Big Hit Entertainment has announced that UMG and YG Entertainment (a multifaceted Seoul music company) will invest in KBYK Live, a joint venture Big Hit forged last year with Kiswe (a maker of real-time livestreams). KBYK Live subsequently launched a livestreaming content platform called VenewLive. UMG and YG's equity investment will contribute to the expansion of VenewLive.

The technology underpinning VenewLive has set the standard for online audience engagement. Its streaming stability and video and audio quality were on display during BTS’ 2020 online concerts BANG BANG CON: The Live, which broke records with an audience of 756,000, at the time the largest paid livestream concert ever, and MAP OF THE SOUL ON:E, even bigger, with 993,000 fans.

The shows offered a variety of interactive and premium features, including multi-view capability, delivering a full stage production from multiple angles, as well as 4K resolution, live chat and synchronized light-stick functions.

Said UMG EVP, CFO and President of Operations Boyd Muir, “We are delighted to join Big Hit, YG and Kiswe as partners in KBYK to expand opportunities and livestreaming experiences for UMG artists and their fans today and in the future. As this past year has shown, the need for reliable and innovative livestreaming has never been greater."

Big Hit Global CEO Lenzo Yoon added, “Big Hit’s attempts to maximize the fan experience are not limited to entertainment but also implementing various technologies. KBYK is part of this effort. Our dream is to provide the most advanced technology available so fans can experience the artist’s content in the fullest way possible."