Business News Deals Digital Labels & Publishers Live Business

Universal gets in on livestreaming with Big Hit and YG

By | Published on Wednesday 10 February 2021


Universal Music is getting in on the livestreaming boom in partnership with South Korean entertainment companies Big Hit and YG, along with online video technology outfit Kiswe. Together they will expand the existing livestreaming platform VenewLive worldwide.

VenewLive was launched in September by KBYK Live – a joint venture company founded by Big Hit and Kiswe last year. Universal and YG are now investors in that company, Big Hit announced yesterday, and will aid the expansion of the service, in part by providing artists to stream performances on it.

Big Hit, of course, has BTS on its books, which alone is enough to make a decent go of the service worldwide. YG will boost the venture’s K-pop credentials, with Blackpink in particular, while Universal can provide a range of international artists and, presumably, a little bit of expertise.

“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”, says Universal CFO Boyd Muir.

“This past year has shown that the need for reliable and innovative livestreaming has never been greater”, he continues. “VenewLive offers some of the most creative and memorable opportunities for today’s artists to globalise their art and performances, tailored to enhance the community and fan experience”.

Big Hit Global CEO Lenzo Yoon adds: “Big Hit’s attempts to maximise fan experience are not limited to entertainment, but also implementing various technologies. KBYK is also part of this effort”.

“Our dream and 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 goes on. “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”.

BTS have already used the platform for two online shows, scoring nearly a million viewers for the second. Universal artist Justin Bieber also broadcast a New Year’s Eve show on the platform. So, some headline-grabbing stuff. That said, in total it has only hosted a handful of shows so far – the latest being K-pop boyband Enhyphen earlier this week.

READ MORE ABOUT: | | | | |