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

Virtual artists are taking off in popularity, particularly in the South Korean market

However, the company's bottom line was dragged down by weak performances at subsidiary businesses

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Kakao's music streaming service Melon will be monitored for signs of anti-competitive practices