SM Entertainment acquires 51% of Studio Clon

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SM Entertainment acquires 51% of Studio Clon

Published: 26 Apr. 2023, 16:25

[SM ENTERTAINMENT]

SM Entertainment acquired 51 percent of production company Studio Clon through its affiliate Studio Kwangya, according to the K-pop agency on Wednesday.

Established in 2011, Studio Clon specializes in video post-production and worked on some 2,300 projects.

Studio Clon and metaverse content production house Studio Kwangya will collaborate to create high quality metaverse content related to virtual reality (VR) and virtual humans, as well as to digitally archive artist-related intellectual properties.

Studio Kwangya’s acquisition of Studio Clon is part of SM Entertainment’s “SM 3.0” project announced in February. One of the agency’s goals is to focus investment on metaverse content to provide a distinctive entertainment experience to global fans.

Studio Kwangya, established in July 2022, is a production company which works on visual effects, post-production and VR. The studio also formed the joint venture “Studio A” with VR platform AmazeVR to create immersive VR concerts.

BY LEE JAE-LIM [[email protected]]