YANG, “Chinese Market Pop-Corn Like Explosive Growth”
(홍콩=연합뉴스) 최현석 특파원 = “Just like the corns pop when added heat, the Chinese entertainment market is going to experience an explosive growth.”
YG Entertainment’s Executive Producer YANG HYUN SUK said in an interview with Yeonhap News on Dec 3, “YG’s contents and China’s largest internet company Tencent’s platform come together to create an unimaginable synergy in the Chinese market.”
YANG signed an MOU with Tencent on Dec 2 at W Hotel Hong Kong, which means YG artists’ contents like songs and music videos will be showcased to the local fans through QQ Music, Tencent’s digital music service platform.
Tencent is the owner of WeChat, a mobile messenger with 600 million users and an online messenger QQ with 800 million users.
YANG commented, “In the last ten years, we put our focus on the Japanese market and held back on penetrating the Chinese one that had an uncertain profit structure. However, the Chinese government and corporates like Tencent started their effort in putting prices on music, and the local fan base for YG artists is growing, which make it an opportune time for us to enter this market.”
“The agreement on providing music is just one of 100 agreements. We are entering the Chinese market in full force, creating many entertainment sources with Tencent.”
“The fun sources have to be exciting, and that leads to passion for the dream. When I enjoy doing what I do, then profit follows.”
“The methods of alliance is still undecided, but in a mutual discussion ideas like mobile audition program, developing game programs and artist training were mentioned.”
YANG added, “There were manufacturing companies that entered the Chinese market just for the relatively cheap labor, and had to withdraw due to skyrocketing price. However, contents do not require any physical factories or companies, so there is no chance for failure. The rise in China’s labor cost will trigger consumerism, and that will actually help the business we are running.”
On the Korea-China Free Tree Agreement, he commented, “The issues that were delayed due to regulations will be carried out smoothly from now on, thanks to the FTA.”
“When we settle down in China in about 5 years, this can be an opportunity for us to play the role of a bridge to introduce American or European pop music to the country. As China is a more feasible market than the West with different cultures, the signing of the FTA will allow us to conduct intermediate trade in the entertainment industry,” predicted YANG.
2014. 12. 6.
