Gushcloud raises US$3M from Korean music label YG to expand its digital entertainment business
Gushcloud will build out social media talent and content management firms in markets Indonesia, Philippines and Vietnam
YG Investment, the investment arm of the South Korean music label and entertainment agency YG group, has invested US$3 million in influencer marketing and entertainment firm Gushcloud International, to expand its newly-launched entertainment group Gushcloud Entertainment.
With this strategic investment, Gushcloud Entertainment aims to focus and build out the digital entertainment group within Southeast Asia, eyeing larger markets like Indonesia, the Philippines and Vietnam. In these markets, it will be investing into vertical-based social media talent and content management companies focused on beauty, parenting, sports, music and gaming.
Gushcloud Entertainment is also building a new company creating beauty content and cosmetic products with top global beauty content creators. It will also launch more intellectual property (IP) trade and consumer events in addition to Influence Asia, across Southeast Asia.
“Southeast Asia has a population of more than 640 million people, with a fast-growing mobile and digital consumer penetration. Based on our data, Southeast Asia is a huge consumer of Korean pop culture. With this new investment into Gushcloud, we want to leverage upon the company’s physical presence in the nine offices they have, to export more of YG’s entertainment assets and acts into Southeast Asia,” said Charlie Cho, Head of YG Plus SEA (Singapore) Branch.
“Brands can now connect directly with YG in Southeast Asia should they want to engage with our artistes. YG hopes to create more digital cross collaborations and partnerships with influencers, social media talents, entertainment companies and agencies, between Korea and Southeast Asia,” added Cho.
Gushcloud Entertainment was formed in early 2017. Headed by CEO Althea Lim,Gushcloud Entertainment manages top social media influencers and talents globally, and focuses on creating influencer-, celebrity- and talent-led intellectual property (IP) or content. The business units under the group include talent management and representation; beauty content and commerce; exhibitions, tours and festivals; music; digital video and content pieces.
YG will set up its Southeast Asian Headquarters (HQ) within the same premises of Gushcloud Headquarter office based in Singapore.
Gushcloud International, founded by Vincent Ha and Althea Lim, is a global influencer entertainment and marketing company that connects audiences and brands to influencers and creators through representation and management, brand strategy and activations, marketing services, media productions sales and distribution and signature events.