YG Entertainment Announces Their Investment In Big Hit Entertainment's VenewLive Live Streaming Platform

JAKARTA - YG Entertainment and Universal Music Group (UMG) agencies announced investments in live streaming platform VenewLive from Big Hit Entertainment and video technology company Kiswe on Tuesday, February 9.

Earlier in May 2020, YG and Big Hit signed an MOU to collaborate with KBYK Live and launched VenewLive.

Big Hit itself has used the VenewLive platform to hold a Big Hit 2020 virtual concert using Kiswe technology at the end of 2020. This collaboration is carried out to expand the reach of the platform with technology and present quality virtual concerts.

“The past couple of years has demonstrated that the need for innovative and reliable live streaming has never been greater. We are delighted to be able to join Big Hit, YG, and Kiswe as partners in KBYK to develop live streaming opportunities for UMG artists and their fans going forward”, said Boyd Muir, Executive President of UMG.

KBYK, the company that houses VenewLive, uses Kiswe technology so that fans can choose various camera angles when watching concerts such as watching a soccer match.

The success of Kiswe technology can be seen in BTS's virtual concert, BANG BANG CON: The Live, which has been watched by more than 756 thousand people from 107 countries. The virtual concert Map of the Soul ON: E also attracted 993 thousand spectators from 191 countries.

Later, the live streaming concert will feature premium features such as 4K resolution, live chat, and lightstick synchronization with the stage, like when you are watching a concert at a stadium.

With this collaboration, fans can expect various virtual concerts that come from UMG, Big Hit, and YG Entertainment artists.

This collaboration also came after Big Hit announced a 63 million dollars investment in its subsidiary, YG Plus, and expanded the WeVerse network with Naver.