K-pop giant SM Entertainment forms JV with AmazeVR to produce immersive VR concerts for the metaverse

aespa, SM's 'Metaverse Girl Group’ that features four human members and four virtual counterparts

Los Angeles-based virtual reality concert platform AmazeVR has signed a joint venture deal with K-pop giant SM Entertainment and Studio KWANGYA, SM Entertainment’s new metaverse content production house.

Together, the two will launch a JV called Studio A, which will be based in Seoul, South Korea.

The news follows AmazeVR’s $15 million round of funding in January to support what it called its “vision for VR concerts”.

SM Entertainment is one of South Korea’s largest entertainment companies and played a key role in the global emergence of K-pop since the firm was established in 1995.

AmazeVR says that it will bring its VR concert creation tools to the Studio A JV, include a custom 3D VR camera and stage setup, Unreal Engine-based VR VFX Tools, and AI modules to automate manual tasks.

Concerts will be distributed exclusively through AmazeVR’s VR music metaverse service and SM’s VR metaverse service.

Recently, SM’s new girl group Aespa has made their debut both in real life and in the metaverse.

SM struck a deal with Warner Records in early June 2022 and played their first US live show at Coachella 2022.

Other artists on SM’s roster include NCT, Super Junior, Girls’ Generation, Shinee, Exo, Red Velvet, SuperM, TVXQ, and BoA.

 

Elsewhere, AmazeVR claims that it “captivated fans this summer”, during a US-based VR Concert tour with Megan Thee Stallion.

The VR concert performances at participating movie theaters featured a multi-song set using VR headsets.

“SM is excited to expand our market to include metaverse content for artists using AmazeVR’s industry-leading VR technologies and proprietary concert creation tools.”

Sung-su Lee, SM Entertainment

Sung-su Lee, CEO of SM Entertainment, added: “SM is excited to expand our market to include metaverse content for artists using AmazeVR’s industry-leading VR technologies and proprietary concert creation tools.

“We’ve had a great interest in this market and see the opportunity for our artists in the metaverse. AmazeVR shares the same vision for this next generation of music.”

“Our JV partnership with SM Entertainment will deliver mesmerizing, fully immersive VR concerts featuring mega K-Pop stars.”

Steve Lee, AmazeVR 

AmazeVR Co-CEO Steve Lee, said: “Our JV partnership with SM Entertainment will deliver mesmerizing, fully immersive VR concerts featuring mega K-Pop stars.

“Never before have fans been able to experience their favorite artists in such an intimate and personal way. Get ready to see captivating choreography as the music comes to life, with the fan center stage.”

“We’re thrilled at the prospect of working with SM to collaborate with K-pop and other Asian artists, as well as other Asian music companies, through our new partnership.”

Ernest Lee, AmazeVR

AmazeVR Co-CEO Ernest Lee, added: “We’re thrilled at the prospect of working with SM to collaborate with K-pop and other Asian artists, as well as other Asian music companies, through our new partnership.

“They’ve influenced K-pop globally, united the music industry across the continent, and brought unique and energetic performances to worldwide audiences.

“We’re going to see some phenomenal VR concerts.”

 Music Business Worldwide

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