Four global companies — Big Hit Entertainment, YG Entertainment, Universal Music Group, and Kiswe — have partnered to create a new live-streaming platform called VenewLive.
Big Hit Entertainment announced today they have established a joint venture with Kiswe called KBYK Live, with both YG Entertainment and Universal Music Group also investing in the project. VenewLive is the first project from KBYK Live, and plans to become a global-scale platform for musicians and artists to live-stream their content.
Big Hit Entertainment signed a memorandum of understanding with Kiswe back in May 2020 and started their joint venture in September 2020. Since then, the two companies have been working together to launch VenewLive. With the addition of YG Entertainment and Universal Music Group, VenewLive is expected to secure numerous high-profile artists from around the world, while also expanding on its content provided by improving their technology, such as multi-view streaming.
VenewLive’s CEO John Lee commented on the strength of VenewLive, and what it can provide to fans in the future.
VenewLive has already live-streamed several large-scale performances last year, and provided unique and immersive fan concert experiences that can only be offered through our cutting-edge technology, such as 6-angle multi-view, 4K streaming, and various other interactive features.
Our technology will be the start for allowing fans to feel closer to their artists, and also help the artists show their energy on a digital stage.
— John Lee
YG Entertainment’s COO (Chief Operating Officer) Choi Sung Jun commented on the company’s excitement for the platform.
We are excited about this investment opportunity as our company, with many artists that are competitive on a global stage, has secured a high-quality platform with leading technology.
We will continue to do our best to provide more interactive experiences and new services to our global fans.
— Choi Sung Jun
Universal Music Group’s executive vice president Boyd Muir also shared the company’s excitement at being able to partner with Big Hit Entertainment, YG Entertainment, and Kiswe to further evolve the way fans can see their favorite artists online.
Finally, Big Hit Entertainment’s global CEO Yoon Seok Jun shared his thoughts about how the new technology will allow fans to experience their artists in more ways.
Big Hit Entertainment’s attempts to maximize the fan experience are not just limited to entertainment, but also by implementing various new technologies. VenewLive is part of this.
Our dream and goal is to ensure that our fans can experience our artists’ content in the best way possible, regardless of the environment they are in, by providing the most advanced technology available. We will continue to study how new technology can have a positive impact in various fields, and actively introduce them when they can have a positive impact on the fan experience.
— Yoon Seok Jun
In the past, VenewLive hosted all of Big Hit Labels’ online concerts for BTS, SEVENTEEN, GFRIEND, ENHYPEN, and their New Year’s Eve Live. They have also hosted Justin Bieber‘s New Year’s concert, and AJR‘s Christmas concert.
