By Emmanuel Legrand
South Korean music companies Big Hit Entertainment and YG Entertainment have partnered with Universal Music Group and cloud-based video company Kiswe to launch a digital live streaming platform on a global scale.
Big Hit, YG and UMG have invested in KBYK Live, a joint venture that was established with Kiswe last year and is responsible for the launch of live streaming content platform VenewLive in September 2020. The equity investment from YG and UMG will help expand VenewLive, said the companies. Powered by Kiswe’s technologies, VenewLive can customise each concert experience in a personalised way.
“Our technology will be the basis for enabling fans to feel closer to artists, and help artists express their energy on a digital stage," said KBYK Live CEO John Lee.
UMG Executive Vice President, Chief Financial Officer and President of Operations Boyd Muir added: “We are delighted to join Big Hit, YG and Kiswe as partners in KBYK as we look to help further evolve the opportunities and live streaming experiences for UMG artists and their fans today, and into the future."
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