TVXQ, SNSD, Red Velvet, NCT, more confirmed to join HYBE's Weverse; SM Ent. announces collaboration

In a major announcement, SM Entertainment has confirmed that they will be joining hands with HYBE's Weverse platform. This move is set to bring SM Entertainment artists closer to their global fanbase and to connect with them in a more interactive and engaging way. This exciting collaboration between two of the biggest names in the industry is a game-changer for the K-Pop community. The Weverse platform, which was created by HYBE, has become a hub for K-Pop fans to connect with their favorite artists, purchase exclusive merchandise, and access behind-the-scenes content.

SM Entertainment’s confirmation announcement

In a press release issued on April 17, SM Entertainment stated that its artists, which include popular K-pop bands such as Girls' Generation, EXO, Red Velvet, NCT, and aespa, will be joining the Weverse platform later this year.

As per the official statement released by HYBE, 12 of the 13 artists from SM Entertainment will be transitioning from Kwangya Club to the Weverse platform by September 2023. These artists will utilize the platform to engage with their fans and share various forms of media content. Additionally, Weverse Live will also be made available on the platform, enabling artists to communicate with their global fan base in real time. However, it is still unclear which artists will not be making the move to Weverse at present.

Current artists under Kwangya Club are Kangta, BoA, TVXQ, Super Junior, Girls' Generation, Shinee, Exo, Red Velvet, NCT 127, NCT Dream, WayV, and aespa along with fusion groups made by SM Entertainment.

Future of SM 3.0

According to a report, SM Entertainment has announced its plans to achieve 'SM 3.0' by adopting a co-existing strategy involving the private messenger platform, Bubble, and the fandom platform, Weverse. SM Entertainment artists will continue to use Bubble alongside Weverse. This strategy will enable the entertainment company to enhance its artists' communication with fans by opening official Weverse communities for SM artists by the conclusion of this year. This strategic shift aims to revolutionize the way SM Entertainment's artists connect and engage with their global fan base.

After discussions with competitor Kakao, HYBE made the decision to abandon its attempt to acquire SM Entertainment. HYBE stated that the two companies agreed to collaborate on issues related to their respective platforms. Furthermore, HYBE recently announced that it will divest its 15.8% stake in SM Entertainment by accepting a tender offer from Kakao. The move is significant as it reflects the rapidly changing dynamics of the Korean entertainment industry. 

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