A specialized company that integrates distribution and management of K-POP music video contents on a global platform (or Korean version of VEVO) will be established.
Seven companies which represent Korea’s entertainment industry (Mystic Entertainment, Big Hit Entertainment, Star Empire, SM Entertainment, FNC Entertainment, YG Entertainment, JYP Entertainment) will hold a signing ceremony on establishing ‘Music & Creative Partners Asia Co,. Ltd (or MCPA Co,. Ltd) at Seoul Park Hyatt Hotel on Jul 19th at 2pm (KST)
MCPA Co,. Ltd will serve as a representative window for determining and negotiating music video distribution and related policies for YouTube and other global digital service platforms, and will also provide new platform services for distributing music video contents. In addition, it plans to discuss various business expansion plans including music video as well as a broadcasting platform for the production and supply of new contents using related IP.
In particular, MCPA Co., Ltd. is an integrated distribution channel for K-POP music videos and related videos, which are becoming a key trend in the global music industry. In addition to creating new business models and enhancing Korean music content and artists’ global competitiveness, it is planned to grow as a representative company of Asia in the future.
At the signing ceremony, seven representatives of companies attended the ceremony, including Mystic’s CEO Jo Young Chul, Big Hit’s CBO Yoon Seok Jun, CEO of Star Empire Lee Seung Joo, Representative Director of SM Han Se Min, Managing Director of FNC Kim Yoo Sik, Managing Director of YG Choi Sungjun and Vice President of JYP Byun Sang Bong.