Seven Korean entertainment agencies connect to set up K-Pop streaming service
Seven of South Korea’s biggest entertainment companies have teamed up to set up a new company called ‘Music & Creative Partners Asia’ (MCPA) to distribute and stream K-Pop music videos.
The companies are SM Entertainment, JYP Entertainment, YG Entertainment, Big Hit Entertainment, FNC Entertainment, Mystic Entertainment, and Star Empire Entertainment.
The Vevo-like MCPA will be in charge of all aspects regarding the distribution of music videos and related content (including YouTube) and is planning on creating a new platform service to create and supply K-Pop MVs.
The global expansion comes as K-Pop had its first #1 in the US, the world’s largest music market, in May.
Pop band BTS debuted at #1 with its Love Yourself: Tear album – the first mostly-foreign language album to top the American charts in 12 years.
Last year BTS reportedly were tweeted about half a billion times – more than President Trump or Justin Bieber.
Earlier in the year, BTS were the first K-Pop band to play the Billboard Music Awards, with a slickly choreographed performance of their new single Fake Love.
BTS stands for Bangtan Boys or Bulletproof Boy Scouts or Beyond The Scene.
As in Australia, K-Pop acts have been selling out arena shows in the US, and made names out of he nine-member dance-pop Girls’ Generation, Big Bang, 2PM, Super Junior and Wonder Girls.
Many of these acts have carefully chosen US-born or raised Korean singers/dancers who can speak English fluently.