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Big Hit Entertainment And Naver To Combine Weverse And V LIVE Into New Platform

Big Hit Entertainment and Naver are becoming a member of fingers!

On the afternoon of January 27, Naver held a board assembly and determined to speculate 410 billion gained (roughly $371 million) into Big Hit Entertainment’s subsidiary beNX, which operates the fan neighborhood platform Weverse. Because of the funding, Naver beneficial properties a 49 p.c stake in beNX, and Naver’s V LIVE enterprise will probably be transferred to beNX. It was additionally determined that beNX could be renamed to WEVERSE COMPANY Inc.

Naver revealed today that they might be creating a brand new international fan neighborhood platform by collaborating with Big Hit Entertainment and mixing the customers, content material, and companies of V LIVE and Weverse, the platforms owned by every firm.

Naver goals to achieve a higher aggressive edge within the fandom trade by teaming up with Big Hit Entertainment. The technique is for Big Hit Entertainment to guide the enterprise with their expertise within the trade whereas Naver supplies the expertise and expertise essential to strengthen the service.

Naver is a frontrunner in content material transmission and dwell streaming expertise in addition to the neighborhood platform area. Naver expects to mix their technological prowess with Big Hit Entertainment’s enterprise functionality.

The combination of the 2 platforms is anticipated to take a few 12 months. Kim Joo Kwan is at the moment the pinnacle of Naver’s Group& CIC, the group answerable for V LIVE, Naver Cafe, Band, and different neighborhood platforms. He’ll turn out to be the CTO (chief expertise officer) of beNX and lead the combination course of. After that, he’ll handle the platform’s expertise. In the course of the interval of integration, every service (V LIVE and Weverse) will probably be operated as earlier than.

The companies defined that along with the artists who’re at the moment working with every platform, they’ll add different international artists with a view to create the perfect fan-artist neighborhood platform via which followers can get pleasure from artists’ content material and talk with them.

Naver CEO Han Seong Sook expressed, “To be able to broaden our affect within the international market, there’s a want transcend competitors with home platforms and to intently collaborate with a aggressive platform that we will create synergy with. The addition of Okay-content to our globally aggressive Okay-technology will make us a matchless participant within the international leisure market.”

She added, “The fandom tradition that had been deemed as one in every of ‘idol fanatics’ is now spreading into varied fields, creating new cultural and financial worth, and evolving. We discovered potential for progress within the international market via V LIVE and Weverse, which consists of over 85 p.c of worldwide followers.” She additionally mentioned, “We’ll work to make the fandom tradition that stemmed from Big Hit and Okay-pop transcend Asia and North America and turn out to be the mainstream leisure tradition in Europe, South America, and all all over the world.”

Big Hit Entertainment’s HQ CEO Park Ji Gained shared, “Since its launch in 2019, Weverse has grown exponentially. By way of this, we have now confirmed the necessity and affect of a fan neighborhood platform within the international music trade. By way of the final collaboration with Naver, we have now excessive expectations for the synergy between Weverse and V LIVE, and we’ll rise to an unmatched place within the international market via a further-evolved fan neighborhood platform.”

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About the author

Kim Diaz

Kim recently joined the team, and she writes for the Headline column of the website. She has done major in English, and a having a diploma in Journalism.

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