SM Entertainment announced on Wednesday, April 26 that it has acquired local post-production company Studio Kron. The entertainment company made the acquisition through Studio Kwangya, a content production subsidiary of its metaverse business.
street Yonhap News Agency, SM Entertainment purchased a 51% stake in Studio CLON, though financial details of the transaction were not disclosed. It’s a strategic move for With this deal, Studio CLON has officially become one of the Kpop powerhouse’s newest subsidiaries.
The post-production company was founded in 2011 and since then has provided a complete line of post-production services, including video editing and mixing of various content.It is said to work on about 2,300 projects a year. increase.
SM Entertainment said, “We have acquired the studio to strengthen the metaverse and content functions, which is one of the key areas among the five major themes announced as part of the ‘SM 3.0’ business strategy in February.” Stated. press release“This acquisition shows how quickly we are moving forward with our 3.0 strategy.”
Korea JoongAng Ilbo In addition, SM Entertainment’s Studio Kwanya and Studio Kron reported that they will work together to create high-quality metaverse content related to virtual reality and virtual humans. cooperate.
Studio Kwangya was founded in July 2022 by SME and primarily works on visual effects projects, VR, and post-production. I also create metaverse related content.
Finally, the Studio CLON acquisition was part of the entertainment company SM 3.0. announced in February.