JYP Entertainment Acquires Stakes From SM Entertainment, Uniting For The 1st Time This Year
Netizens and fans always yearn to see a collaboration between their favorite K-pop groups. But what if instead of their favorite K-pop groups, their idols' agencies do the partnership?
Recently, it was reported that the two out of the original 'Big 3' K-pop companies have combined their forces to push a famous K-pop idol application for the betterment of everyone.
SM Entertainment and JYP Entertainment are confirmed to pool their resources to further develop the popular and growing global mobile platform called "DearU bubble." This has caused fans to be very excited and happy.
Notably, JYP Entertainment has gotten a stake amounting to 23.3% in the company DearU,. DearU is owned by SM Studios, a subsidiary of fellow 'Big 3' agency, SM Entertainment.
This partnership points towards SM Entertainment's intentions to further improve and evolve business connections with JYP Entertainment in terms of a joint development of the mobile platform, "DearU bubble."
"DearU bubble" is a mobile platform that covers the gap of fans and K-pop idols as fans are able to directly message their favorite K-pop stars, thus making the platform well sought out in the global market.
"DearU bubble" started just last year in 2020 and an approximate 68% of the users from the application are international fans. There are around 150+ K-pop artists from a combined 13 agencies, which includes SM Entertainment and JYP Entertainment, on the mobile platform.
Moreover, SM Entertainment and JYP Entertainment recently linked together to further form a Beyond LIVE Corporation. The corporation is a specialization in the virtual concert platform, "Beyond LIVE."
Imagine seeing TWICE and EXO, ITZY and aespa, or Stray Kids and NCT (and many more artists) have a possible collaboration in an online concert in the future. Although not confirmed, JYP Entertainment and SM Entertainment's partnership may make that dream close.
Congratulations to JYP and SM for the newly found partnership!