The era of lithography joins hands with South Korea's YG Entertainment to discuss the blueprint of the entertainment industry

On May 31, 2016, the "Microfilm Times, Tencent and South Korea YG Entertainment Investment Signing Ceremony" was held in South Korea. At the press conference, Microfilm elaborated on the significance of establishing a deep strategic cooperation relationship with YG and announced that it would work with YG in China to jointly establish a joint venture company JV.

On May 31, 2016, the "Microfilm Era, Tencent and South Korea YG Entertainment Investment Signing Ceremony" was successfully held at 11 a.m. Korean time at Hyatt Regency Nanshan Hotel in Longshan District, Seoul. Lin Ning, President of Microfilm Era, Wang Juan, General Manager of Tencent Video Film and Television Department and Editor-in-Chief of Tencent Video, Yang Minxi, CEO of YG Entertainment, and Cui Chengjun, Director of YG Entertainment Business Planning Department, attended the press conference. At the press conference, lithography elaborated on the significance of establishing a deep strategic cooperative relationship with YG and announced that it would jointly establish a joint venture company JV with YG in China.

Lin Ning (first from left), CEO of Microfilm Era, Liang Minxi, CEO of YG Entertainment, and Wang Juan, general manager of Tencent's Video Film and Television Department, took a group photo.

Lin Ning said in his speech: "As we all know, YG is one of the largest entertainment companies in South Korea, and it is also a famous entertainment and cultural listed company in South Korea. It has superb artist management capabilities and has world-class artists such as BIGBANG and Uncle Bird. YG's artists have enjoyed huge benefits around the world and have become fashion ICON and trend leaders. They also have a very large fan base in China. The lithography era is very concerned about the business prospects of influential YG. We are willing to work with YG to bring high-quality cultural content from South Korea to fans in China and explore more possibilities in the development of the cultural and entertainment industry."

The three parties sign a cooperation contract

It is understood that the two parties will launch China concert projects for artists such as iKON, Epik High, and LeeHi before the establishment of the JV company in the second half of 2016, and expand this list to all YG artists using JV as a carrier in 2017.

In recent years, as the Korean Wave continues to heat up around the world, especially in Asia, South Korea's entertainment and cultural industry has risen rapidly and continues to impact Asian entertainment industries and even world entertainment culture. The mature industrial operation model, profound entertainment culture, and high entertainment spirit have brought huge opportunities for consumption in the entertainment and cultural field in China and will develop at a high speed.

One of the investors is the Microfilm Era, a pan-entertainment marketing and distribution platform based on mobile social networking. In the two years of development, Microfilm Era has had 100 million entertainment consumer users and has successfully cooperated with more than 80% of key music festivals, concerts and other key projects in mainland China, including Strawberry Music Festival, Jazz Music Festival, Le Valley Music Festival, Donghai Music Festival, Zhuhai Music Festival, etc., covering 1200 performance venues across the country, and cooperates with many internationally renowned IPs to exclusively host or co-market such as Wuzhen Theater Festival,"Star Trek", Xiao Huang Ren, Heavy projects such as teddy bears and other super IP tours in China.

In addition, as the preferred marketing and distribution platform for filmmakers, Microfilm Era has rich experience in marketing and distribution. In 2015, it cooperated with more than 200 films, of which 40 films were jointly produced and distributed, creating 9.2 billion yuan in box office. Through IP development, investment production, mobile marketing, Internet distribution and other methods, deeply participate in the entire industry chain. Microfilm will rely on the high-quality resources of the Internet mobile platform and experience in the field of pan-entertainment to join hands with YG to bring South Korea's wonderful music and high-quality performances to the majority of China users.

In the future, Microfilm will explore new operating models with YG through its professional platform "Weige Entertainment" to help upgrade China's performance industry. As an entertainment company focusing on mobile Internet and big data, Weige will make full use of the big data advantages of lithography and carry out in-depth cooperation with YG. Through big data, we can conduct market predictions on entertainment projects under preparation and provide personalized customization of entertainment content to bring a better user experience to fans. YG's high-quality resources will also connect China's huge mobile entertainment user base through microentertainment. In addition, Weige also plans to introduce more Korean high-quality artists into China through JV, making JV into Ai Hui of China.

This cooperation with YG indicates a new breakthrough in the internationalization process of both lithography and YG. Phoenix Investment, one of the investors this time, is an investment M & A fund that manages billions of assets. It was established by senior investors and senior investment bankers in the industry. It focuses on cultural, entertainment, sports, consumption and medical industries at home and abroad, and will also help lithography complete the layout at home and abroad.

Editor: vian