11:05 am - 01/31/2018

SM, JYP, And Big Hit To Launch Joint Music Enterprise



SM Entertainment, JYP Entertainment, and Big Hit Entertainment will be collaborating for a joint business.

The three entertainment agencies along with SK Telecom held an agreement ceremony on January 31 to launch their collaboration for B2B (business-to-business) music distribution and a B2C (business-to-consumer) music service platform.

The agreement was carried forward to establish a virtuous cycle for contents creation and production, create a more efficient and industry-friendly ecosystem, and offer a new and different music service that uses technologies like AI and blockchain.

Beginning on February 1, the B2B distribution of SM, JYP, and Big Hit’s album and digital music contents will be done through SK Telecom subsidiary iriver. Different from the traditional distribution system, the three agencies will actively participate in the distribution process, establish policies for the supply and distribution of contents, and work on internalizing the system.

This aims to help the development of businesses and the industry in the long-run. They will also consider blockchain technology for the protection of music copyrights and increased transparency of transaction records.

Only the three entertainment agencies will participate in this partnership for now, but as the system is tested out and improved, it is expected to slowly expand throughout the year with other agencies who are interested.

The agreement ceremony on January 31 at SK Telecom headquarters was attended by SM Entertainment’s Kim Young Min and CEO Han Se Min, JYP Entertainment’s CEO Jung Wook, Big Hit Entertainment’s CEO Bang Shi Hyuk, and SK Telecom’s No Jong Won.

Source: Star News via Soompi
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jyusou 31st-Jan-2018 10:04 am (UTC)
and none for yg, bye
mc1a 31st-Jan-2018 10:20 am (UTC)
This has nothing to do with your comment or the post but I got so emotional suddenly after seeing your profile pic :')

Just noticed I was even listening to I Need U while writing this.

Edited at 2018-01-31 10:20 am (UTC)
gigabytexx 31st-Jan-2018 10:40 am (UTC)
i understand nothing about business thing, can someone points out to me whether there's anything important to know as a regular fan? I mean if it's just having xxx group's music being distributed by xxx company etc, why does it matter?
Is there any party that can have more benefit by doing this?
baekpedaling 31st-Jan-2018 10:41 am (UTC)
I'm too dumb to understand what any of this means.
shintotchi 31st-Jan-2018 11:47 am (UTC)
For anyone else who is confused, my friend said that essentially JYP, SM, and BigHit have come together to form their own version of Tidal lol. I don't know if the content will be exclusive to their platform though. :P
lil_poisonfrog 31st-Jan-2018 01:08 pm (UTC)
I had a feeling by how vague this was that there was gonna be some fuckery lol
demeulemeester 31st-Jan-2018 12:05 pm (UTC)
@bang sihyuk pls put glam's unreleased songs on it
jeliza 1st-Feb-2018 06:33 am (UTC)
Yes please. I couldn't even find a place to buy In Front of the Mirror back when it was actually released. :(
angela_derp_otp 31st-Jan-2018 12:12 pm (UTC)

genie didnt work and this is unlikely to work too, are they going to scrap their content from   other platforms completely ?  this is so useless at a physical  distribution level  as welll....  just another way to try and keep their  control in  the industry, that's  why they pulled big hit with them,  its their "Rogue one" lol.



Edited at 2018-01-31 12:12 pm (UTC)
smilla_sini 31st-Jan-2018 01:05 pm (UTC)
Thanks but no thanks, I'll stick to KT/genie, the superior service. If they're gonna pull out their content from there, well, it's their loss.
yixingsforehead 31st-Jan-2018 01:05 pm (UTC)
google and apple shaking

(jk they will just wait and see and copy the parts that perform well)

i don't think it's necessarily their tidal? or not just that.

i mean i'm only talking to my crystal ball, so don't mind me too much.

it's more like they're gonna do stuff like gd did that of 'do usb sticks count as physical sales' drama fame. i still remember the 7 days when iriver was a thing, so i would guess there mist be some knowhow there...

so i brace myself for exo logo-shaped usb sticks more than anything.

in the distribution-ai side of things my crystal ball tells me of much more interesting stuff, but those 3 (4) would have to pay me a couple of thousand dollars for me to open my mouth on that.

edit:
nah to most of what i said, i re-read the news......so i guess it's just going to be digital. meh.

Edited at 2018-01-31 01:08 pm (UTC)
lil_poisonfrog 31st-Jan-2018 01:12 pm (UTC)
Is bitcoin having a moment right now in Korea or sth? Feels like suddenly all these idols are talking about the blockchain n shit. I've never heard of how that technology can be used outside of a cryptocurrency so I'm confused as to how it applies to music distribution. This whole thing reads shady tbh...ia w/ whoever above said this is just some shenanigans to consolidate power in the industry.
rainstormraider 31st-Jan-2018 02:52 pm (UTC)
Bitcoin is having a moment everywhere right now. My old ass parents are attending workshops on it.
Its ridiculous.
donaldjdrumpf 31st-Jan-2018 01:37 pm (UTC)
This signals that BigHit has replaced YG as one of the big three!
suggestivepeach 1st-Feb-2018 07:21 am (UTC)

LOL

xlovexlessxtyx 31st-Jan-2018 02:29 pm (UTC)
So if they plan to distribute material through this exclusive service does this mean they'll be removing music from other streaming services like Apple Music and Spotify?

I feel like a big part of the globalization of music has been those streaming services and suddenly ditching them for something entirely native to S-Korea would be... idk, foolish? We'll still have to wait and see how this unfolds. But if I waited this long for a Yubin solo project and it's suddenly a digital exclusive to this new mystery platform imma be PISSED.

Though if this means we're getting more collabs between SM, JYP & Big Hit artists, then I'm all for it.
mc1a 31st-Jan-2018 02:40 pm (UTC)
From my understanding, it's just a domestic thing so they wouldn't remove their music from International streaming services (they don't even have Spotify in Korea). It is speculated that this whole business venture is in response to the debt that Korean streaming services owe the entertainment companies so they are making this new platform for better royalties for them and their artists.

I don't know if I explained it properly but people on reddit have more explanations and opinions on this.
rainstormraider 31st-Jan-2018 02:46 pm (UTC)
In the original discussions, wasn't YGE the third company rather than Big Hit?
rosiemotleymind 31st-Jan-2018 03:11 pm (UTC)
Lmao YG has been kicked out of the plastics.
callherblondie 31st-Jan-2018 04:11 pm (UTC)
*cough*Korean Tidal*cough*

*cough*Will prob do as well as Tidal did*cough*

If it results in cross-agency collabs with their rosters, then I'm all for it bc that could be fuuuuun.
youtubelargo 31st-Jan-2018 04:53 pm (UTC)
I AM cautiously optimistic for that. Lady-killer RVTwice pls.
integrawh 31st-Jan-2018 06:48 pm (UTC)
Cute.
Pann-choa translated comments as well. If anyone is interested: https://pann-choa.blogspot.com/2018/01/enter-talk-sm-jyp-bighit-held-hands.html
So... YG already signed this waaaaaaaaaaay before with Genie music and recently renewed their contracts? (I heard SM did not renew, not sure about JYP but looks like they didn't) YG also signed with Naver or smth? (http://www.koreaherald.com/view.php?ud=20171018000684)
Also Big3 is about being a big enough company that can produce multiple bands. So BigHit can come back when they produce more than one award winning band.
mc1a 31st-Jan-2018 07:25 pm (UTC)
Also Big3 is about being a big enough company that can produce multiple bands. So BigHit can come back when they produce more than one award winning band.

???
integrawh 31st-Jan-2018 06:52 pm (UTC)
Sorry for commenting again but this basically explains it:
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