VT GMP "Media Commerce New Business Kaibli, Korea-China Omnibus Hainan Performance Confirmed"

[Asia Economy Reporter Yoo Hyun-seok] VT GMP, a KOSDAQ-listed company, announced on the 6th that its affiliate Cablely's 'Korea-China Omnibus Hainan (海南) Performance' has been confirmed.

This omnibus performance is the first case since the 2016 Chinese Hanhanryeong sanctions. The company stated that it recently completed the issuance of an authorization letter guaranteeing Cablely's performance rights from 'Prigos,' the largest performance planning company in China.

The specific performance schedule will be finalized and coordinated within the first half of the year, considering the COVID-19 situation. Cablely plans to first recruit Korean participating artists and simultaneously proceed smoothly with the originally planned joint venture establishment with Prigos.

A VT GMP official said, "Through the issuance of this authorization letter, Cablely has been granted rights to the Hainan performance in China as well as the rights to recruit entertainers," adding, "Since the large-scale performance that has been promoted since last year has been confirmed for Hainan, we plan to proceed with successful performance planning by coordinating suitable schedules and participating artists."

As this is the first Korea-China omnibus performance since the Hanhanryeong measures, top-tier artists such as Jay Chou are being recruited in China. Jay Chou is an icon in the Chinese music industry, having recorded over 3.3 million downloads within two hours of releasing his music in September last year and earning 10 million yuan in music revenue alone. Cablely plans to thoroughly recruit Hallyu stars in Korea comparable to these top Chinese stars, as the top Chinese stars are expected to attend this performance.

This content was produced with the assistance of AI translation services.