satoori 45,814 Posted August 3, 2020 Share Posted August 3, 2020 Naver invest ₩100 billion KRW in SM Entertainment, to join hands in expanding their global market On August 3, SM Entertainment released a statement announcing its join venture with Naver to expand its global market. Among the markets the company looks to expand include global fanclub service, online concerts and next-generation video content. This plan has garnered over ₩100 billion KRW (approx. $838K USD). In particular, SM plans to unify its fanclub service via Naver V Live’s global community membership platform ‘Fanship’, through which they hope to expand and strengthen it’s service towards its global fanclub. The company also plan to promote music related video content better via the launch of the world’s first online customized concert ‘Beyond Live’. Lee Sung Soo, the CEO of SM Entertainment said, “We are looking forward to the synergy between the two companies as we join hands with Naver in this time where ontact (non face-to-face) content platform are becoming competitive.” Meanwhile, the two companies have formed a strategic alliance since April to promote joint global business competitiveness. Link to comment Share on other sites More sharing options...
satoori 45,814 Posted August 3, 2020 Author Share Posted August 3, 2020 In case you missed it, last month it was reported that Naver was preparing to heavily invest in SM Entertainment. Now it has officially happened. Spoiler Link to comment Share on other sites More sharing options...
Vagus 2,607 Posted August 3, 2020 Share Posted August 3, 2020 okay, its time to debut the new girl group! lets go SM! Link to comment Share on other sites More sharing options...
juniordud 3,004 Posted August 3, 2020 Share Posted August 3, 2020 Wasn't naver a YG investor!? Link to comment Share on other sites More sharing options...
satoori 45,814 Posted August 3, 2020 Author Share Posted August 3, 2020 3 hours ago, Vagus said: okay, its time to debut the new girl group! lets go SM! Agree! 2 hours ago, juniordud said: Wasn't naver a YG investor!? yes.. Link to comment Share on other sites More sharing options...
alisha .... 11 Posted August 3, 2020 Share Posted August 3, 2020 NAVER's biggest mistake is investing in companies with Chinese shareholders. NAVER could have looked for recent groups and turned them into kpop powers. Investing in the big ones is to overshadow the growth and diversity of kpop, it is creating a monopoly in favor of China because these companies are helping the Chinese market and the profits for Korea are few thanks to the blockade. Link to comment Share on other sites More sharing options...
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