MusicDish e-Journal - August 23, 2017
MusicDish Advertising Network
» HOME » INSIDER SCOOP » CAREER TIPS » MUSIC SPOTLIGHT » MUSICDISH*CHINA
» INDUSTRY INTERVIEWS » NEWS BEAT » DIGITAL SKOOL » OPEN REVIEW » MUSICDISH EDELWEISS
Search MusicDish e-Journal (Advanced)
Subscribe To MusicDish e-Journal
About | Contact | Advertise | RSS | Submit Article | Submit News | Artist Development | Premium PR Distribution
Mi2N | MusicDish*China | MusicDish Network | MusicDishTV | Urban Music News Network

South Korea's YG Entertainment Attracts Chinese Investment
Tencent and Weiying Technology Invest US$85 Million Dollars in YG Entertainment
By Mi2N
(more articles from this author)
2016-06-01
Comment | Email | Print | RSS

YG Entertainment announced that the company will raise a total investment of US$85 million from Tencent and Weiying Technology.

Min-Suk Yang, CEO of YG Entertainment, signed the investment agreements in a ceremony with Suman Wang, General Manager of Film/Drama Department and Editor in Chief of Tencent Video, Lin Ning, CEO of Weiying Technology at Hyatt Hotel in Seoul on May 31st. At the ceremony, the three parties including Korea's leading content provider YG, Tencent, a leading provider of Internet value-added services in China and China's number one online ticketing company Weiying Technology, announced their strategic investment and plans for future growth in China based on collaborative efforts.

YG will issue new common shares amounting to US$55 million to a wholly owned subsidiary of Tencent and Fengying (100% owned investment SPC of Weiying Technology). At the same time, the two investors decided to buy US$30 million in aggregate from YG's largest shareholder, Hyun-Suk Yang and its CEO, Min-Suk Yang.

Weiying Technology and Tencent will respectively invest US$55 million and US$30 million and hold 8.2% and 4.5% in YG, becoming the third and fourth largest shareholders of YG after L Capital Asia, the investment arm of LVMH Group.

Regarding the significance of their partnership and collaboration, YG Entertainment said, "YG has seen over 30% growth every year for the past ten years and in order to maintain such strong growth, YG must expand its business in the Chinese market. As such, YG has been looking for the right partner in China for the past year and decided to partner with Tencent and Weiying Technology." The company added, "In the near future, YG will establish a joint venture in China with the partners to expand the activities of YG artists, actors and actresses and discover and nurture local Chinese artists."

Tencent commented, "The move deepens our already successful relationship with YG, as evidenced by the exclusive content partnership between QQ Music and YG. Leveraging our extensive user reach, multi-platform capabilities and deep understanding of the China market, we look forward to working with YG to meet the huge appetite in China for popular Korean entertainment such as music, concerts and variety shows, and to exploring new business opportunities."

Weiying Technology commented, "Weiying is a fast growing internet company with roots in online ticketing, and became a major player in entertaining business in China within the past 2 years. We truly believe online platform with offline capability like Weiying and Tencent, in-depth linked with the best content provider like YG, could make an enormous combination and magnify the value of contents in new market, like 10 times."

Related News from Mi2N:
» Tencent And Weiying Technology Invest US$85 Million Dollars In YG Entertainment


Home » MusicDish*China » South Korea's YG Entertainment Attracts Chinese Investment
Permalink:http://www.musicdish.com/mag/?id=13817
Email |Print |Comment |RSS

back | top


MusicDish Advertising Network

MusicDish*China

» What's Next in Music? Focuses On China

» Live Nation Responds to Growing Demand for Electronic Music in Asia With New Business Unit

» MusicDish Review: Xi'an Post-Punk Band FAZI 3rd Album "Heart of Desire"

» Canadian Sounds in China (CSC)

» QQMusic: From Streaming Service To Integrated Music Content Producer

MusicDish*China Directory



» [2017-08-15] What's Next In Music? Focuses On China; This Year's "What's Next In Music?" Will Include A Panel Called "Focus Market: China"

» [2017-08-14] Because Acquires Majority Of Former London Records Catalogue; Because Group Acquires Warner Music 90, Encompassing A Majority Of Former London Records Catalogue

» [2017-08-10] BMG Expands In Canada To Build Its Records Business; BMG Is Scaling Up Its Recorded Music Operations In Canada With Dedicated A&R, Marketing And Promotion Resources In Toronto For The First Time

» [2017-08-10] Live Nation Responds To Growing Demand For Electronic Music In Asia With New Business Unit; The First Bill From Live Nation Electronic Asia Will Be A Tour From TiŽsto Supporting His Forthcoming Album CLUBLIFE VOL. 5: CHINA

» [2017-08-07] Streaming Music Services Help UK Entertainment Double Its Growth Rate; Ed Sheeran Trumps Star Wars And Fantastic Beasts To Deliver 2017's Biggest Seller So Far

» [2017-08-07] Paul Rosenberg Named CEO Of Def Jam Recordings; Paul Rosenberg, Renowned For Developing And Supporting The Careers Of Artists Including Eminem, 50 Cent And D12, Among Others

» [2017-08-07] PPL And PRS For Music Launch Music Recognition Technology Pilot; Pilot Includes Iconic Nightclubs Ministry Of Sound And Fabric And Major Club Chain The Deltic Group

» [2017-08-06] Discogs Releases 2017 Mid-Year Marketplace Analysis Nielsen Vs. Discogs - Database Highlights; Highlights Include Discogs (15% Growth) Versus Nielsen (17% Decline)

» [2017-08-02] MusicDish Review: Kenn Rowell Music Video "It's Good To Be Back"; Kenn Rowell, The Rhythm Guitarist, Lead Singer/frontman And Main Songwriter For The NYC Based Old School Punk 'n Roll Band, The Baghdaddios, Released His Solo Album

» [2017-08-02] Fake Artists And Fake Streams: Fact Or Fiction?; Many Irreputable Entrepreneurs Are Now "selling Streams" On Services Such As Spotify

» [2017-08-02] Legendary Rock Group Journey To Sponsor IndyCar Driver Ryan Norman; Journey's Latest Venture Will See The Band Spinning Its Wheels And Going In Circles - Totally On Purpose

» [2017-08-02] Viberate Enables Musicians To Charge For Their Performances In Cryptocurrencies; Viberate Will Allow Musicians To Start Offering Gigs To Event Organizers In Exchange For Crypto Coins Such As Bitcoin And Ether
MusicDish Advertising Network

follow MusicDish on
Follow MusicDish on Twitter

Mi2N Music PR

Strange Loops Releases Debut EP, New Era

Roger D'arcy Release 'Ordinary Man' As The First Track From His New Album The House Of Heads On August 24

Hybrid Studios Joins Earthquaker Devices Studio Program

A Timeless Voice And A Violin - A Duet Like No Other

Caspar McCloud Releases First Acoustic Worship Album "Pictures Of Jesus"

Missing Link Music Signs Bluegrass Songwriter Of The Year Daryl Mosley

Missing Link Music Signs Jazz Icon Najee



Websites: Mi2N | MusicDish*China | MusicDish Network | MusicDishTV | Urban Music News Network
Services: Submit Article | Submit News | Submit Video | Artist Development | Premium PR Distribution

Copyright © 1997-2017 MusicDish LLC., all rights reserved.
About MusicDish e-Journal | Contact Us | Advertise | RSS | Internships