{"id":4288,"date":"2016-05-30T06:56:06","date_gmt":"2016-05-30T04:56:06","guid":{"rendered":"http:\/\/eastwind.es\/marketing\/en\/?p=4288"},"modified":"2016-05-30T09:13:05","modified_gmt":"2016-05-30T07:13:05","slug":"tencent-and-weiying-technology-take-85-mill-dollars-stake-in-yg-entertainment","status":"publish","type":"post","link":"https:\/\/eastwind.es\/marketing\/en\/tencent-and-weiying-technology-take-85-mill-dollars-stake-in-yg-entertainment\/","title":{"rendered":"Tencent and Weiying Technology take 85 mill dollars stake in YG Entertainment"},"content":{"rendered":"

Tencent and China’s number one online ticketing company ,Weiying Technology, are investing $85 million in YG Entertainment, one of the leading record labels in the Korean pop landscape.<\/p>\n

Established by Yang Hyun-suk, former member of legendary Korean group Seo Taiji and Boys teaming with his younger brother Yang Min-suk in 1996 as a record label devoted to hip hop, the company has become one of the three big players in the Korean pop music segment along with SM Entertainment and JYP Entertainment.<\/p>\n

Leaving aside the record label, YG (Yang Goon) Entertainment operates a talent agency, a clothing line, cosmetics brand, an event management and concert production company, music production company, and music publishing house.<\/p>\n

Min-Suk Yang, CEO of YG Entertainment, will sign the investment agreements in a ceremony with\u00a0Suman Wang, General Manager of Film\/Drama Department and Editor in Chief of\u00a0Tencent\u00a0Video,\u00a0Lin Ning, CEO of Weiying Technology at Hyatt Hotel in Seoul\u00a0tomorrow 31st May.<\/p>\n

Weiying Technology and\u00a0Tencent\u00a0will respectively invest\u00a0US$55 million\u00a0and\u00a0US$30 million\u00a0and 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.<\/p>\n

Weiying Technology operates the mobile ticketing application called Wepiao, which runs on Tencent’s platforms including QQ and Weixin. The company sells tickets for movies, shows and sporting events online and has over 20 million active users.<\/p>\n

Weiying Technology acquired Gewara, the second largest player in the ticketing market last year, to reinforce its number one position in the Chinese market. Based on its online ticketing business, Weiying Technology is expanding its business scope to the content development area including film production and concert organization.<\/p>\n

Tencent\u00a0operates the most popular social and media platforms in\u00a0China, including QQ and Weixin\/WeChat for communications, QQ Music for music content and\u00a0Tencent\u00a0Video for video content.\u00a0Tencent\u00a0has been working with YG since 2015 with QQ Music exclusively distributing YG’s music and MV content in\u00a0China. YG and\u00a0Tencent\u00a0also plan to co-produce media content together in the near future.<\/p>\n

Tencent\u00a0commented, \u00abThe 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\u00a0China\u00a0market, we look forward to working with YG to meet the huge appetite in\u00a0China\u00a0for popular Korean entertainment such as music, concerts and variety shows, and to exploring new business opportunities.\u00bb<\/p>\n

Weiying Technology commented, \u00abWeiying\u00a0is a fast growing internet company with roots in online ticketing, and became a major player in entertaining business in\u00a0China\u00a0within the past 2 years. We truly believe online platform with offline capability likeWeiying\u00a0and\u00a0Tencent, in-depth\u00a0linked with the best content provider like YG, could make an enormous combination and magnify the value of contents in new market, like 10 times.\u00bb<\/p>\n","protected":false},"excerpt":{"rendered":"

Tencent and China’s number one online ticketing company ,Weiying Technology, are investing $85 million in YG Entertainment, one of the leading record labels in the Korean pop landscape. Established by Yang Hyun-suk, former member of legendary Korean group Seo Taiji and Boys teaming with his younger brother Yang Min-suk in 1996 as a record label …<\/p>\n

Tencent and Weiying Technology take 85 mill dollars stake in YG Entertainment<\/span> Leer m\u00e1s »<\/a><\/p>\n","protected":false},"author":8,"featured_media":4292,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[3],"tags":[2627,716,410,3923,3924,2254,3920,3922,3921],"yst_prominent_words":[],"_links":{"self":[{"href":"https:\/\/eastwind.es\/marketing\/wp-json\/wp\/v2\/posts\/4288"}],"collection":[{"href":"https:\/\/eastwind.es\/marketing\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eastwind.es\/marketing\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eastwind.es\/marketing\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/eastwind.es\/marketing\/wp-json\/wp\/v2\/comments?post=4288"}],"version-history":[{"count":0,"href":"https:\/\/eastwind.es\/marketing\/wp-json\/wp\/v2\/posts\/4288\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eastwind.es\/marketing\/wp-json\/wp\/v2\/media\/4292"}],"wp:attachment":[{"href":"https:\/\/eastwind.es\/marketing\/wp-json\/wp\/v2\/media?parent=4288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eastwind.es\/marketing\/wp-json\/wp\/v2\/categories?post=4288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eastwind.es\/marketing\/wp-json\/wp\/v2\/tags?post=4288"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/eastwind.es\/marketing\/wp-json\/wp\/v2\/yst_prominent_words?post=4288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}