South Korea's SM Entertainment has joined forces with Tencent Music Entertainment Group (TME), China's largest music platform, to expand its global market presence. The two companies officially signed a Memorandum of Understanding (MOU) on May 29, marking their commitment to establishing a comprehensive partnership.
One of the key highlights of this collaboration is the plan to debut a China-focused idol group within the next two to three years. SM Entertainment will oversee the audition, training, and production aspects, while TME will take charge of local promotions, album releases, and digital distribution. The joint effort aims to nurture an idol group that can represent Asia on the global stage.
In the realm of intellectual property (IP), the partnership will extend to various business ventures in the Chinese market, including collectible physical and digital photo cards, character-based merchandise, pop-up stores, and multimedia content.
On the performance front, SM Entertainment has announced plans to host the "SMTOWN LIVE" concert in Hong Kong in 2026, alongside expanding SM artists' global tours. Additionally, the companies plan to leverage SM's Beyond LIVE technology to provide online live-streaming services, catering to a broader online fanbase.
While specific dates and venues for the HK concert have yet to be announced, fans have already begun preparations, such as forming ticket-purchasing groups online. Concerns over ticket scalping have also surfaced, with fans urging the implementation of a real-name ticketing system, especially given previous issues in similar large-scale K-pop events in HK, such as the MAMA Awards.
This partnership marks a significant shift from the traditional music distribution model, broadening the scope to include co-production of idol groups targeting the Asian market, IP business expansion, and local performances. Following TME's recent acquisition of SM shares from HYBE, making it a major stakeholder, the collaboration has officially entered a substantive phase.
Related News:
HK 2025 second half concert lineup: Star-studded extravaganzas are coming!
Scalpers charge up to HK$5,000 for pre-orders of BLACKPINK HK concert tickets
Comment