Big Hit Gets Bigger

• Big Hit Entertainment, the agency behind global superstars BTS, announced that it plans to invest 70 billion won ($63 million) in YG Entertainment, one of the South Korea’s biggest K-pop agencies that manages Blackpink, Treasure and Akmu, as well as various actors and actresses.

As the Korea Herald reports, under the terms of the deal, Big Hit and its affiliate beNX will invest 30 billion won and 40 billion won, respectively, in YG affiliate YG Plus. beNX is a Big Hit affiliate that runs the fan community platform Weverse and related commercial platform Weverse Shop. YG Plus focuses on music distribution and merchandising. With the investment, Big Hit and beNX will own 7.7 percent and 10.2 percent stakes, respectively, in YG Plus. The two companies said they will be expanding business cooperation under the strategic partnership. YG Plus will bank on Weverse to reach out to more global fans while supporting Big Hit’s music distribution and merchandising business.

“We look forward to the synergy that YG Plus, which has a powerful network in various fields such as distribution and merchandising production, and Big Hit and beNX, which are strong in artist intellectual property and platforms,” said Big Hit, noting the two companies will be able to grow together through the collaboration. YG Plus called the investment a “new turning point” for the two companies.

Big Hit, established in 2005, is one of the country’s biggest K-pop powerhouses that manages artists, like BTS, Seventeen and GFriend. The company debuted on the local stock market in October and has been expanding its business portfolio by acquiring smaller labels.