The Era of SM 3.0, Fans Ask and SM Answers

Summary

In this presentation, SM Entertainment’s Co-CEOs, Chris Lee and Young-jun Tak, introduced their SM 3.0 era, which focuses on transparent communication, global expansion, and artist protection. They outlined new initiatives such as ‘KWANGYA 119’, a reporting platform for malicious activities, and plans for better artist care, including health management and development opportunities. SM also unveiled changes in the NCT system and emphasized their commitment to resolving fan concerns about ticket sales and concert disruptions. The leaders pledged to strengthen their efforts for a sustainable and respectful K-pop future, with a focus on artists and fans' well-being.

Takeaways

• 😀 SM Entertainment is committed to an open and transparent communication strategy with fans, especially regarding artist concerns and company developments.
• 😀 The company has expressed regret for not responding to fans' concerns sooner and aims to improve communication through future presentations.
• 😀 SM is introducing 'KWANGYA 119', a reporting platform to handle slander and malicious comments against artists in a more systematic way.
• 😀 SM plans to partner with technology companies to implement AI functions that will help filter out fake news online.
• 😀 SM will actively address issues on social networks and platforms by working with platform companies to limit malicious users' activities, including proposing a 'red badge' system.
• 😀 SM will raise awareness about the severe psychological impact of malicious content on artists and will advocate for stricter punishments for harmful content.
• 😀 As part of the SM 3.0 strategy, SM will ensure artists’ activities and plans are disclosed transparently and executed as planned, minimizing delays and cancellations.
• 😀 SM is shifting to a more inclusive system, where content production will be diversified to ensure that all artists receive equal attention and opportunities.
• 😀 The NCT system will undergo significant changes, including the cessation of member additions, with a focus on supporting existing members' diverse activities.
• 😀 A new 'Artist Care Center' will be established to focus on artists’ well-being, providing support for mental health, physical condition management, and personal development opportunities.

Q & A

What is the primary goal of SM Entertainment's SM 3.0 era?

The primary goal of SM Entertainment's SM 3.0 era is to create a more transparent, fan-centered approach with improved artist management, content creation, and global expansion. This era is about transforming the company to better serve its artists and fans while enhancing the value of K-pop globally.

Why is SM Entertainment introducing the 'KWANGYA 119' website?

The 'KWANGYA 119' website is being introduced to provide a more systematic and transparent method for fans to report malicious content and illegal activities. This will help the company address concerns about artist protection and improve communication with fans regarding the progress of such reports.

How does SM Entertainment plan to tackle fake news online?

SM Entertainment plans to introduce an AI function to filter out fake news online, in collaboration with technology companies. This effort is aimed at protecting artists from false information and ensuring more accurate news is shared.

What measures will SM Entertainment take to address malicious comments on social media?

SM Entertainment plans to implement a 'red badge' system for users who have repeatedly posted malicious content, such as slander or abusive language. This system would limit their activities and work with platform companies to ensure stricter enforcement against harmful users.

What changes are planned for NCT in the SM 3.0 era?

With the debut of NCT Tokyo in 2023, SM Entertainment is officially ending NCT's infinite expansion, meaning there will be no further member changes. The focus will shift to supporting the current members in more diverse activities.

How will SM Entertainment support the well-being of its artists?

SM Entertainment will establish an 'Artist Care Center' to focus on the health and happiness of artists. This includes providing personalized psychological counseling, physical condition management, sleep management, and opportunities for further education and development in various areas.

How will SM Entertainment address the issue of high ticket fees?

SM Entertainment is working to resolve the issue of high ticket fees, particularly the KRW 5,000 fee associated with mobile app-based ticketing. The company opposes fees that are not mutually agreed upon and plans to negotiate with partners like Dream Maker to find a fair solution.

What is SM Entertainment's approach to dealing with premium tickets and resellers?

SM Entertainment is actively seeking ways to address the issues related to premium tickets and resellers. The company plans to work with performance companies to take action against illegal sellers, and one proposal includes offering the first reporter of fraudulent transactions the opportunity to buy tickets at a regular price.

How does SM Entertainment plan to improve communication with its fans?

SM Entertainment aims to improve communication with fans by regularly disclosing artist activity plans and fulfilling commitments on a quarterly basis. The company also seeks to ensure that content is fairly distributed across all artists and that fans receive complete information through official social networks.

What does SM Entertainment believe is essential for the sustainable growth of K-pop?

SM Entertainment believes that for K-pop to grow sustainably, the issues raised by fans and artists must be addressed. This includes improving fan-artist relations, protecting artists from malicious content, and ensuring transparency in business operations and fan interactions.