Cube Entertainment hopes to expand its gaming business and global distribution through an MOU with Naver Cloud Platform.
Keep on reading to know more.
Cube Entertainment Signs MOU with Naver Cloud to Expand Gaming Business & Global Distribution
On April 22, Korean media outlets have reported that Cube Entertainment and Naver Cloud signed an MOU to collaborate for global IT distribution and the gaming business.
In a statement, Cube Entertainment and Naver Cloud have expressed their intention to collaborate with each other to further advance and expand their global IT and gaming businesses through intellectual properties, production capabilities, and infrastructure of technologies in both companies.
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Cube Entertainment plans to have joint advertisements in products and support resources for production using its intellectual properties and human resources, while Naver Cloud provides various technologies and services through the Naver Cloud Platform, such as its global cloud infrastructure and artificial intelligence. Once it is done, the services - advertisement planning and support of production, will be distributed through Naver Cloud's marketplace channel.
According to an official of Cube Entertainment, through the business agreement with Naver Cloud, the agency plans to show off their own intellectual properties and content creation capabilities, using Naver Cloud to establish a foothold in the global expansion of Korean content production and distribution. In addition, they hope that with this agreement, they will play a part in the development of Korea's future gaming industry.
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Naver Cloud has been aggressively expanding its influence in the competitive gaming market by releasing services necessary for gaming development and operations on the Cloud, such as GamePod, GameChat, and Game Report.
According to the data published by the Korea Creative Content Agency, the gaming industry is showing continuous growth. In 2020, the domestic gaming market exceeded 17 trillion won ($15.2 billion) and is continuing its high growth trend. Its export scale has also increased, exceeding 7.6 trillion won ($6.8 billion). With the growth, the Korean gaming industry is positioning itself as one of the leading players when it comes to Korean content.
Meanwhile, Cube Entertainment is continuing to develop new businesses such as video content production and distribution to over-the-top platforms by securing various intellectual properties and businesses through their international subsidiaries.
In addition, with Cube Entertainment's artists such as (G)-IDLE and PENTAGON's mini-album gaining great popularity among fans, it is expected that there will be an increase in the agency's music sales in the first quarter of the year. Many are also anticipating the debut of Cube Entertainment's new girl group, LIGHTSUM, in the first half of 2020.
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Written by Robyn Joan