Naver signs licensing deal with Universal Music to elevate creators' content
Naver said Friday it has signed a music licensing agreement with Universal Music Group, the world's largest record label, allowing creators on its short-form video platform Clip to use a vast library of global music in their videos.
Through the agreement, Clip creators will have access to over 2.1 million tracks from top international artists including The Beatles, Taylor Swift and Billie Eilish.
The latest deal builds on Naver's efforts to expand its music offerings, following the addition of a wide range of K-pop, indie and jazz tracks last month.
The timing of the partnership aligns with Clip's newly launched location-based challenge, Today's Clip, which encourages users to freely share content from trendy hotspots without thematic restrictions.
According to Naver, the campaign has driven a 35 percent increase in user-generated videos compared to the previous month's Clip Power Challenge, with a particularly strong turnout from users in their teens and twenties.
To further support its creator ecosystem, the IT company has also rolled out a series of updates to the Clip video editor.
These include easier background music integration, recommendations for newly released or trending tracks and a new feature allowing users to bookmark frequently used songs for quick access.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Korea Herald
40 minutes ago
- Korea Herald
The Black Label to launch coed quintet
A five-member act named Allday Project is slated to debut on June 23 under The Black Label, the agency announced Monday. The quintet will comprise two male and three female members — including Youngseo and Annie. Youngseo had been expected to debut in girl group Illit when she claimed the No. 2 spot on K-pop competition show 'R U Next?' through which the group was formed. However, she parted ways with agency Belift Lab and Illit debuted with five members. Annie, meanwhile, is the eldest daughter of Shinsegae Chairperson Chung Yoo-kyung and the granddaughter of the group's Chair Lee Myung-hee. She is a Columbia grad whose real name is Moon Seo-yoon, and has been training under Teddy Park, the CEO of The Black Label known as a main producer behind Blackpink, since last year. The mixed-gender band opened a social media account on Monday and will put out a series of teasers leading up to its debut.
Korea Herald
an hour ago
- Korea Herald
Battery makers push President Lee for direct subsidies
Korean firms seek bolder funding as Chinese rivals leverage robust government backing South Korean battery manufacturers are urging President Lee Jae-myung to act as they face slowing electric vehicle demand and intensifying competition from Chinese rivals increasingly dominating global markets. On May 31, three days before the presidential election, Lee wrote in a Facebook post, 'I will recharge the South Korean economy with K-batteries,' underscoring his belief that the battery industry is key to driving Korea's next economic leap. Lee's pledges included strengthening research and development to secure cutting-edge technologies such as all-solid-state batteries; introducing domestic production tax incentives; creating a "battery triangle belt" connecting the Chungcheong, Yeongnam, and Honam regions; increasing battery demand through energy storage systems; and nurturing the battery recycling industry. Calls for IRA-style subsidies While industry insiders are optimistic about the domestic tax incentives, they anticipate a more direct form of financial support from the government. Lee's tax benefit pledge offers tax breaks for companies producing and selling battery products in Korea, similar to the US Advanced Manufacturing Production Credit under the Inflation Reduction Act. However, AMPC also includes options like 'cash refunds' and 'third-party transfers' in addition to tax benefits. 'If we could receive cash returns, we'd have more flexibility to expand investments in global markets — particularly in the US, where rising tariffs on automobiles and parts are already dragging down the EV market,' said an industry source on condition of anonymity. The source emphasized that additional support measures are needed, pointing out that unlike China, which offers subsidies from direct funding to state-led R&D programs, the Korean government has only granted corporate tax credits. Under the Act on Restriction on Special Cases Concerning Taxation, the battery industry is designated a national strategic technology, making it eligible for approximately 15 percent and 30 percent tax credits on facility investments and R&D, respectively. However, these credits apply only to companies that are generating taxable profits. In the first quarter, Korea's top three battery makers — LG Energy Solution, Samsung SDI, and SK On — all reported operating losses, even when factoring in benefits from AMPC. As a result, they are likely ineligible for domestic tax breaks, despite having collectively borrowed 49.6 trillion won ($36.5 billion) for large-scale investments both at home and abroad. Chinese surge Experts suggest that even with the battery sector's strategic importance, direct subsidies from the Korean government remain unlikely. 'Korea has traditionally been wary of direct funding due to the associated risks and concerns over misusing taxpayer money,' said Kim De-jong, a business professor at Sejong University. 'In contrast, while China provides massive subsidies, it often gains substantial control over the company's management and operations.' Kim added that more feasible alternatives to direct subsidies could include offering discounted rates on electricity and water for domestic production facilities. Meanwhile, Chinese battery giants CATL and BYD have strengthened their grip on the global EV market. According to SNE Research, CATL and BYD held market shares of 38.1 percent and 17.3 percent, respectively, as of the latest period, up from the previous year. LG Energy Solution ranked third but saw its share fall from 12.3 percent to 10.2 percent. SK On and Samsung SDI also experienced declines, with market shares dropping to 4.3 percent and 3.3 percent, respectively.
Korea Herald
4 hours ago
- Korea Herald
Shinsegae heiress Moon Seo-yoon to debut in new co-ed K-pop group
Shinsegae heiress, former Illit member and former Big Hit Music traniee to debut as AllDay Project A Shinsegae scion's long-rumored debut in the K-pop scene has been confirmed, with Moon Seo-yoon, the eldest daughter of Shinsegae Group president Chung Yoo-kyung, revealed as a member of an upcoming co-ed K-pop group. On Monday, The Black Label unveiled teaser photos and member profiles for AllDay Project, confirming the group's debut date as June 23. The five-member act includes Moon, referred to as Annie, alongside former Illit member Youngseo, former BigHit Music trainee Woochan, renowned dancer and choreographer Bailey, and model Tarzzan. Annie, a student at Columbia University, is the granddaughter of Shinsegae Group chair Lee Myung-hee. Rumors of her potential idol debut have circulated since last year, drawing considerable public attention. AllDay Project marks The Black Label's second idol group following Meovv, and is produced by Teddy, the label's founder and chief producer. Diverse teaser content will be gradually released in the lead-up to the group's debut date.
