MusicDish e-Journal - August 21, 2018
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

» The 2018 MIDEM Silk Road International Music Alliance Signing

» MusicDish Announces A Love Electric 2018 China Tour

» Avant-Garde Label Maybe Noise Launches In Beijing

» Award-Winning Lithuanian Rock Band Colours Of Bubbles "She Is The Darkness" 2018 China Tour

» NetEase Cloud Music Sign Distribution Partnership With B2 Music

MusicDish*China Directory



» [2018-06-23] The 2018 MIDEM Silk Road International Music Alliance Signing; International Music Industries Signing Of A Mutual Resource Sharing Agreement With Shanghai Conservatory Of Music & The China Records Group

» [2018-06-06] Screen Music Connect To Explore The Music Of Film, Television And Interactive Media; Created By James Hannigan, Award-winning Composer And Game Music Connect Co-founder, Screen Music Connect Builds On The Success Of The Sold-out Game Music Conferences

» [2018-06-05] Fred Casimir To Develop BMG's Global Recordings Business; As Well As Building BMG's European Infrastructure, Casimir Was Instrumental In Developing BMG's Recordings Business

» [2018-06-03] 13 Music Label Sold To MTN; DSN Music Spins Off Record Label To Albuquerque Music Entrepreneur's New Group

» [2018-06-02] CISAC 2018 Annual Report; A Comprehensive Overview Of The Confederation's Work To Serve 4 Million Creators And 239 Authors Societies Across The World

» [2018-06-02] MusicDish Announces A Love Electric 2018 China Tour; The Tour Will Crisscross Through China With 12 Shows In 8 Cities, Including Guangzhou, Dongguan, Zhuhai, Shenzhen, Kunming, Jiaxin, Wuhan And Beijing

» [2018-06-02] Darcus Beese Named President Of Island Records; Renowned U.K. Music Executive To Join Universal Music Group's U.S. Label Leadership

» [2018-05-17] Avant-Garde Label Maybe Noise Launches In Beijing; The Official Launch Will Be On May 26 At Magnet Theater With A Performance Supporting Its First Vinyl Release: Píng Zč

» [2018-05-04] Award-Winning Lithuanian Rock Band Colours Of Bubbles "She Is The Darkness" 2018 China Tour; The Tour Will Kickoff In Shanghai Where The Band Will Represent Lithuania During The Country's Signing To The Silk Road Music Alliance

» [2018-05-01] Hollywood Heavyweights Launch New Christian Music Label; Their Debut Release, Firma Collective - Songs For Every Soul, Was Produced By Mgrdichian And Mixed By The Legendary Brian Reeves

» [2018-04-30] Pop Artist Ava King Releases New Single; Paris-born Ava King Decided To Move To Beijing Where She Wrote For One Of The Biggest Chinese Movie Production Companies, HuaYi Brothers

» [2018-04-27] NetEase Cloud Music Sign Distribution Partnership With B2 Music; Chinese Music Streaming Service To Release Billboard "Best Of Asia" Album Series
MusicDish Advertising Network

follow MusicDish on
Follow MusicDish on Twitter

Mi2N Music PR

Cinq Music Partners With Janet Jackson For First Independent Release On Her Rhythm Nation Records

Rick Vines Debut Release "So Happy!"

IES 18 Explodes With WARPED Kevin Lyman’s 1st Appearance After 24 Year Run

OcnSide Releases Summery Indie-Pop Single “Taking Me Over”

indieOn Connects Music To The Blockchain And Creates Better Experiences For Artists And Music Fans

Singer/Songwriter Mariel Darling Releases First Single And Video “No Mirrors”

LESLIE WOODS RELEASES FIRST NEW MUSIC IN THREE YEARS



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

Copyright © 1997-2018 MusicDish LLC., all rights reserved.
About MusicDish e-Journal | Contact Us | Advertise | RSS | Internships