HYBE’s superfan platform Weverse has launched a brand new in-app music streaming service known as ‘Listening Social gathering’.
The brand new service lets artists and followers host “on-line events” inside the app the place they’ll hearken to curated playlists collectively, and chat in actual time.
The brand new service integrates Spotify as its main streaming associate.
Weverse President Joon Choi has confirmed in an interview with MBW, to observe later, that customers will want each a Premium Spotify subscription and a Weverse account to entry the Listening Social gathering service.
Whereas all Weverse customers can be part of these digital listening occasions, internet hosting capabilities are solely out there to subscribers of Weverse’s Digital Membership program, a month-to-month subscription service launched final December.
Weverse‘s Digital Membership subscription affords further options – for a further price – like Listening Social gathering internet hosting in addition to real-time translation in 13 languages, plus offline saving choices, AI-powered video high quality enhancement, and different unique advantages.
Based on HYBE’s CFO, Kyung-Jun Lee, talking on the corporate’s This autumn earnings name, whereas the Digital Membership service is “at first stage,” its income “are anticipated to extend progressively,” with income recognition ranging from January 2025 following a month’s free trial for customers.
The corporate’s “artist-indirect” phase, which incorporates merchandising, licensing, and the Weverse superfan platform, noticed revenues soar 14.5% YoY to KRW 809.29 billion ($593.56 million) in 2024.
Weverse says that Listening Social gathering will “supply a brand new approach of communication” for followers, artists, and labels by way of music.
The platform notes that “followers can come collectively to voice their assist whereas concurrently offering tangible advantages to their favourite artists by way of lively streaming”.
For artists, the brand new in-app ‘Listening Social gathering’ streaming service affords a brand new avenue for participating with superfans, whereas labels can use the function for promotional campaigns when releasing new music.
“The primary precedence of Weverse is to supply the last word fan expertise,”
Joon Choi, Weverse
Joon Choi, President of Weverse, emphasised the corporate’s strategic imaginative and prescient behind the launch: “The primary precedence of Weverse is to supply the last word fan expertise,” stated Choi.
“By introducing providers like Listening Social gathering, Weverse is devoted to fostering ongoing participation between artists and followers whereas concurrently providing artists an opportunity to faucet into the elevated alternative in direct-to-fan engagement.”
The launch of the brand new in-app streaming service arrived three months after Weverse revealed its 2024 World Fandom Development Report, which confirmed a 30% year-over-year enhance in artist communities on the platform to 162.
Weverse counted 9.4 million month-to-month lively customers as of the tip of 2024 (see under).
Weverse additionally hit the milestone of 150 million cumulative international downloads in 2024, whereas artists shared about 206,000 posts on the platform. Followers created 370 million posts and despatched 4.88 million digital Fan Letters.
Weverse Dwell, the platform’s real-time video function, streamed 5,787 broadcasts totaling 4,779 hours of content material with 11.25 million viewers and 426 million complete views.
The platform has attracted high-profile worldwide artists in latest months, together with Ariana Grande, Dua Lipa, Megan Thee Stallion, and Conan Grey.
Joon Choi not too long ago participated in SXSW Session, entitled The Way forward for Music: Constructing a Superfan-Centric Enterprise to debate superfans within the music enterprise.
“As soon as fandoms develop past a sure stage, their wants increase past basic social media, and devoted platforms like Weverse are essential to retain the followers,” stated Choi.
“Weverse is a tailored platform for superfans, integrating e-commerce, streaming and neighborhood options which can be essential to satisfy the rising wants of superfans.”
He added: “Artists and followers know that Weverse is the place essentially the most loyal, core followers are. Due to this, it creates a singular surroundings the place they’ll work together in a extra significant approach.”Music Enterprise Worldwide
