• International journal of advanced smart convergence
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• v.10 no.4
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• pp.172-182
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• 2021

We look at the business model development of a fan community platform 'Weverse' from two-sided platform (TSP) to multi-sided platform (MSP) and investigate its platform business model. From the Rocket Model's theoretical perspective, the results reveal that Weverse firstly focuses on inviting artists as many as possible starting from BTS, then attracts new artists' fans naturally. For success of this TSP, it forms MSP, 'Weverse Shop' to meet two sides' relevant needs timely and filtered. In third stage of connection, various partnerships are attempted in terms of open platform strategies. For instance, by combining 'VLive' and Weverse, Naver's fan platform business is transferred to Weverse. For core transaction through direct and indirect monetization, several cobranding activities are tried. Lastly, regarding optimization, newly born Weverse being launched in the first half of 2022 is supposed to create further synergies with Naver's R&D capabilities in data, AI, and other technologies like metaverse platform 'ZEPETO' which already sells clothing items of Weverse artists.

• Smart Media Journal
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• v.13 no.6
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• pp.62-71
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• 2024

This study applies topic modeling to uncover user experience and app issues expressed in users' online reviews of a fan community platform, Weverse on Google Play Store. It allows us to identify the features which need to be improved to enhance user experience or need to be maintained and leveraged to attract more users. Therefore, we collect 88,068 first-level English online reviews of Weverse on Google Play Store with Google-Play-Scraper tool. After the initial preprocessing step, a dataset of 31,861 online reviews is analyzed using Latent Dirichlet Allocation (LDA) topic modeling with Gensim library in Python. There are 5 topics explored in this study which highlight significant issues such as network connection error, delayed notification, and incorrect translation. Besides, the result revealed the app's effectiveness in fostering not only interaction between fans and artists but also fans' mutual relationships. Consequently, the business can strengthen user engagement and loyalty by addressing the identified drawbacks and leveraging the platform for user communication.

• The Journal of the Convergence on Culture Technology
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• v.8 no.3
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• pp.537-541
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• 2022

As technology advances, various applications linked to the music industry are becoming popular through new media. There have been many changes in the music market. Beyond the existing music market, where music copyright and performance rights were the center of the music business, we are unifying and operating communication channels that connect artists and fans, such as investment products derived from music copyrights. The technology that connects the fandom with additional business digital content has transformed into global platforms such as HYBE Entertainment's and YG Entertainment's Weverse, as well as SM Entertainment's Bubble. In addition, various national support projects to build a 5G MEC (MobileEdge Computing) environment to quickly respond to the rapidly changing 5G industry ecosystem are supporting for the immersive content demonstration, immersive content testing, and technical analysis, we are laying the groundwork to efficiently respond to the ever-expanding metaverse content market. Technology is changing dramatically. Therefore, we would like to study to changes in the music market brought about by technology and suggest strategies for a new era in the music business.

• Journal of Korea Entertainment Industry Association
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• v.15 no.1
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• pp.1-12
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• 2021

Big Hit entertainment corporation has been well known for value creation since it became the contents innovator in Korea to develop global artist musician BTS. By introducing sustainable innovations, as well as a mainstream of successive music entertainment growth, Big Hit entertainment corporation has became a global leader in highly competitive entertainment industry. To explain the Big Hit's contents innovation story, this study suggests a innovation momentum with two core elements: CEO's entrepreneurial leadership and platform strategy. Based on in-depth case study, this study proposes that CEO's entrepreneurial leadership allowed the Big Hit entertainment corporation to take advantage of its existing key resources and execute sustainable contents innovations. Also, creating diverse music and entertainment contents from the Weverse digital platform produce Big Hit's value creation. Based on these research results, both the contributions and implication to entertainment industry and academic field are presented.