FNC Entertainment partners with YG Plus to expand global music distribution

FNC Entertainment, home to rock bands FT Island and CNBlue, has formed a strategic investment partnership with music distributor YG Plus to expand the global reach of its artists' music.

YG Plus currently handles music distribution in Korea for major music producers, namely YG Entertainment and HYBE, and leads the industry in physical album distribution with a market share of 44.5 percent.

Under the latest agreement, YG Plus took over distribution of FNC Entertainment's new and existing music releases, both physical and digital, on Oct. 1, according to YG Plus on Thursday. The deal covers music by FNC Entertainment artists: FT Island, CNBlue, N.Flying, P1Harmony, Ampers&One, AxMxP and SF9.

The partnership will extend beyond physical and digital music distribution. The two companies plan to collaborate on artist merchandise production and sales, as well as concerts and other live performances in Korea and overseas.

YG Plus also aims to strengthen its position as the market leader in digital music distribution by taking over FNC's entire catalog, the distributor said.

"We are pleased to form a strategic partnership with FNC Entertainment, which has a strong intellectual property presence in the global K-pop market," YG Plus said.

"Starting with the official launch of distribution on Oct. 1, we will further demonstrate our industry-leading capabilities in physical and digital music distribution and enhance both companies' brand value and reputation through expanded collaboration in merchandise, concerts and other areas."

BY KIM JI-YE [[email protected]]