It seems that the era of the 'Big Three (YG, SM, JYP)' is becoming a thing of the past as Big Hit Entertainment is rising as the 'One Top' agency in the entertainment industry in South Korea.
On January 27th, Big Hit Entertainment held a board meeting making a decision as Naver intends to invest a stake in Big Hit Entertainment, home to BTS, through a "stock exchange" method. Big Hit Entertainment has also decided to invest 70 billion KRW ($63 million) in YG PLUS, a subsidiary of YG Entertainment.
Big Hit Entertainment is completely breaking down the three major agencies' systems that have been around for about 20 years by establishing an artist content platform called Weverse that various artists such as BTS, Seventeen, TXT, ENHYPEN, NU'EST, GFriend, and Zico can be found in. Now, as Big Hit Entertainment joins hands with Naver's VLive, the K-Pop entertainment industry is gathering under the system formed by the agency home to the global group BTS.
According to the announcement, Big Hit will work with Naver to create a new global fan community platform that integrates users, contents, and services of both companies. Big Hit, which has accumulated experience and know-how in the entertainment market for a long time, will lead the business as the largest shareholder. Naver will focus on technology capabilities to maximize the synergy between the two companies. As Big Hit takes over Naver's V LIVE, SM and JYP's future has also emerged as a matter of particular interest. A Big Hit official said, "Until the specific direction is confirmed, Weverse and V-Live will operate the same as they currently do." Still, many wonder if SM and JYP artists will be joining the new platform created by Big Hit Entertainment and Naver.
Big Hit Entertainment and YG PLUS have also agreed to lay the foundation for strategic cooperation and cooperation in various business areas that each company is developing, including production and distribution of merchandise and content. YG PLUS artists' global membership business will be carried out as Weverse and YG PLUS will collaborate with Big Hit's music and music distribution and MD business. Other artists, not from the Big Hit label, who entered Weverse include CL, P1Harmony, Weeekly, Sunmi, Henry, Dreamcatcher, Cherry Bullet, and Gracie Abrams. It is only a matter of time before BLACKPINK and other YG artists join Weverse that is becoming a popular and powerful global fan platform.