Date Division Subject
2018-01-31 Press ReleaseCopy URLFrom February, SK Telecom affiliated company, iRiver, SM, JYP, Big Hit, etc.Start distribution business-3 Participation in the distribution process together, establishment of content supply policy and development of music marketChange led-AI, block chain to introduce innovative new technologies to protect copyright, deal structure, transparency of settlementPlanSM Entertainment (CEO: Kim Young Min, hereinafter referred to as SM), JYP Entertainment (CEO Jung Wook Jee, JYP) and Big Hit Entertainment Service platforms and other music businesses.SM, JYP, Big Hit Enter and SK Telecom agreed on a music business agreement at SK Telecom headquarters in Euljiro on January 31 to cooperate closely to develop B2B music distribution business and B2C music service platform business. In addition to establishing a virtuous cycle structure of content creation and production, the agreement will also improve the business structure of the current music market, as well as making efforts to create a more efficient and industrially friendly ecosystem, applying ICT technology such as AI and block chain, It was promoted to provide differentiated new music services.To this end, SK Telecom signed an agreement with iRiva, a subsidiary of SK Telecom, to distribute music and music contents content distribution services for SM, JYP, and Big Hit from February 1st. This contract is not a way of distributing contents according to the policy of the distributor. As a right company, the three companies participate not only in the planning and production of content but also in the distribution process, Of course, it is possible to acquire information and know-how of the market and build an internalization system.Therefore, it is expected that it will help to develop enterprise and market through planning and distribution know-how, market information, and long-term interaction with the market. In addition, the company plans to actively review block chain technology, which is highly likely to be used for music copyright protection and transparency of transaction records, and will make every effort to improve and develop current content distribution and transaction structure.In the first half of this year, we will apply this method to the content distribution business of the three entrants in the first half of the year.On the other hand, SM Kim Young Min CEO, SM Hansemin CEO, JYP Jung Wook CEO, Big Hit Bushi Shim Hyuk CEO and SK Telecom CEO Jong Un Kim Unicorn Labs attended the music business agreement ceremony held at Euljiro Euljiro headquarters at SK Telecom headquarters.- Google translation.