YG Entertainment and Naver have announced their plans to launch a new global music service platform.
“By merging Naver’s technology expertise and YG’s strengths in entertainment, we plan to build a strong foundation for creating a competitive global music platform.”
— Park Sun Young, Naver’s V&Enter cell leader
Naver and YG’s affiliate company, YG Plus, are planning on rivaling Western music streaming services…
…like Spotify and Apple Music, which have a relatively small collection of Asian songs including K-Pop.
Their new music platform will include more diverse genres of music, and may also include a “meta database”…
Image Source: Telvista…which is a standardized database that describes a song’s title, artist, genre, and more.
“The labeling process will be carried out in not only Korean but other languages including English, as Naver is preparing a music platform service targeting global audiences.”
— Naver representative
Image Source: UMBCThis can help the music platform recommend other songs based on the user’s preferences in an optimized way.
Image Source: PxHereCurrently, no other details about the platform have been decided on, but anticipation is high.
Image Source: AboutIslamWith Naver having invested 100 billion KRW ($88.52 million USD) into YG Entertainment 7 months ago…
[★BREAKING] Naver invests $50 million USD into YG Entertainment
…it seems the two companies will be working more closely over the next few months.
Image Source: AbsoluteFabMeSource: The Korea Herald
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