Agencies Including SM, JYP, YG, And Big Hit Jointly Establish New Content Platform Company
Seven entertainment agencies have joined forces for a new global platform company!
On July 19, SM Entertainment, JYP Entertainment, YG Entertainment, Big Hit Entertainment, FNC Entertainment, Mystic Entertainment, and Star Empire Entertainment held a signing ceremony for the establishment of Music & Creative Partners Asia Co., Ltd. (MCPA).The representatives in attendance were SM Entertainment’s CEO Han Se Min, JYP Entertainment’s vice president Byun Sang Bong, YG Entertainment’s executive director Choi Sung Joon, Big Hit Entertainment’s CBO Yoon Suk Joon, FNC Entertainment’s executive director Kim Yoo Shik, Jo Young Chul of Mystic Entertainment, and Lee Seung Joo of Star Empire Entertainment.
The company’s services will be somewhat of a Korean equivalent to Vevo. MCPA will distribute music videos on global digital service platforms including YouTube and serve as the head of determining and negotiating policies regarding this. It will also provide a new platform service that distributes music video contents.
In addition to music videos, the company will continuously discuss ways to expand business including a broadcast platform for the production and supply of new contents.
MCPA was established to create a developmental new business model and for the advancement of the global competitive edge for Korean music contents and artists. It plans on growing into a company that represents Asia.