SK Telecom invests $9.3 million in mobile media startup Makeus

2018.06.11 15:35:51 | 2018.06.11 15:40:30

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South Korea’s top mobile carrier SK Telecom Co. said on Monday that it has invested 10 billion won ($9.3 million) in digital content producer Makeus Corp. with hopes to enhance competitiveness of its music platform scheduled for launch later this year.

Makeus - well known as the creator of Dingo Music - is a startup that produces mobile video contents of a wide range of subjects from music, food, travel, and beauty and manages channels on Facebook and YouTube. The company’s subscribers on Facebook, YouTube, and Instagram reached a total 33.6 million as of last year with the total number of views hitting 3.7 billion.

The company’s music channel Dingo Music, in particular, is popular for its music video contents produced in a vertical form to fit the shape of a smartphone screen.

An unnamed official from SK Telecom said that it has decided to invest in Makeus to not only boost the overall music ecosystem but also to enhance competitiveness of its new music streaming platform that is scheduled to be launched in the second half of this year. SK Telecom is considering various partnerships with the company such as co-producing music programs.

SK Telecom, meanwhile, announced earlier this year that it will provide differentiated service by expanding visual music content and recommending personalized music by integrating information and communication technologies such as artificial intelligence and blockchain and create a creator-friendly music industry environment.

By Seo Dong-cheol and Lee Eun-joo

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