Big Hit Entertainment (‘Big Hit’ hereinafter) and its subsidiary beNX will invest a total of KRW 70 billion in YG PLUS, a subsidiary of YG Entertainment. 

Big Hit held a Board of Directors meeting on January 27th, 2021 and decided to invest KRW 70 billion in total – KRW 30 billion from Big Hit and KRW 40 billion from beNX – in YG PLUS. 

Big Hit, beNX, and YG PLUS have agreed to lay the basis for strategic collaboration through this investment decision and to join hands across diverse business areas – platforms, distribution, and content among others – where they are operating respectively. This means that business in relation to the global membership of artists from YG PLUS will occur through the Weverse platform while YG PLUS collaborates with Big Hit in album/music distribution and MD business. 

The three companies will generate synergy by leveraging a wide array of intellectual property of their artists across far-reaching business areas encompassing entertainment and lifestyle as well as platform business to extend the breath of experiences they offer to fans. 

“This is truly a turning point where two companies, that have been committed to become the best they can be in their own business, now join hands together”, YG PLUS commented on the significance of this collaboration.  

“When YG PLUS brings its powerful network in distribution, MD production and other varying areas to team up with Big Hit and beNX that have strengths in artist IP and platforms, this will surely generate synergy”, Big Hit commented, adding “We will engage in wide-ranging collaborations that will create impact in the overall realms of entertainment and lifestyle and pursue joint growth in so doing”.