Seven K-pop companies — SM Entertainment, YG Entertainment, JYP Entertainment, Big Hit Entertainment, FNC Entertainment, Star Empire Entertainment, and Mystic Entertainment — have joined hands to establish Music & Creative Partners Asia (MCPA). The partnership was established to basically create a K-pop version of VEVO, but they’ll look to expand into becoming a broadcast platform for original content as well.
The company’s services will be somewhat of a Korean equivalent to Vevo. MCPA will distribute music videos on global digital service platforms including YouTube and serve as the head of determining and negotiating policies regarding this. It will also provide a new platform service that distributes music video contents. In addition to music videos, the company will continuously discuss ways to expand business including a broadcast platform for the production and supply of new contents. MCPA was established to create a developmental new business model and for the advancement of the global competitive edge for Korean music contents and artists. It plans on growing into a company that represents Asia.
Huh … super duper weird that all these companies that fandoms invent conspiracies between always end up joining together when it comes to their money.
Seriously though, something eerily similar happened back in 2010 when companies came together to fight off Mnet (CJ Group) and Kakao M (Kakao) with music distribution, and now we’re gonna get into it on music video distribution as well. It’s easy to forget that these agencies are relatively small potatoes compared to these conglomerates, so it seems like cutting out the middle man is the idea.