Big Hit Entertainment, home to worldwide and always-trending boy group, BTS, will be investing 70 Billion won (63.4 Million Dollars) in YG Entertainment, YG Plus, and their artists. The said investment is in partnership with Big Hit’s affiliate, beNX.
You heard it right! Like something that came out of a Kdrama (yes, we hear you, Itaewon Class’ Saeroyi), one of the fastest rising Korean agencies are investing in one of their direct competitors.
What comes with this deal is that YG artists will be featured in Weverse, a fan community launched by Big Hit.
“We look forward to the synergy that YG Plus, which has powerful networks in various fields, such as distribution and merchandising production, and Big Hit and beNX, which are strong in artist intellectual property and platforms,” said a Big Hit Entertainment representative.
YG Entertainment also commented, “We have prepared a new turning point for both companies, which have been aiming to be the best in their respective fields. We’ll grow together through various collaborations that will influence the overall entertainment lifestyle.”
YG Entertainment used to be one of the Big three agencies in South Korea and Sm Entertainment and JYP. In the past few years, however, the company’s stocks went down due to unexpected scandals and issues regarding some of their artists and Yang Hyun Suk himself. In 2018, BIGBANG member Seungri pleaded guilty after being charged with illegal prostitution. Several months after, YG’s former executive Yang Hyun Suk was questioned by authorities due to gambling and prostitution as well. Not long after that, he resigned from the company.
Because of these scandals, people who invested in YG sold their stocks. While YG is still promoting their artists, including another Hallyu group, BLACKPINK, the company wasn’t in their full surge. Good thing that Big Hit Entertainment is out for the rescue.
Eversince the supergroup BTS made it in Hollywood, Big Hit has become the most sought after agency in Korea, and even the whole world. In 2019 alone, their revenue was worth over 600 Billion Won. Who would’ve thought that a small company that started with one boy group could now invest in a top corporation? It’s so amazing!
So far, this is just the partnership and investment info we got from sources. We’ll update this article for further news from the said undertaking of Big Hit Entertainment.