Naver, LG U+ ink deal for music and content business partnership

Naver and LG Uplus signed an agreement to collaborate on music and content business. The companies confirmed their partnership deal on Wednesday, Jan. 18, and said this would help them strengthen media services competitiveness.

For this cooperation, Naver and LG U+ will work on various businesses related to the content, including music. To kickstart their joint venture, the latter launched mobile subscription plans that also offer the internet giant’s VIBE music streaming service. In addition, LG Uplus is giving discounts to its mobile subscribers if they will register for VIBE subscriptions.

Korea Joongang Daily reported that for the future business team-up, Naver and LG Uplus are also thinking of adding LG U+’s original content to the former’s video streaming service. They may also embark on the joint production of K-pop-related content.

“We are excited about the synergy between Naver’s capabilities in music and content businesses and LG U+’s wide-ranging mobile subscriber base,” Naver’s unit head of music service, Lee Tae Hoon, said in a statement.

LG Uplus’ head of mobile service unit, Lee Seok Young, added, “in collaboration with Naver, we plan to come up with various services involving music businesses and more in the future.”

Meanwhile, it was mentioned in The Korea Times that users of LG Uplus will get to enjoy a 20% discount for three months using membership mileage. For Vibe subscribers who are paying more than KRW90,000 monthly mobile subscription fees, they can avail of the service for free.

LG Uplus and Naver’s agreement to integrate their services will create a synergy that is expected to help boost the number of their customers as well as customer satisfaction.

"LG Uplus customers will be able to enjoy high-quality music streaming services, while Naver will draw and lock in new customers in the long term," LG Uplus stated.