SM Entertainment is one of the big guns of the K-Pop world in South Korea, but now it is turning its attention to a more nascent music market: Saudi Arabia.
The company is partnering with the Ministry of Investment Saudi Arabia for a venture that MBW reports will ‘actively promote S-Pop (Saudi Pop) via the discovery and production of local artists’. There are also plans for a “metaverse platform to share Korean and Saudi culture” and a (physical) live-music venue.
On the metaverse front, SM Entertainment recently signed a deal with startup AmazeVR to work on virtual concerts, through a joint venture called Studio A. It’s possible that will play some part in the company’s virtual ambitions in Saudi Arabia too.
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