SM Leisure CEO Sung Su Lee does not give interviews typically.
So when he speaks publicly, it is value listening very intently to search out out what turns the wheels of the Ok-pop big, who has stars like EXO, Ladies’ Technology and Shine on his roster.
Lee appeared final week on the 2021 Startup:Con keynote and shared some perception into SM’s imaginative and prescient for the way forward for Ok-pop.
He additionally introduced SM’s formidable aim of creating Seoul, already the birthplace of Ok-pop and Ok-culture, a “Mecca of worldwide tradition”.
The chief, who joined SM Leisure as a part of the A&R group in 2005, argued in his speech that Ok-pop is “not solely a style of music, however a style of content material”.
On the coronary heart of SM’s content material technique is the SM Tradition Universe (SMCU), which Lee defined, “is the leisure universe of the longer term that connects the world via tradition with none boundaries between actuality and digital actuality”.
SMCU is actually a character-based universe created by comedian giants Marvel or DC . cinematic universes created by
Explaining the idea round SMCU on the firm’s ‘SM Congress 2021’ again in June, Sung Su Lee stated that it may be considered “SM’s metaverse, bringing Ok-pop followers all over the world to totally different platforms. invitations you to understand our music and tales via the medium”.
He stated in his speech final week that SMCU would “embrace not solely our unique content material, however” [content] Recreated by followers”.
This has been achieved notably via the corporate’s ‘Pink Blood Mission’, a fan engagement platform that it calls ‘Prosumers’ – SM followers who create their very own content material impressed by SM’s acts.
The origin of SMCU, Sung Su Lee informed viewers final week, is rooted in SM founder and govt producer Su-Man Lee’s prediction of “the longer term will grow to be a world of robots and celebrities in addition to avatars.”
As such, Sung Su Lee stated, SM Leisure is “making ready for the longer term”. [i.e. virtual] materials age for many years”.
The corporate’s main growth into the rising digital artist house, and the introduction of the SMCU idea, coincided with the launch of Espa final October – a ‘Metaverse lady group’ consisting of 4 human members and 4 digital counterparts.
In line with Sung Su Lee, SMCU is a “big digital world that begins with the storytelling of Espa”.
Identify “espaThere’s a mixture of “ae” (preliminary to ‘avatar’ and ‘expertise’) and ‘side’, which, says SM, represents “the assembly of the opposite self and the expertise of a brand new world”.
the group’s first single black MambaLaunched in November 2020, crossed 21 million views inside its first 24 hours. And in Might of this 12 months, SM launched Episode 1 of Espa’s big-budget cinematic comic-esque movie, also referred to as black Mamba (see under).
Sung Su Lee defined that the “fundamental key phrase” of the corporate’s universe is ‘kwangya’, which he says “has a symbolic which means because it contains each the true and digital worlds”.
“Ok-pop followers name our relocated SM headquarters Seongsu-dong and Seoul Forest space Kwangya,” he defined.
“It’s our aim for ‘Kwangya’, an infinite digital universe, to develop because the idea of house that refers to our new house and grow to be the landmark of SMCU.”
Sung Su Lee’s newest speech comes a number of weeks after it was reported that 20% of SM Leisure was up on the market, together with greater than 18% of the shares owned by founder and govt producer Lee Soo Man.
Quoting Korean information website ‘Funding Banking Insiders’ allkapop stories that it’s probably that both Kakao Leisure or CJ Leisure – the manufacturing firm behind the Korean blockbuster movie Parasite – Will swoop in for a stake within the music firm.
Once more citing sources, allkapop Additional stories that CJ Lee is Su Mann’s most well-liked choose and is presently trying just like the ‘strongest purchaser candidate’.
If CJ and SM enter the enterprise collectively, it won’t be the primary time that SM has labored with a titan from the movie world.
Sung Su Lee talked about in his speech that in 2010, SM Leisure and Canadian filmmaker James Cameron – who had a field workplace smash Avatar – Workforce as much as create 3D content material.
“Regardless of being a music-based tradition content material firm for over 20 years, SM has at all times understood the significance of incorporating the newest applied sciences of the time equivalent to IT and AI into our content material and as such for over 20 years ( applied sciences).”
Sung Su Lee, SM Leisure
“It was a very long time in the past, however when producer James Cameron’s” Avatar captivated the world with its 3D content material, SM had already accomplished the related R&D, which allowed us to determine a consortium with Samsung Electronics and [Cameron] To right away present the 3D music movies of Ladies’ Technology,” Sung Su Lee defined final week.
He added: “Regardless of being a music-based tradition content material firm for over 20 years, SM has at all times understood the significance of incorporating the newest applied sciences of the time equivalent to IT and AI into our content material and implementing such Was once. [technologies] For greater than 20 years.
“Now, in an period the place IT, AI and content material transcend boundaries and corporations and totally different supplies, we, as a content material firm, work with revolutionary, technology-based start-up corporations and Wish to assist them.”
Elsewhere in his speech, Lee acknowledged that SMCU was created “via a long time of gathered killer content material and IP growth” and, that it’s “the Metaverse-style futuristic content material that SM strives for”.
For example of IP growth, Lee initiated the corporate’s ‘Remastering Mission’, which aimed to spice up the standard of SM’s unique music movies in addition to re-mastering the corporate’s unique tracks, Which they are saying is “SM’s valuable asset and historical past of Ok-pop”.
“Wanting on the construction of Ok-POP from the attitude of a worldwide development referred to as the Metaverse within the post-Covid period, Ok-POP will be seen as a brand new type of cultural IP content material that has by no means been seen earlier than in current kinds of music. Has been noticed. ,
sung su lee
Continued Lee: “Wanting on the construction of Ok-Pop from the attitude of a worldwide development referred to as the Metaverse within the post-Covid period, Ok-Pop will be seen as a brand new type of cultural IP content material that blends in with current genres as by no means earlier than. was not seen. of music.
“It’s SMCU that’s based mostly on the worldview we’re constructing, and we are going to take it to the subsequent stage by creating a large universe of Metaverse-style IP content material that mixes totally different and unbiased IPs from artists, music, music movies, performances, and many others. . to one another throughout the SMCU.”worldwide music enterprise