Naver and SM to Jointly Pursue Global Entertainment Business

Live Concert Streaming Service 'Beyond LIVE' Launches

[Asia Economy Reporter Jin-gyu Lee] Naver announced on the 14th that it has signed a Memorandum of Understanding (MOU) with SM Entertainment (hereinafter SM) to promote a global joint business aimed at strengthening global entertainment competitiveness.

Through this MOU, both companies agreed to secure a differentiated partnership in the global entertainment market and to strengthen collaboration in various ways to enhance their global business competitiveness.

The two companies will combine SM's expertise in discovering and producing global artists with Naver's foundational technology to jointly expand the global market of the global membership community platform 'Fanship.' Launched by Naver last year, the Fanship platform is a global community platform based on big data, where stars directly design and build memberships for their fans.

They will also expand their video content business centered on the global market. By combining SM's entertainment content production capabilities with Naver's experience and technological expertise in operating global platforms, they will introduce new video content based on digital technology and infrastructure focused on the global market.

As part of this, the live concert streaming service 'Beyond LIVE' will launch in mid-month. Beyond LIVE will go beyond simply broadcasting offline performances online and will provide digital concert content optimized for the online environment.

With the recent spread of contactless culture, Beyond LIVE is expected to lead an evolved digital concert culture where stars and fans communicate in real time through comments, digital light sticks, and various digital technologies. Beyond LIVE will be newly introduced first on V LIVE, with SM's SuperM scheduled to hold the first performance on the 26th.

Han Seong-sook, CEO of Naver, said, "We will accelerate our global entertainment market strategy based on digital technology competitiveness by partnering with SM, which works with the most influential global artists."

This content was produced with the assistance of AI translation services.