[Featured Stock] YG PLUS Partners with Naver, BigHit, and Universal Music... Boosting Global Music Distribution Momentum
[Asia Economy Reporter Park Hyungsoo] YG PLUS stock is showing strong performance. The news that Big Hit Entertainment, which raised the global K-pop boy group BTS (Bangtan Sonyeondan), is partnering with Universal Music Group, one of the world's top three record producers, appears to have influenced the stock price.
As of 10:58 AM on the 4th, YG PLUS is trading at 6,760 KRW, up 5.78% from the previous day.
On this day, an economic media outlet reported that BNX is jointly promoting global business with Universal Music Group. It is known that BNX and Universal Music Group are likely to establish a joint venture in the United States. Many artists affiliated with Universal Music Group are expected to join the integrated fan community platform of Big Hit Entertainment and Naver.
BNX operates the fan community platform Weverse. The fan community platform is an online space where artists and fans communicate through online concerts, solo broadcasts, and more. On the 27th, Naver secured a 49% stake in BNX and is also pursuing a plan to integrate Naver's platform 'V Live' with Weverse. A Big Hit official stated, "We cannot confirm related facts."
Previously, Big Hit Entertainment partnered with YG Entertainment. Big Hit Entertainment, together with its subsidiary BNX, made an investment worth 70 billion KRW in YG Entertainment's subsidiary YG PLUS. Big Hit acquired 4,864,565 shares of YG PLUS, and after acquiring the shares, Big Hit's stake in YG PLUS will be 7.7%. BNX acquired 6,486,085 shares of YG PLUS, holding a 10.2% stake.
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Big Hit Entertainment, BNX, and YG PLUS stated that through this investment, they have laid the foundation for strategic collaboration and agreed to cooperate in various business areas each company operates, such as platforms, distribution, and content. YG PLUS is responsible for music and album distribution and MD (merchandising) business. YG PLUS will collaborate on Big Hit's album and music distribution and MD business.
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