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 joint investors in KBYK Live, a joint venture that Big Hit Entertainment launched with Kiswe. Through investment by YG and UMG, KBYK Live plans to launch the “VenewLive” platform on a global scale with a number of musicians, including agency artists.
Big Hit and Kiswe signed a memorandum of understanding (MOU) in May 2020 and launched their joint venture in September 2020. The company launched the digital live streaming platform VenewLive, which was used to perform online shows at Big Hit Entertainment.
A Big Hit representative stated: “With the addition of YG and UMG, VenewLive will become a revolutionary platform that showcases high-profile shows from leading global artists representing Big Hit, YG and UMG, combined with Kiswe’s innovative technologies in several -see live broadcast. “
VenewLive had previously been used in BTS online shows “BANG BANG CON: The Live” and “BTS MAP OF THE SOUL ON: E.” The shows showed stable audio and video performance, despite a combined audience of nearly 1 million viewers worldwide. These shows also offered 4K / HD service and multi-view streaming that offered different camera perspectives from the performers on stage, as well as interactive functions such as live chat and Bluetooth connection with light sticks.
Based on advanced technologies, VenewLive plans to present exclusive content for each artist and personalized concert experiences tailored to fans. This includes various elements of performance in digital concerts in a way adapted to the characteristics and needs of each artist and fan, including several interactive social functions such as concert broadcast, purchase of official merchandise and live chat.
John Jay Lee, CEO of KBYK Live, said: “VenewLive has already been used several times to perform concerts on a large scale and offer unique digital experiences to fans through high-level technologies such as multiview and 4K streaming. We want our technologies to help fans feel closer to artists, as well as to help artists express their unique energies through a digital stage. “
Choi Sung Joon, chief operating officer at YG Entertainment, said: “There will be a positive impact from our company, which houses artists who can compete on a global stage, investing in a high-quality platform with advanced technological capabilities. We will continue to work to develop new services and diverse interactive experiences for global fans. “
Boyd Muir, the financial director of Universal Music Group, said: “We are happy to join Big Hit, YG and Kiswe as partners of KBYK Live to give our current and future UMG fans and artists more opportunities and evolving broadcast experiences Live. 2020 was a year in which we realized the need for a stable and innovative live broadcast. VenewLive aims to give artists the opportunity to create memorable and creative performances and shows on a global scale, adapted to the experiences of fans and communities. “
Mike Schabel, Kiswe’s CEO, said: “We have been developing video streaming and communication technologies with fans since 2013. Through digital technologies, we push the boundaries of the concert arena and help artists perform for their fans around the world, as well as helping to make fans part of the show experience. We will continue to work to create live shows with leading global 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 just limited to his entertainment business, but also through the introduction and adoption of various technologies. VenewLive is part of this work. Our dream and our goal is the stable supply of advanced technologies in each season, so that fans can get the best possible experience of the artists’ 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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