Hybe’s Weverse Launches ‘Listening Parties’

Hybe’s superfan platform Weverse launches a new in-app music streaming service, ‘Listening Party.’ Artists and fans can host online streaming parties to listen to curated playlists and chat in real time.

Weverse’s new service integrates Spotify as the platform’s primary streaming partner. As a result, users will need both a Spotify Premium subscription and a Weverse account to access the Listening Party feature. All users can join a virtual listening party, but hosting capabilities are excluslvely available to subscribers of Weverse’s Digital Membership program, which launched in December.

Hybe CFO Kyung-Jun Lee said during the company’s Q4 earnings call that while Digital Membership is still in its infancy, profits “are expected to increase gradually.” Revenue recognition will have started in January, following a month’s free trial for users when the program launched in December.

Weverse’s Listening Party feature will “offer a new way of communication” for fans, artists, and labels through music. The company notes that “fans can come together to voice their support while simultaneously providing tangible benefits to their favorite artist through active streaming.”

“The main priority of Weverse is to offer the ultimate fan experience,” says Weverse President Joon Choi. “By introducing services like Listening Party, Weverse is dedicated to fostering ongoing participation between artists and fans while simultaneously offering artists a chance to tap into the increased opportunity in direct-to-fan engagement.”

Joon Choi also recently participated in a SXSW Session, “The Future of Music: Building a Superfan-Centric Business” to discuss superfans in the music industry.

“Once fandoms grow beyond a certain level, their needs expand beyond general social media, and dedicated platforms like Weverse are necessary to retain the fans,” said Choi. “Weverse is a tailor-made platform for superfans, integrating e-commerce, streaming, and community features that are necessary to meet the growing demand of superfans.”

“Artists and fans know that Weverse is where the most loyal core fans are,” he continued. “Because of this, it creates a unique environment where they can interact in a more meaningful way.”