Tencent Signs Deal With K-Pop Agency Behind Psy, Big Bang

On Tuesday, November 2, 2014 Tencent Holding revealed to the public that they have signed an agreement with YG Entertainment.

The details of the agreement and contract were not revealed to the public. However, according to the Wall Street JournalTencent, who controls access to online games and social networks of hundreds of millions of users in China, will become the leading force in allowing YG to have an exclusive weight in terms of online distribution. 

Although YG songs and music videos are available on multiple online platforms around China, those previously made contracts will expire by the end of the year, which then will allow Tencent to become the sole online partner and collaborater starting from January 1, 2015.

Korean pop music and TV shows have been popular with young consumers in China who offer a strong market for both Tencent and YG Entertainment.

YG's launch of clothing and cosmetic product line over the past few months will soon be making an appearance in the Chinese market as well. 

Along with YG Entertainment other entertainment companies are currently looking to expand their market to China. Earlier this year, SM Enterainment, another major Korean entertainment agency, partnered with Hong Kong's Media Asian and Taiwan's Fubon Group for an investment fund deal with a $20 million in seed money to support film and TV projects that will focus on China.

With Korean entertainment becoming a rapid hit globally, the partnership with global enterprises is no surprise.

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Psy
Big Bang
tencent
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