YG PLUS-NAVER jointly implements music business project
[이데일리 스타in=이정현 기자] YG Entertainment is launching an on-line music streaming business jointly with NAVER.
YG Entertainment’s subsidiary YG PLUS announced on October 18, “We’re joining forces with NAVER in order to secure competitiveness in the field of music industry. The two companies are now discussing various ways of cooperation based on NAVER’s cutting-edge technology and global service experience and YG’s global entertainment business capabilities”.
YG PLUS and NAVER will begin their joint project from the establishment of infrastructure. The two will first secure large volume of music on-line and then will begin a process of building sophisticated meta-DB of diverse genres of music including K-pop. The large volume of on-line music will first offered on NAVER Music. When the establishment of the global meta-DB is completed, the contents recommendation technology for the entertainment industry will be further upgraded.
YG PLUS has newly established a music business office in order to actively implement global music service business beginning from the joint project with NAVER. The establishment of global music service infrastructure is the first move for the joint music business between NAVER and YG PLUS, which is expected to create a business synergy effect based on the diverse collaboration between the two strategic partners.
NAVER V&EnterCell’s leader Park Sun-young said, “We will upgrade the existing music service and lay the foundation for a differentiated global music service by joining forces between NAVER’s cutting-edge technology and YG’s diverse business capabilities in the entertainment field”.
YG PLUS’ CEO YANG MIN SUK said, “We will collaborated with NAVER in a multidirectional way in order to discover diverse music business opportunities, in order to contribute to further spread of K-Pop in the global music market”.
2017. 10. 18.
