"Leading Growth of K-Musicals" LG Uplus Partners with Performance Platform 'MetaTheater'

[Asia Economy Reporter Eunmo Koo] LG Uplus announced on the 20th that it has completed a Series A investment of approximately 9.5 billion KRW in MetaTheater together with NHN Ticketlink, CJ CGV, financial investors (FI), and signed a business agreement for a K-Musical business partnership.

MetaTheater is the operator of Korea's first global platform specializing in performances, "MetaTheater," and holds 100% equity in Synthwave, a performance-specialized company that plans and develops musical content featuring K-pop idols, as well as 'GPS,' which owns 18 intellectual properties (IPs) including the films "Infernal Affairs," "In the Mood for Love," and "The Throne."

Through this partnership, LG Uplus plans to provide K-Musical performance content in live broadcast and video on demand (VOD) formats to customers using its IPTV service, the IdolLive mobile application, and PC web platform. IdolLive is LG Uplus's idol-specialized video platform offering broadcasts of music shows, concerts, and various performance streams along with original entertainment content.

To create opportunities to promote K-Musicals to overseas customers in the future, LG Uplus also plans to pursue cooperation with overseas telecommunications companies. LG Uplus serves as the inaugural chair company of the world's first 5G content alliance, "XR Alliance," which includes 11 operators across 7 countries. MetaTheater plans to diversify windows through performance streaming services across various LG Uplus platforms. Additionally, it aims to establish a comprehensive K-Musical revenue generation system by promoting live viewing in Asia through global theater chains such as CJ CGV, overseas distribution via online streaming of various K-Musicals, and planning, developing, and selling merchandise.

Recently, MetaTheater has overseen the planning, filming, global distribution, and overseas marketing of the musical "Jack the Ripper," starring Um Ki-joon, Lee Hong-gi, and Nam Woo-hyun, and has made investments for this purpose. From the 10th of this month, it globally live-streamed "Theater-type Visible Radio On Air," starring Jun.K and Kim Jin-hwan, and from the 18th, the Broadway musical "Altar Boys," directed by Eunhyuk and starring Baekho and Yoon San-ha. At the end of this month, it plans to present "Equal," a newly produced K-Musical adaptation of the Japanese play of the same name.