On Jan 27, NAVER and Big Hit announced that they will create a new global fan community platform that integrates users, contents, and services of ŌĆ£V LIVEŌĆØ and ŌĆ£Weverse.ŌĆØ For this collaboration, NAVER will invest 411.8 billion KRW (about 370 million USD) into beNX, a subsidiary of Big Hit, to acquire a 49 percent share, while beNX will receive NAVERŌĆÖs V LIVE division. The two companies explained, ŌĆ£Big Hit, which has accumulated experience and know-how in the entertainment market for a long time, will lead the business as the largest shareholder, and NAVER will maximize the synergy by focusing on its technological capabilities that will firmly back up services and businesses.ŌĆØ The new platform has showcased a blueprint that combines NaverŌĆÖs technology in the field of content transmission/live streaming and community platform technology and Big HitŌĆÖs business capabilities. Platform integration will be carried out for about a year, and the two services will be operated separately during this period. Meanwhile, Big Hit also announced its cooperation with YG Entertainment. ┬Ā Source (1)
