convert each concert experience to fit the characteristics of specific artists whilst allowing fans watching to customise the content however they\u2019d like. The <a href=\"https:\/\/routenote.com\/blog\/bandsintown-launches-premium-livestream-subscription-service-to-support-music-artists\/\">livestream<\/a> experience on offer for fans includes 4K resolution, multi-view technology and digital interactive features. The platform hosted <a href=\"https:\/\/variety.com\/2021\/music\/news\/justin-bieber-new-years-eve-livestream-beverly-hilton-hotel-1234877439\/\">Justin Bieber&#8217;s concert<\/a> from the Beverly Hilton Hotel on New Years Eve 2020. <\/p>\n\n\n\n<p>With the solid new investment from some of the major players in the music business, expect to see further ground-breaking advances in technology and huge artists capitalising on the innovation and global reach on offer.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Big Hit Entertainment, YG, Universal Music Group and Kiswe have teamed up with new investment in global livestream content platform VenueLive.<\/p>\n","protected":false},"author":24,"featured_media":83671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[12418,21754,16655,5314,6860,21951,22457,21015,16793,6481,22459,680,22458,6862,21745],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.4.1 - 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