404SK Telecom to enter the music business in the year - NSP NEWS AGENCY(English)
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SK Telecom to enter the music business in the year

NSP NEWS AGENCY, By YEON SUN HAN Journal, 2018-02-04 22:35 END7

(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.

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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
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