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| Models promote Vibe, a music streaming service operated by Naver. Courtesy of LG Uplus |
By Lee Kyung-min
LG Uplus, a mobile network operator affiliate of LG Group, and Naver, the operator of the country's largest online portal, have teamed up to provide integrated music and entertainment media services, according to the two firms, Wednesday.
The LG affiliate said its users will be able to stream music without limits on Vibe, a Naver-operated music streaming service, for a monthly fee of 8,700 won ($7).
Launched in June 2018, Vibe is an artificial intelligence (AI) music streaming service. It recommends a list of songs based on user preferences.
LG Uplus users will be given a 20 percent discount for three months using membership mileage.
Vibe's service will be free for users paying a monthly mobile subscription fee of over 90,000 won.
The integrated service will help create synergy for the two IT market players, leading to increased customer satisfaction.
"LG Uplus customers will be able to enjoy high-quality music streaming services, while Naver will draw and lock in new customers in the long term," LG Uplus said.
The two will strengthen efforts to better promote cultural content on their online platforms.
Contents generated by the LG affiliate will be distributed through NOW, an entertainment platform operated by Naver.
First-time subscribers of Vibe will receive a 20 percent discount for the following two months. A total of 1,000 Naver Pay points will be given to 10,000 new Vibe subscribers.
Meanwhile, local financial market watchers say LG Uplus' earnings for the fourth quarter of last year will be better than expected. The figures will be announced Feb. 3.
Its operating profit is expected to stand at 250.4 billion won, up 58 percent from a year earlier. This is a significantly better performance compared to the market consensus of 227.3 billion won.
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