Big Hit Entertainment, along with its subsidiary beNX, has invested a total of 70 billion KRW (about 62,815,760 USD) in YG PLUS, a subsidiary of YG Entertainment.
Big Hit held a board meeting on the 27th and decided to invest a total of 70 billion KRW, 40 Billion from beNX and 30 billion KRW from Big Hit Entertainment, into YG PLUS.
Through this investment, Big Hit, beNX, and YG PLUS agreed to lay the foundation for strategic cooperation and collaborate in various business areas that each company is developing, including platforms, distribution, and content.
As a result, YG PLUS’s global membership business will be carried out through Weverse, while YG PLUS will be joining hands with Big Hit’s music distribution and MD business.
With this mutual cooperation, the two companies are expecting to create positive synergy in various business areas. YG not only has a large number of world-famous artists but has also shown strength in various fields such as record production, music distribution, and MD. Big Hit is making unrivaled achievements in the business area by utilizing the fan community platform “Weverse” and artist IP.
“We have prepared a new turning point for the two companies, which have been aiming for the best in their respective fields,” YGE and Big Hit said. “We will grow together through various collaborations that will affect the overall entertainment lifestyle.”