Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) YEON SUN HAN Journalist = SK Telecom will launch a new music platform within this year in cooperation with three entertainment companies that have content power such as EXO, TWICE and Bulletproof boy scouts

4 Entertainment companies, SK Telecom, SM Entertainment, JYP Entertainment and Big Hit Entertainment held a music business agreement ceremony on the 31st at the headquarter of SK on Euljiro 2 street in Seoul and agreed to launch the music platform business in the year.
They also have signed a contract that iRiver, a subsidiary of SK Telecom will manage the B2B distribution of the three entertainment companies' music sources from February 1.

IRiver, a subsidiary of SK Telecom, supplies content from three entertainment companies to music platform operators such as Melon and Genie and music retailers such as Shinnara and HotTrack.

The market share of three entertainment companies that allied with SK Telecom is around 15% of the domestic digital music market. The market share of the CD and other music plays exceeds 50%. SK Telecom plans to expand collaboration with various partners, starting with three entertainment companies.

NSP News Agency/NSP TV YEON SUN HAN Journalist, hanys4017@nspna.com
Copyright ⓒ Korea's economic news agency NSP NEWS·NSP TV. All rights reserved-Redistribution Prohibited.