YG Entertainment and Universal Music Group (UMG) are set to invest in Big Hit Entertainment’s live-streaming platform VenewLive.
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UMG announced today that it and YG have invested an undisclosed amount in VenewLive, which Big Hit launched last year with U.S. streaming service provider Kiswae, in order to expand the platform globally. This partnership is expected to secure an international artist line-up and high-quality performance content for the platform from acts represented by Big Hit, YG and UMG.
“We are excited about this investment as our company with many artists competitive on a global stage has secured a high-quality platform with leading technologies,” said YG Entertainment COO Sung Jun Choi. “We will continue to do our best to provide more interactive experiences and new services to global fans.”
Big Hit Global CEO Lenzo Yoon added that the company’s goal is to “provide the most advanced technology currently available so that fans can experience the artist’s content in the best way possible under any circumstances.” He added: “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.”
VenewLive is a live streaming content platform launched in September 2020 by KBYK Live, a joint venture between Big Hit and Kiswe. It plays big on customization, fitting each experience depending on an artist’s identity and branding without compromising on unique and immersive user-fan experiences. It also boasts of features that include 6-angle multi-views, 4K resolution and various interactive features.