Big Hit Entertainment, YG Entertainment, Universal Music Group, and Kiswe join forces to launch a digital live streaming platform on a global scale.
Big Hit announced that YG and UMG invested in KBYK Live, a joint venture established with Kiswe last year. KBYK Live then officially launched VenewLive in September, the live streaming content platform. With the equity investment, YG and UMG seek to help expand "VenewLive" further alongside Big Hit and Kiswe in ways in which a range of artists, including those signed with UMG and YG can participate.
"We have been developing video streaming and fan engagement technology since 2013 and are excited to use that digital technology to extend beyond the boundaries of a stadium to help artists perform to their global fans and for those fans to feel like they are part of the concert," says Mike Schabel, chief executive officer, Kiswe. "Having supported truly live Pay Per View concerts with some of the biggest artists in the world, we strive to deliver incredible experiences for every fan."
"Big Hit's attempts to maximize fan experience are not limited to entertainment, but also implementing various technologies," says Lenzo Yoon. Chief executive officer, Big Hit Global "KBYK is also part of this effort. Our dream and goal is to provide the most advanced technology currently available so that fans can experience the artist's content in the best way possible under any circumstances. We will continue to study how new technologies and attempts in various fields can have a positive impact on strengthening our fan experience and actively introduce them."
Powered by Kiswe's technologies, VenewLive can customize each concert experience to fit each artist's identity and characteristics while providing innovative and original performance experiences for fans to enjoy their favorite artist's content in a customized way.
"VenewLive has already live-streamed several large-scale performances last year and provided unique immersive fan concert experiences that can be offered through our cutting-edge technologies, including six-angle multi-views, 4K resolution and various interactive features," says John Lee, chief executive officer, KBYK Live. "Our technology will be the basis for enabling fans to feel closer to artists and help artists express their energy on a digital stage."