SM Entertainment Establishes Joint Company with Avex Group and Universal Music Japan
SM Entertainment has established a joint company in order to strengthen its digital music business within Japan.
SM’s Lee Soo Man met with Avex Group Holdings’ CBO Shinji Hayashi and Universal Music Japan’s CEO Naoshi Fujikura on April 30 to hold a ceremony for establishment of joint company ‘everysing Japan.’
SM, Avex Vanguard (AVI) and Universal Music Japan will be establishing a legal joint company ‘everysing Japan’ in May, in order to provide a more innovative and differentiated service in digital music based on the strengths of the three companies.
SM is currently working on launching karaoke application ‘everysing’ in Japan in September, as one of the first projects of ‘everysing Japan.’
The ‘everysing’ application not only allows people to sing and record but also to participate in auditions and to share the recorded files on SNS accounts. It is currently ranked number one as the best karaoke application on Google Play in Korea.
On the establishment of ‘everysing Japan,’ CEO Naoshi Fujikura stated, “By expanding ‘everysing’ in Japan, we hope to provide a new form of entertainment by using the company’s ample musical repertoire to suit people’s lifestyle. We will be working hard with SM and AVI in order to provide service that can satisfy the expectation of many people.”
Avex Group Holdings’ CBO Shinji Hayashi also stated, “With the establishment of ‘everysing Japan,’ the three companies will be able to construct a new business scheme to face the current social trend. Please show your support for ‘everysing Japan,’ which will not only be targeting Japan, but all of Asia and the world.”
SM’s Lee Soo Man said, “Digital music application ‘everysing’ will not only be providing content in the Japanese market, but it will be an example of combining contents with a platform to produce a new creative business model. We will be collaborating together so that ‘everysing’ can grow to succeeed as a new cultural platform and create a new digital life style in Asia.”
Lee Soo Man also mentioned the recent tragedy of the sunken Sewol ferry after discussing business matters with Naoshi Fujijura and Shinji Hayashi, who then decided to make a donation in the amount of 10 million yen.
SM’s Lee Soo Man will be handing over Universal Music Japan and Avex Group Holdings’ donations to the Korean Red Cross to be used to help out the victims and families of sunken ferry.
Meanwhile, SM, Avex Vanguard and Universal Music Japan will continue to work together for new digital businesses aside from the launching of karaoke application ‘everysing′ in Japan.
Photo credit: SM Entertainment