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YG Plus

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YG Plus Inc.
Native name
YG 플러스
FormerlyPhoenix Holdings Inc.
Company typePublic
KRX: 037270
Industry
FoundedNovember 15, 1996; 27 years ago (1996-11-15)
Headquarters
07326 10, Gukjegeumyung, Yeongdeungpo, Seoul
,
South Korea
Key people
Choi Sung-jun (CEO)
Yang Min-seok (chairman of the board of directors)
Products
Revenue
  • Increase ₩1.4 trillion (US$1.23 billion) (2022)
  • ₩1.2 trillion (US$1.05 billion) (2021)
  • Increase ₩220 billion (US$192.32 million) (2022)
  • ₩103 billion (US$90.04 million) (2021)
  • Decrease ₩167 billion (US$145.99 million) (2022)
  • ₩226 billion (US$197.56 million) (2021)
Total assets
  • Increase ₩2.41 trillion (US$2.11 billion) (2022)
  • ₩2.23 trillion (US$1.95 billion) (2021)
Owner
ParentYG Entertainment
Subsidiariessee list
Websiteygplus.com
Footnotes / references
[2][3][4]

YG Plus Inc. (previously Phoenix Holdings Inc.) is a South Korean publicly traded media and advertising company acquired by YG Entertainment in November 2014. In 2019, the company entered the music distribution industry and also engages in production, distribution, and licensing of merchandise related to music artists. In January 2021, Hybe Corporation and its technology subsidiary, Weverse Company, acquired 17.89% of the company in a merchandising and distribution deal that would see YG Entertainment's artists join Weverse in return.

History

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YG Entertainment acquired Phoenix Holdings, a public relations company from Bongwan Group, in November 2014 and rebranded it as YG Plus.[5][6] Yang Min-suk, the younger brother of YG Entertainment founder Yang Hyun-suk, was appointed as the company's CEO, with YG Entertainment owning 38.6% of the company's shares.[7] In 2019, the company entered the music distribution industry. On January 27, 2021, it was revealed that Hybe Corporation, and its technology subsidiary, Weverse Company (formerly beNX) invested 70B KRW (~63M USD) in the company,[8] acquiring 17.9% of the company in a merchandising and distribution deal that would see YG Entertainment's artists join Weverse in return.[9] In March 2021, Choi Sung-jun was appointed as the new CEO while Yang Min-suk was appointed as the executive director for the company.[10]

Notable distributed labels

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Present

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South Korean

Former

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Subsidiaries

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Moonshot

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Moonshot (stylized in all lowercase) is a cosmetics brand launched by YG on October 2, 2016.[11] Developed with China's Huanya Group and in partnership with the cosmetics manufacturing company COSON, the brand is named after Apollo 11's historical 1969 landing on the Moon. Its cosmetics are manufactured in South Korea and sold online as well as in-store in Samcheong, where according to Paik Ho-jin, an employee of the brand, Chinese shoppers account for 40-50% of the customers.[12] As part of YG's partnership with French luxury conglomerate LVMH, Moonshot was launched at 11 Sephora stores in Singapore and at 13 Sephora stores in Malaysia on September 24, 2015.

Nona9on

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Nona9on is a luxury street-wear brand founded in early 2012 by YG and Samsung’s textile subsidiary company Cheil Industries.[13][14] It operates through secondary retailers and pop-up stores, such as its first pop-up at Apgujeong’s Galleria Department Store. Following its domestic success, the clothing line also quickly sold out in its first international pop-up stores in 10 Corso Como shops in Milan, as well as other locations in Shanghai and Hong Kong. The brand plans to open a pop-up store at JayCo in Taiwan. It often features Bobby & B.I from iKon and Lisa from Blackpink in their commercials and promotions.[12]

YG Sports

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YG Golf Academy was established in March 2015, by acquisition of G-AD Communication, a golf agency that handled notable professional South Korean golfers such as Kim Hyo-joo, with YG Plus' aims to expand into golf businesses.[15] Leading golf coach Han Yeon-hee was recruited as the head instructor of the academy. In January 2017, it was renamed as YG Sports to expand into sports businesses.[16]

YG Studioplex

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YG Studioplex (stylized in all caps) is a TV drama production company jointly established by YG and Barami Bunda Inc. in April 2017. The studio will "specialise in the production of Korean Wave contents" and enter the global market.[17] The studio was preceded by YG's attempts to get involved in the content production industry, following in the footsteps of SM Entertainment's SM C&C and CJ E&M (now CJ ENM)'s Studio Dragon. In 2016, YG participated in a joint production with NBCUniversal by investing in SBS's Moon Lovers: Scarlet Heart Ryeo. Since then, YG has also actively recruited program directors (PD) from various terrestrial broadcasters, including Producer Park Hong-kyun, who worked on MBC's Queen Seondeok and The Greatest Love.

Works

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Other assets

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Seoul Music

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Not to be confused with Seoul Records, a predecessor of the record label now known as Kakao Entertainment.

SEOUL MUSIC (서울뮤직) is YG Plus' brand for music promotion and distribution, which started in June 2019 after it took over the operation of social media accounts of the now-defunct sister label HIGHGRND.[18]

References

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  1. ^ "YG PLUS, INC. (A037270)". July 17, 2024. Retrieved July 17, 2024.
  2. ^ "YG PLUS - Company Profile and News - Bloomberg Markets". Retrieved August 17, 2021 – via Bloomberg L.P.
  3. ^ "Financials - YG PLUS". YG Plus. Retrieved November 2, 2023.
  4. ^ "YG Plus Ownership Structure". YG Plus.
  5. ^ Cha, Jun-ho (July 29, 2021). "Lessons learned from Blackpink label's M&A flops". Korea Economic Daily. Retrieved August 17, 2021.
  6. ^ Yoo, Yoon-Jeong. "보광, 실적 악화일로…홍석규 회장, 계열사 지분 잇따라 처분". ChosunBiz (in Korean). Retrieved August 17, 2021 – via Naver.
  7. ^ "Min-Suk Yang, YG Entertainment Inc: Profile and Biography". Retrieved August 17, 2021 – via Bloomberg L.P.
  8. ^ Hwang, Hye-jin (January 27, 2021). "빅히트 측 "YG에 700억 규모 투자 단행, 음반음원 유통 사업 협업"(공식)". Newsen (in Korean). Archived from the original on April 16, 2021. Retrieved April 9, 2021.
  9. ^ Alexei Barrionuevo (January 28, 2021). "BTS' Label Big Hit Entertainment Buys Stake in K-Pop Rival YG Entertainment". Microsoft News. Archived from the original on June 9, 2021. Retrieved June 9, 2021.
  10. ^ "Sung-Jun Choi, YG Plus: Profile and Biography - Bloomberg Markets". Retrieved August 17, 2021 – via Bloomberg L.P.
  11. ^ "Moonshot Cosmetics Official Website". Retrieved September 25, 2015.
  12. ^ a b "South Korean pop culture taking Asia by storm". Nikkei Asia. January 8, 2015. Retrieved September 25, 2015.
  13. ^ "YG Entertainment and Samsung's Cheil Industries Partners to Launch New Global Fashion Line". Enews World. Retrieved March 11, 2015.
  14. ^ "YG Entertainment's fashion venture". The Korea Times. October 13, 2014. Retrieved October 23, 2014.
  15. ^ Won, Jeon (March 3, 2015). "YG, 골프사업 본격 진출… '김효주 소속사 인수'".
  16. ^ Shin, Chang-beom (January 31, 2021). 골프 업체 지애드, 'YG스포츠' 사명 변경. The Chosun Ilbo (in Korean). Retrieved August 19, 2021.
  17. ^ "[단독]YG스튜디오플렉스 설립…CJ-SM 이어 '드라마 韩流' 빅뱅". April 27, 2017.
  18. ^ SEOUL MUSIC / 서울뮤직 (June 18, 2019). "SEOUL MUSIC - Introduction". YouTube. YG Plus, Inc. Retrieved August 30, 2021.
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