Universal Music, YG Entertainment Invest in Big Hit Entertainment’s Live-Streaming Venture
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variety.comRebecca Davis editorUniversal Music Group (UMG) and K-pop giant YG Entertainment have invested an undisclosed sum in an up-and-coming global digital live-streaming platform established by BTS backer Big Hit Entertainment and cloud video tech firm Kiswe, the companies announced Tuesday.Leading K-pop firm and YG rival Big Hit first linked up with New Jersey-headquartered Kiswe in an MOU last May.
In September, they established a joint venture called KBYK Live, and together launched a live-stream content platform called VenewLive within the month.Now, YG and UMG have joined in with an equity investment of undisclosed size, seeking to work with the pair to further expand the platform’s reach, improve applications of its unique multi-view.
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