They are planning global idol groups through the joint venture Wonsid with CJ ENM and JYP.
They are becoming a distribution hub for K-Pop music with partnerships with SM, YG, and JYP.
Tencent Music, the largest music platform in China, is rapidly gaining influence in the K-Pop market. As the second-largest shareholder of SM Entertainment, they have established a joint venture called Wonsid in collaboration with CJ ENM and JYP Entertainment, focusing on planning global idol groups through partnerships with major Korean entertainment companies.
The name Wonsid combines CJ ENM’s slogan and JYP's vision, aiming for the international growth of the next generation of K-Pop artists. Currently, Wonsid manages the activities and promotion of ‘Modyssey’, a multinational boy group formed through a global audition program led by CJ ENM, targeting international fanbases including China.
Tencent Music has also strengthened its connections with YG Entertainment through equity investments, thereby enhancing its ties to the K-Pop industry. Last year, they entered into a formal music distribution agreement with HYBE, allowing artists like BTS and Seventeen to be available on major Chinese streaming platforms. This positions Tencent Music as a distribution hub for K-Pop artists and establishes a solid partnership, maximizing their impact in music marketing and distribution.
The rapid rise of Tencent Music in the K-Pop industry can be attributed to its use of its powerful music platforms within China. Platforms like QQ Music, KuGou, and Kuwo boast over 800 million monthly active users and more than 120 million paying subscribers, making it a compelling proposition for K-Pop agencies and creating opportunities for diverse collaborations and partnerships.
Another key element is their strategic content production approach. Tencent Music maintains a partnership with K-Pop artists through minority equity investments and business alliances, offering music and concert services while fostering mutually beneficial partnerships. This has emerged as a new model of cooperation within the music industry.
Localized efforts are also noteworthy. SM Entertainment is working to launch local idol groups in conjunction with Tencent Music, expanding services aimed at enhancing fan engagement in the Chinese market. This positions K-Pop for an even stronger foothold in the global arena.
This article is KOSTAR’s reinterpretation of a story originally reported by TVDaily.
Photo: TVDaily
