Naver-LG Uplus Business Agreement
Strengthening Media Competitiveness through Music and Content Synergy
[Asia Economy Reporter Seungjin Lee] Naver and LG Uplus are joining forces to strengthen their competitiveness in media services.
On the 18th, Naver announced that it signed a business agreement with LG Uplus to combine each company's platform capabilities and service know-how to create synergy in media business areas such as music and content.
First, through this agreement, Naver's music streaming service VIBE will be offered as an add-on service to LG Uplus's mobile subscribers. VIBE was the first domestic music platform to introduce translated lyrics for foreign songs. Additionally, it is expanding its scope as a comprehensive audio service by presenting various original content such as ▲Audio Movie ▲Audio Docent ▲Sleep Guide.
LG Uplus mobile subscribers can subscribe to the ‘VIBE Unlimited Listening’ service, which includes unlimited music streaming data, for 8,700 KRW per month. Using membership points, users can enjoy a 20% discount on VIBE for three months. The two companies also launched the ‘V Coloring VIBE Plus’ service, which combines the video-based call ringtone service V Coloring with VIBE. Users can enjoy unlimited music from VIBE along with various content provided by V Coloring for 8,800 KRW per month.
VIBE usage rights have also been newly introduced as part of media benefits offered to subscribers of 5G and LTE plans priced above 90,000 KRW. Customers who select the VIBE usage right among the media benefits included in the ‘5G Premier Regular’ or higher 5G plans or the ‘LTE Premier Plus’ plans can use the service every month without additional charges.
Through this collaboration, Naver expects to secure new users by offering VIBE in various ways combined with telecommunication services, while LG Uplus anticipates enhancing customer satisfaction by providing high-quality audio services to its mobile customers.
Furthermore, Naver and LG Uplus plan to strengthen content competitiveness by utilizing both companies’ platforms. They intend to continue diverse collaborations in the media field, such as broadcasting content produced by LG Uplus through Naver’s entertainment platforms like ‘NOW’ or jointly producing idol-related content.
Taehun Lee, Head of Naver Music Service, said, “We expect synergy created by combining Naver’s music and content competitiveness with LG Uplus’s extensive mobile subscriber base through this cooperation. Going forward, we plan not only to enhance VIBE’s audio services but also to develop various media content together with LG Uplus to provide users with even greater benefits.”
Seokyoung Lee, Head of LG Uplus Mobile Service, stated, “Through this partnership, we can provide customers with top-level music services based on Naver’s excellent technology. We plan to collaborate with Naver to develop and offer various services that customers can enjoy, not limited to music.”
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