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SYE Holdings, the joint venture between Yeah1 Group and Sony Music Entertainment, has appointed musician Nguyen Hai Phong as Chief Music Creative Officer. The company said the appointment is intended to strengthen SYE’s next-phase music strategy and long-term development direction.
In his new position, Nguyen Hai Phong will be responsible for shaping SYE’s overall music strategy, coordinating resources across the ecosystem, and contributing to the company’s long-term direction.
Nguyen Hai Phong is a musician with nearly 25 years in the arts, known for hits including “Dòng thời gian,” “Ba kể con nghe,” “Bay,” “Đường cong,” and “Taxi.” He has also worked as a producer, music director, and judge on several television programs. The company noted that he has trained multiple young artists, including Bùi Công Nam, DTAP, and Phan Mạnh Quỳnh.
Yeah1’s leadership said a common thread in Nguyen Hai Phong’s creations is the combination of a modern spirit with Vietnamese identity, which it expects will continue to guide SYE.
Speaking about the role, Nguyen Hai Phong said his goal is to “solve a problem worth solving.” He pointed out that while Vietnamese music has achieved success, it remains fragmented. He said the market needs a common standard to help products reach international quality while building a distinctive, sustainable identity.
Earlier this year, Yeah1 launched SYE Holdings after Sony Music invested in its ecosystem. The launch also included a seven-member boy band, UPRIZE, trained under a K-pop-style model, as well as four independent artists: Ho Dong Quan, Thai Le Minh Hieu, SWAN, and lighT.
Sony Music Entertainment is described as one of the “Big 3” groups dominating the global music industry, with operations in more than 100 countries. Yeah1 is among the few listed media companies on HoSE.
Last year, Yeah1 Group (YEG) reported revenue of nearly VND 1,653 billion, up more than 61% from 2024. However, after-tax profit fell nearly 35% to just over VND 80 billion. Management attributed the decline to reduced profit margins from advertising, while prioritizing funding to complete the entertainment ecosystem, including a pay-content viewing app.
For this year, Yeah1 targets consolidated revenue of VND 1,650 billion, down 0.2% year-on-year, and after-tax profit of VND 105 billion, up 36%. Management said the expected momentum is supported by new seasons of “Anh trai vượt ngàn chông gai” and “Gia đình Haha,” along with management of the boy band and independent artists.
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