Stages for Small and Medium Agencies Are Dwindling, Collaboration Remains Exclusive
Mnet Plus and Weverse Aim for the 'Global Super App'
Experts believe that the future of K-pop will be determined not by who creates the music, but by who designs the platforms and intellectual property. Major agencies such as HYBE and JYP are establishing sub-labels in the United States and collaborating with local artists in this context. This is not merely diversification of business, but a strategy to secure leadership over platforms.
An executive at a major agency, referred to as Mr. A, explained, "The success of 'APT' means that K-pop artists have been recognized not just as featured guests but as equal creators," adding, "Because it brings together the fandoms of both artists, it can increase negotiating power in future business endeavors."
However, the reality is challenging. Collaborations take a long time, and copyright and song ownership issues are highly complicated. Opportunities are also given only to well-known artists. Ji Hyunseung, head of the Music and Fashion Industry Team at the Korea Creative Content Agency, pointed out, "It is difficult for small and medium-sized agencies to attempt this," and added, "In fact, there are fewer and fewer opportunities to showcase new songs."
Fostering Korean-style platforms could be an alternative. Mnet Plus, which surpassed 40 million subscribers and 20 million monthly active users within three years of its launch, is a prime example. Starting next year, it will expand into North America, Oceania, and Europe, and increase investment in original content by four times. If this blueprint is realized, artists from small and medium-sized agencies could have more opportunities.
Kim Jiwon, Head of Business at Mnet Plus, expressed confidence, saying, "If Mnet Plus establishes itself as a global K-pop content platform, it can create a structure where K-platforms benefit more from the success of K-pop." Kim added, "The sustainability of K-pop depends on having content that can satisfy a broad fan base," and said, "We plan to strengthen 'fanteractive' (fan + interactive) content that can attract even light fans to the platform."
A representative from a small and medium-sized agency, referred to as Mr. B, stated, "Attempts to grow platforms like Melon into global platforms have failed, but fandom-centered platforms have potential," adding, "Super apps that integrate streaming, merchandise, and concert ticketing, like Mnet Plus or Weverse, must establish themselves globally."
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Ultimately, the driving force for change is not 'de-platforming' but 'platform diversification.' Mr. B said, "Whereas we used to rely solely on YouTube, we are now distributing content across TikTok, Instagram, and other platforms," and added, "The goal is to optimize content for each platform's algorithm and fanbase characteristics, while also creating a structure that is not dependent on any single platform."
Team leader Ji stated, "The most important thing for artists is the stage," and revealed, "Next year, we will try to create more opportunities for small and medium-sized agency artists to be introduced both domestically and internationally."
Moving beyond a platform-centered revenue structure, building an ecosystem that Korea can directly control-becoming the entity that owns and governs this world-is the true completion of industrialization.
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