On July 19, representatives of SM Entertainment, JYP Entertainment, YG Entertainment, BigHit Entertainment, FNC Entertainment, Mystic Entertainment and Star Empire Entertainment held a signing ceremony for the establishment of Music & Creative Partners Asia Co., Ltd. (MCPA).
The company's services will be something like a Korean equivalent to Vevo. MCPA will distribute music videos on global digital service platforms, including YouTube, and serve as the head of policy determination and negotiation in this regard. It will also provide a new platform service that distributes music video content.
In addition to the music videos, the company will continually discuss ways to expand business, including a transmission platform for the production and supply of new content.
MCPA was established to create a new business model of development and to advance the global competitive advantage for the contents and artists of Korean music. Plans to grow in a company that represents Asia.
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