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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. 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.” This past year has shown that the need for reliable and innovative live-streaming has never been greater. 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. 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.” 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.”
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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. The former drew in a peak concurrent audience of 756,000 while the latter was viewed by a total of 993,000 audience worldwide. 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. VenewLive’s technologies have been proven to show high-engagement with fans through numerous record-breaking concerts of Big Hit artists last year. 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. 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 the multi-view live streaming. The two companies officially established KBYK Live in September, and the launch of VenewLive, the live streaming content platform, followed shortly after. With the equity investment, YG and UMG are seeking to help expand “VenewLive” further alongside Big Hit and Kiswe, in ways which a range of artists, including those signed with UMG and YG can participate.īig Hit and Kiswe signed an MOU in May of last year. KBYK Live then officially launched VenewLive in September, the live streaming content platform. SEOUL – Febru– Big Hit Entertainment (“Big Hit”), YG Entertainment (“YG”), Universal Music Group (“UMG”), and Kiswe are joining forces to embark on a journey to launch a digital live streaming platform on a global scale.īig Hit today announced that YG and UMG would invest in KBYK Live, a joint venture that was established with Kiswe last year.
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YG AND UMG CO-INVEST IN JV BETWEEN BIG HIT AND KISWE EXPECTING TO EXPAND ARTIST IP PLATFORMīIG HIT, YG AND UMG AIM TO LEAD INNOVATIVE PERFORMANCE EXPERIENCE WITH KISWE LAUNCH OF “VENEWLIVE” BASED ON MULTI-VIEW, 4K AND STABLE STREAMING TECHNOLOGY