Hallyu Content Platform
CJ E&M is penetrating overseas markets in earnest with the Mwave, a global Hallyu content platform, in an attempt to create a new growth driver beyond the saturated domestic entertainment market.
The Mwave is a global version of Mnet.com, which is the company’s digital sound source service provided in Korea. The difference between the domestic version and the Mwave is that the former mainly sells MP3s, while the latter provides an online chance for fans to meet singers and promotes related products.
“These days, our competitors are trying to sell MP3s in order to open up overseas markets, but such activities take time and money due to complex copyright issues,” the company explained, adding, “We adopted a somewhat different strategy to continue the popularity of K-pop.”
With Mwave, fans around the world can communicate with their favorite singers in real time via the online broadcasting program of Meet&Greet. FT Island, U-KISS, TinTop, and many more K-pop singers have joined the program since October last year, and the cumulative number of viewers has reached 900,000+ as of now.