SEOUL, April 26 (Yonhap) — K-pop powerhouse SM Entertainment announced Wednesday that it has acquired a local post-production company to bolster its metaverse and content business capabilities.
A week ago, SM said it acquired a 51% stake in Studio Clon through Studio Kwangya, an agency subsidiary that specializes in producing content for metaverse businesses, making Clon a new subsidiary.
Founded in 2011, Studio Clon provides comprehensive services for post production including video content editing and mixing. We have a track record of handling more than 2,300 titles per year.
The photo provided by SM Entertainment shows the logos of its subsidiaries Studio Kwanya and Studio Kron. (Photo not for sale) (Yonhap)
“We have acquired the studio to enhance our metaverse and content capabilities, one of five major themes announced as part of our ‘SM 3.0’ business strategy in February,” SM said in a press release. This acquisition shows how quickly we are moving forward with our 3.0 strategy.”
SM 3.0 vision revealed by agency We have established multiple production centers and labels, focusing on finding more business opportunities from our artists’ intellectual property (IP) rights.
The company said it plans to strengthen its virtual IP rights by adding Studio Clon’s technology to Studio Kwangya’s proprietary virtual human and visual special effects technology.
In addition, we plan to build a database of intellectual property rights of artists who are driving the global K-POP boom and use it to create other content.
sshim@yna.co.kr
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