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Big Hit Entertainment, YG Entertainment, Universal Music Group (UMG) and Kiswe will join forces to launch a new digital live streaming platform.
On February 10, it was revealed that YG and UMG had become co-investors in KBYK Live, a joint venture that Big Hit Entertainment had started with Kiswe. Thanks to investment from YG and UMG, KBYK Live plans to launch the “VenewLive” platform globally with various musicians, including artists from the agency.
Big Hit and Kiswe signed a Memorandum of Understanding (MOU) in May 2020 and launched their joint venture in September 2020. The joint venture launched the digital live streaming platform VenewLive, which has been used to organize events. concerts online at Big Hit Entertainment.
A representative from Big Hit said, “With the addition of YG and UMG, VenewLive will become a revolutionary platform that will present a high-level concert of the world’s best artists who represent Big Hit, YG and UMG, combined with innovative technologies from Kiswe in multi -view live broadcast. “
VenewLive has previously been used in BTS’s online concerts “BANG BANG CON: The Live” and “BTS MAP OF THE SOUL ON: E”. The concerts showed stable audio and video performance despite a combined audience of nearly one million viewers worldwide. These concerts also offered 4K / HD service and multi-view streaming offering different camera perspectives of the artists on stage, as well as interactive features like live chat and Bluetooth connection with glow sticks.
Based on advanced technologies, VenewLive plans to present unique content to each artist and personalized concert experiences tailored to fans. This includes various elements of performance in digital concerts in a form tailored to the characteristics and needs of each artist and fan, including various social interactive functions such as concert streaming, purchasing official merchandise and live chat.
John Jay Lee, CEO of KBYK Live, said: “VenewLive has already been used on several occasions to organize large-scale concerts and provide unique digital experiences for fans through high-level technologies such as multi-view and 4K streaming. We want our technologies to help fans feel closer to artists, as well as artists to express their unique energies through a digital stage.
Choi Sung Joon, COO of YG Entertainment, said, “There will be a positive impact from our company, which is home to artists capable of competing on the global stage, by investing in a high quality platform endowed with of advanced technological prowess. We will continue to work to develop new services and various interactive experiences for fans around the world. “
Boyd Muir, Chief Financial Officer of Universal Music Group, said: “We are happy to join Big Hit, YG and Kiswe as a KBYK Live partner to give our current and future UMG artists and fans more opportunities and to evolve. live streaming experiences. 2020 has been a year in which we realized the need for stable and innovative live streaming. VenewLive aims to empower artists to create memorable and creative performances and concerts on a global scale, tailored to the experiences of fans and communities.
Mike Schabel, CEO of Kiswe, said: “We have been developing video streaming and fan communication technologies since 2013. Using digital technologies, we are breaking the boundaries of the concert arena and helping artists perform for their fans all over the world. and help integrate fans into the concert experience. We will continue to work to create live concerts with the world’s best artists and surprise fans with unique experiences. “
Yoon Suk Joon, Global CEO of Big Hit Entertainment, said, “Big Hit’s work to maximize the fan experience is not limited only to its entertainment business, but also through the introduction and adoption of various technologies. VenewLive is part of that job. Our dream and our goal is the stable supply of advanced technologies in every era so that fans can get the best possible experience of artist content regardless of their environment. Through new attempts and technologies in various fields, we will continue to research how to positively influence the fan experience.
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