Binary Korea, a subsidiary of South Korean entertainment giant HYBE, focuses on technology research and development such as Web3 and blockchain, and is launching a new fan platform for creators called THEUS.
The platform will debut on June 22 and is a joint venture between Binary Korea and Digital Entertainment Korea sandbox network.
Binary will be responsible for developing the app, while Sandbox will handle creator-related operational management, including onboarding.
Each creator will have his or her own “space” on THEUS.
In these spaces, creators can upload content and interact directly with fans through comments, live broadcasts, and interactive features.
The new THEUS app sounds similar to HYBE’s existing app Weavers A superfan platform for artists and their fans.
In addition to aggregating artist-related content such as music videos, trailers, movies and live broadcasts, Weverse also operates a merchandise platform called Weverse Shop, a music player called Weverse Albums, and a K-pop app called Weverse Music-centric music publishing magazine.
Weverse has been popular with K-pop fans for years and is cited by HYBE as key to its success during the pandemic.
However, recently, since there is no base station (While members continue their compulsory military service), Weverse sees 18.3% Revenue in the first quarter of 2024 will decrease to 143.94 billion won ($104.8 million).
The platform’s monthly active users also dropped to 9.2 million at end of first quarter relatively 10.1 million Monthly active users at the end of the fourth quarter (the three months to the end of December).
However, as BTS members begin returning from the military, the app may make a major comeback in the coming months.
According to local media reports, the app crashed yesterday (June 12) when BTS member Jin held his first live broadcast event since being discharged from the army earlier this week.
Weverse is also hosting more content from artists signed to labels other than HYBE to attract more users. According to Weavers, 90% Of the 120 artists currently on its platform, 1 has yet to sign with HYBE.
boss weaver Cui Jun Weverse has “extensive expansion plans,” Weverse told MBW in an exclusive interview in March [its] Artist roster including established superstars and up-and-coming talents across regions and genres.
Weverse and Universal Music Group reached an experimental agreement in 2020, and many UMG artists are active on the Weverse platform. include things like Gracie Abrams (Interscope), Conan Gray (Republic), Jeremy Zucker (Republic) and Alexander 23 (Interscope).
In March, HYBE and universal music group (UMG), UMG will invest in Weverse. UMG has made a minority investment in Weverse as part of the new alliance, sources told MBW.
On Wednesday (June 12), superstar artist representatives Ariana grande The singer will be joining Weverse, confirmed to MBW.
(A recent MBW Reacts article asked Weverse if it could provide a template for Universal to attract “superfans” in 2024.
With news of the new THEUS platform out, it will be interesting to see if HYBE can replicate the Weverse template in other areas adjacent to the msuic industry.
“THEUS will continue to welcome more creators and launch new features based on their feedback. We look forward to THEUS growing into a thriving playground for creators and their fans.
Sheng Min goldbinary korea
The new THEUS platform has been in beta testing phase since March, attracting more than 20,000 List of users and Korean creators, e.g. Dotty, sister Yell, Ddo_Ddo couple, Anunu, and Ange Zizin.
With the official launch, 10 additional creators, including CheezeFilm, only takes 1 minute, and Xin Sha Zangare expected to join, and the total list of creators will be expanded to 120 people.
“THEUS will continue to welcome more creators and launch new features based on their feedback. We look forward to THEUS growing into a thriving playground for creators and their fans. Sheng Min goldCEO of Binary Korea.
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