YG Entertainment and Naver join hands to make the Korean “Spotify/iTunes”

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”…

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…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

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This can help the music platform recommend other songs based on the user’s preferences in an optimized way.

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Currently, no other details about the platform have been decided on, but anticipation is high.

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With 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.

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Source: The Korea Herald