Following news that Naver is planning to invest in Big Hit Entertainment as well as the announcement that the company invested in YG PLUS, people believe the era of the "Big 3" companies is coming to an end, and Big Hit Entertainment will reign supreme. Keep on reading to learn more.
On Wednesday, Jan. 27, it was reported that Naver plans to invest a stage in Big Hit Entertainment via a stock exchange. According to articles, Naver and Big Hit Entertainment are looking to merge V Live and Weverse. Both platforms are meant to connect the artist and their fans by promoting communication between the two parties. Instead of competing, the two appear to want to join hands.
ALSO READ: There are The Top 10 Most Popular Singers in South Korea for January
V Live is usually used by artists to live stream, while Weverse has original content fans can purchase, and the artist can share videos, stories, and posts just like on Twitter. V Live operates with 1,603 celebrities, with SM Entertainment, JYP Entertainment, and YG Entertainment artists all utilizing it for live streams.
Weverse is slowly rising with the help of BTS's name, as well as other artists such as ENHYPEN, GFRIEND, SEVENTEEN, and Dreamcatcher.
ALSO READ: Dreamcatcher, TWICE, and More: Reddit K-Pop Selects The Best Albums of 2020
Now that Big Hit Entertainment's Weverse and Naver's V Live will be joining hands, it is expected that the two parties will work together to create a new global fan community that will integrate both features of Weverse and V Live. This lead many people to wonder if SM Entertainment, JYP Entertainment, and YG Entertainment will silently hold hands with Big Hit Entertainment and allow their artists to use a platform run by another entertainment agency.
As of now, Weverse and V Live will continue to operate the same way they currently do, but that is expected to change once the new platform is developed.
It was also reported that Big Hit Entertainment plans to invest 70 billion KRW into YG PLUS, a subsidiary company of YG Entertainment YG PLUS is part of the music distribution, merchandise, and cosmetics industry. The two are planning a strategic partnership and will work together in various business fields.
With that, YG Entertainment and YG PLUS artists are expected to make use of Big Hit Entertainment's platforms, such as Weverse. It is believed that it is only a matter of time until artists such as BLACKPINK, iKON, WINNER, and Jeon Somi will be making use of the global fandom platform.
ALSO READ: BTS and BLACKPINK Selected as Brand Ambassadors for Indonesian E-Commerce Company Tokopedia
Other artists who are not under the Big Hit Labels include CL, Cherry Bullet Dreamcatcher, Henry, Sunmi, Weeekly. The platform also includes non-K-pop acts, with their first one being Gracie Abrams. People are expecting that if YG Entertainment artists join the platform, SM Entertainment and JYP Entertainment will be pushed to join as well.
Do you think this is the end of the "Big 3" era, now that Big Hit Entertainment is monopolizing the industry? Let us know your thoughts in the comments!
For more K-Pop news and updates, always keep your tabs open here on KpopStarz.
KpopStarz owns this article.
Written by Alexa Lewis
