SM Entertainment

CEO Cheol-hyuk Jang said SM aims to create "a comprehensive idol success model" in partnership with Tencent Music.

In January, NetEase Cloud Music secured a temporary deal to keep SM's catalog available beyond the January 31 contract deadline.

The app features direct messaging with artists and AI-generated responses from virtual versions of the artists.

Each company will contribute KRW 200 million to create a KRW 1 billion mutual cooperation fund for suppliers.

Tencent Music will become the second-largest shareholder in SM Entertainment

The South Korean entertainment giant attributed its revenue growth to increased music and concert turnover

The deal raises SM’s stake in DearU to 45.1%

In addition to music fans, Berriz will also cater to fans of drama, film, webtoons, musicals, and other IP

The latest funding round follows a larger KRW 15 billion investment made into SM Friends in 2023

The program will include a week-long training stint at SM Universe’s main campus in Seoul

The move comes amid a trend of K-pop companies partnering with international entertainment firms to expand the K-pop talent search model worldwide

Japan proved to be a particular strong market for SM in the latest quarter, as the company celebrates its 30th anniversary this year

Cloud Music earlier warned users that SM’s entire music catalog might be removed from the platform due to unsuccessful renewal negotiations

Concert revenues jumped more than 55% as SM's tours become increasingly international

Lee left SM Entertainment last year amid a power struggle, and is now returning to the pop music game with A2O Entertainment