Big Hit Entertainment has announced plans to invest 70 billion won (€ 52 million) in YG Entertainment.
The agency behind BTS, Big Hit Entertainment, has announced plans to invest in one of its biggest competitors, YG Entertainment. Big Hit and its subsidiary beNX will invest 30 billion won (€ 22 million) and 40 billion won (€ 30 million) respectively in YG Entertainment subsidiary YG Plus under the agreement.
This means that fans can expect to see YG Entertainment performers on Weverse, a fan community created and launched by Big Hit Entertainment.
Big Hit a déclaré,
“We look forward to the synergy between YG Plus, which has strong networks in various fields, such as distribution and merchandising production, and Big Hit and beNX, which are strong in artist intellectual property and platforms.“
YG Entertainment also commented, “We have set a new turning point for both companies, who aim to be the best in their respective fields. We will grow together through various collaborations that will influence the overall entertainment lifestyle.“
Source: Yonhap, Variety