Universal Music Group (UMG), Big Hit Entertainment (Big Hit), YG Entertainment (YG), and Kiswe have teamed up to launch a digital live streaming platform on a global scale.
Big Hit had announced that YG and UMG would invest in KBYK Live, a joint venture that was 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 are seeking 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.
Big Hit and Kiswe signed an MOU in May of last year. The two companies officially established KBYK Live in September, and the launch of VenewLive, the live streaming content platform, followed shortly after.
With the addition of YG and UMG, VenewLive is expected to secure globally renowned artist line-up and high-quality performance contents represented by Big Hit, YG, and UMG, while further expanding the platform by utilizing Kiswe’s technologies including multi-view live streaming.
Powered by Kiswe’s cutting-edge technologies, VenewLive can customize each concert experience to fit the identity and characteristics of each artist while providing innovative and original performance experiences for fans to enjoy their favorite artist’s content in a uniquely customized, authentic, and personalized way.
VenewLive’s technologies have been proven to show high-engagement with fans through numerous record-breaking concerts of Big Hit artists last year. Streaming stability and high-quality video and audio were demonstrated through BTS’ online concerts; “BANG BANG CON The Live” and “MAP OF THE SOUL ON:E” in June and October respectively. The former drew in a peak concurrent audience of 756,000 while the latter was viewed by a total of 993,000 audience worldwide. The shows also offered a variety of interactive and premium features such as multi-view technology, delivering a full stage production from multiple angles, 4K resolution, live chat, and synchronized light sticks functions.
KBYK Live CEO John Lee said, “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 6-angle multi-views, 4K resolution, and various interactive features.” He added, “Our technology will be the basis for enabling fans to feel closer to artists, and help artists express their energy on a digital stage.”
YG Entertainment Chief Operating Officer Sung-Jun Choi said, “We are excited about this investment as our company with many artists competitive on a global stage has secured a high-quality platform with leading technologies.” He added, “We will continue to do our best to provide more interactive experiences and new services to global fans.”
UMG Executive Vice President, Chief Financial Officer, and President of Operations Boyd Muir said, “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. This past year has shown that the need for reliable and innovative live-streaming has never been greater. VenewLive offers some of the most creative and memorable opportunities for today’s artists to globalize their art and performances, tailored to enhance the community and fan-experience.”
Kiswe CEO Mike Schabel said, “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. 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 Global CEO Lenzo Yoon said, “Big Hit’s attempts to maximize fan experience are not limited to entertainment, but also implementing various technologies. KBYK is also part of this effort.” He added, “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.”
