•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
SYE Holdings, a joint venture between Yeah1 and Sony Music Entertainment, has appointed Nguyen Hai Phong as music creative director. In this role, he will oversee the company’s overall music strategy, define creative direction, and coordinate resources across its ecosystem. SYE said the creative products will be developed under a structured, long-term approach aimed at international competitiveness, rather than being entertainment-only.
Phong said Vietnamese music has achieved successes but remains fragmented, adding that the industry needs a common standard “not only in technique but also in ability to engage with the world.” He said SYE has the vision and platforms to build that in a systematic way.
SYE Holdings, launched in January, operates under a “big label” structure that integrates the full music value chain within a closed ecosystem. The company’s activities span talent scouting, training, artist development, and monetization.
SYE currently manages the girl group UPRIZE and artists including Ho Dong Quan, Thai Le Minh Hieu, Swan Nguyen, and lighT (minhtin). It also leverages Sony Music’s global distribution network to expand into new markets.
The appointment of Nguyen Hai Phong is viewed as a step toward completing SYE’s structure, with the aim of ensuring consistency in quality and identity across all products.
In 2025, YeaH1 reported net revenue of 1,653 billion VND, up 61% year-on-year, and net profit after tax of 80.3 billion VND. The company attributed the results to prioritizing capital to enhance the entertainment ecosystem, with large-scale concert projects contributing significantly to revenue. However, high investment costs partly weighed on profits.
Against the backdrop of Vietnam promoting the cultural industry as a new economic pillar, SYE’s approach is described as an experimental step. The “big label” model is positioned to standardize processes, raise product quality, and broaden access to international markets through a more systematic framework for developing artists over the long term.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
