K-Pop Platform Paradigm Shift... Naver and HYBE Accelerate Integration

V Live Partial Service Suspension
Preparing New Content with Weverse
Integrated Platform Expected to Launch Next Year
Industry's Largest Scale Anticipated

A tectonic shift in the K-pop fan platform market is imminent. In the K-pop fandom market worth 8 trillion won, ‘fan platforms’ where artists and fans communicate have become the trend of trends. With Naver’s ‘V Live’ and HYBE’s ‘Weverse’ entering the final countdown to integration, the industry’s largest fan platform will be born.

The Largest Fan Platform to Launch

According to Naver on the 7th, V Live has entered the final countdown for integration by discontinuing some services. From this day, V Live will terminate Thai artist channels. Previously uploaded content will be set to private, and product sales will also be halted. Naver stated, "Based on our accumulated technology and know-how, we plan to create new services with Weverse." The integrated platform of V Live and Weverse is expected to launch next year.

V Live is a video platform that connects celebrities and fans. Idols appear and communicate with fans in real time, and hold birthday parties, fan meetings, and digital concerts through videos. Riding the wave of COVID-19, V Live became a new growth engine for Naver’s global business. V Live’s global user ratio reaches 85%. To maintain this upward trend, Naver has partnered with HYBE, the agency of the global star BTS (Bangtan Sonyeondan), to expand its reach.

Earlier this year, Naver announced it would transfer the V Live business to Weverse Company, a subsidiary of HYBE. Along with the business transfer, Naver acquired a 49% stake in Weverse Company, becoming the second-largest shareholder. In May, the Korea Fair Trade Commission approved the corporate merger. Weverse is also a popular fan platform with a monthly active user (MAU) count of 5.3 million. An industry insider explained, "Fan platforms generate revenue through content monetization and product sales, differentiating their business model from YouTube, which earns through advertising."

Unavoidable Tectonic Shift... "Weverse 700 Billion Won Revenue"

With V Live and Weverse, the two major pillars of the fan platform market, joining forces, the industry is facing significant changes. Previously, a three-way competition was expected as NCSoft entered the fan platform business with ‘Universe,’ but with the emergence of a dominant fan platform, competition has somewhat shifted. This year, NCSoft challenged the fan platform market by applying its strength in artificial intelligence (AI) technology. They created an AI morning call service featuring idols’ voices and signed artists such as Kang Daniel, Monsta X, and Brave Girls. According to NCSoft, Universe’s MAU is around 3.3 million.

The integrated platform of V Live and Weverse is expected to have tremendous influence, according to industry observers. V Live has surpassed 100 million cumulative app downloads and has an MAU of 30 million. Weverse is used by users in 233 countries worldwide. It boasts powerful influence centered on BTS. Recently, BLACKPINK also joined Weverse, and with HYBE’s acquisition of the famous American entertainment company Ithaca Holdings, it is anticipated that famous pop stars like Justin Bieber and Ariana Grande may also join Weverse.

The securities industry also predicted their massive growth. Hyungmin Park, a researcher at Cape Investment & Securities, said, "The merger with V Live will strengthen the platform’s influence," adding, "We expect Weverse’s revenue to grow from 300 billion won this year to 700 billion won in 2023."