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CEO reveals SM will expand 'beyond imaginable' culture universe
- October 13, 2021 | Other
CEO reveals SM will expand 'beyond imaginable' culture universe
Updated : 2021-10-08 10:04
By Lee Gyu-lee
Lee Sung-su, co-CEO of SM Entertainment, has hinted at the company's forthcoming project to expand on the "SM Culture Universe" (SMCU), focusing on developing its intellectual property content.
"SM will be opening up a beyond imaginable SMCU with various killer content and expanding IP," the CEO said, Thursday, during an online keynote speech he gave for this year's STARTUP:CON organized by the Ministry of Culture, Sports and Tourism, and Korea Creative Content Agency.
SMCU, which kicked off with the debut of its rookie group, aespa, in October last year, refers to a fictional world that brings the K-pop powerhouse's artists under one umbrella.
"We will be developing IPs that align best with the global trend: post-corona and metaverse ― a term referring to a virtual space in a digital environment," he said. "Each of our individual IPs, including music, music videos, and performances, will all be connected and contributed to building up the SMCU metaverse."
Noting the growing popularity of Korean content around the world, which heightened more recently with Netflix's "Squid Game" sensation, Lee said SM is seeking to make Seoul, the home of K-pop and K-culture, a landmark of the SMCU.
"To keep pace with evolving platforms and rapidly changing trends, we are focused on building our own channel for audiences to easily access SM content across various platforms," he said. "The channel can mean YouTube or Instagram, in a small scope, but in the bigger picture, it's our branding strategy to build the channel that penetrates through all platforms."
Lee added that SM is seeking to join hands with businesses from various fields to work towards its goal.
"The boundaries between the fields of IT and media are no longer distinctive," he said. "As an entertainment company, we are open to discussing ways to work with different startups, from investment to joint projects."
Lee Sung-su, co-CEO of SM Entertainment, has hinted at the company's forthcoming project to expand on the "SM Culture Universe" (SMCU), focusing on developing its intellectual property content.
"SM will be opening up a beyond imaginable SMCU with various killer content and expanding IP," the CEO said, Thursday, during an online keynote speech he gave for this year's STARTUP:CON organized by the Ministry of Culture, Sports and Tourism, and Korea Creative Content Agency.
SMCU, which kicked off with the debut of its rookie group, aespa, in October last year, refers to a fictional world that brings the K-pop powerhouse's artists under one umbrella.
"We will be developing IPs that align best with the global trend: post-corona and metaverse ― a term referring to a virtual space in a digital environment," he said. "Each of our individual IPs, including music, music videos, and performances, will all be connected and contributed to building up the SMCU metaverse."
Noting the growing popularity of Korean content around the world, which heightened more recently with Netflix's "Squid Game" sensation, Lee said SM is seeking to make Seoul, the home of K-pop and K-culture, a landmark of the SMCU.
"To keep pace with evolving platforms and rapidly changing trends, we are focused on building our own channel for audiences to easily access SM content across various platforms," he said. "The channel can mean YouTube or Instagram, in a small scope, but in the bigger picture, it's our branding strategy to build the channel that penetrates through all platforms."
Lee added that SM is seeking to join hands with businesses from various fields to work towards its goal.
"The boundaries between the fields of IT and media are no longer distinctive," he said. "As an entertainment company, we are open to discussing ways to work with different startups, from investment to joint projects."
Reporter : gyulee@koreatimes.co.kr
