Yeah1 (YEG) Appoints V-pop Star Nguyen Hai Phong as Creative Director at SYE Holdings

Overview

Yeah1 Group (YEG) has appointed renowned V-pop musician Nguyen Hai Phong as Creative Music Director of SYE Holdings, its joint venture with Sony Music Entertainment. The appointment signals YEG’s deepening commitment to original music content as part of its broader entertainment ecosystem recovery.

Key Facts

• Nguyen Hai Phong is a prominent V-pop figure known for hits like “Dòng thời gian”, “Ba kể con nghe”, and “Góc tối”.
• SYE Holdings was launched in late January after Sony Music invested in YEG’s ecosystem.
• The joint venture also debuted 7-member boy band UPRIZE under a K-pop training model and four independent artists.
• Sony Music Entertainment is one of the “Big 3” global music companies, operating in over 100 countries.
• YEG’s 2025 revenue target is VND 1,650 billion (flat vs 2024), with net profit expected at VND 105 billion (+36%).
• In 2024, YEG reported revenue of VND 1,653 billion (+61% YoY) but net profit fell 35% to VND 80 billion due to lower advertising margins and higher investment costs.
• YEG stock closed at VND 10,250 on April 20, down 96% from its post-listing peak.

What Happened

SYE Holdings, the joint venture between Yeah1 Group (YEG) and Sony Music Entertainment, announced the appointment of Nguyen Hai Phong as Creative Music Director. The musician is a well-known figure in Vietnamese pop music, having written and produced numerous hits over the past decade.

The appointment was disclosed in a company announcement. SYE Holdings was officially launched in late January 2025 after Sony Music injected capital into YEG’s ecosystem. Alongside the leadership change, the joint venture introduced its first artist roster, including the 7-member boy band UPRIZE and four independent artists: Ho Dong Quan, Thai Le Minh Hieu, SWAN, and lighT.

Market Context

YEG shares closed at VND 10,250 on April 20, down over 96% from their all-time high after listing on HOSE in June 2018. The stock has been under pressure since YEG’s YouTube partnership ended in 2019, leading to accumulated losses of nearly VND 563 billion over 2019-2020. The company has since pivoted to entertainment content production, with successful shows like “Chị đẹp đạp gió rẽ sóng” and “Anh trai vượt ngàn chông gai”.

Strategic Significance

The appointment of a high-profile creative figure like Nguyen Hai Phong underscores YEG’s strategy to build proprietary music intellectual property through its Sony Music joint venture. This move could differentiate YEG from other Vietnamese media companies by creating a pipeline of original artists and content, potentially improving margins over the long term as the company reduces reliance on third-party advertising revenue.

What to Watch

• Q1 2025 earnings release for YEG, expected in late April, to assess revenue and profit trajectory.
• Initial commercial performance of UPRIZE and other SYE Holdings artists, including streaming numbers and concert ticket sales.
• Any additional capital commitments from Sony Music or other strategic partners to SYE Holdings.
• YEG’s ability to maintain its entertainment show momentum, particularly new seasons of “Anh trai vượt ngàn chông gai” and “Gia đình Haha”.
• Foreign ownership trends in YEG, as the stock remains well below its historical highs.