Analysing the new marketing model for entertainment companies: A case study of SM. entertainment

Abstract

In recent years, the metaverse have captured the general public’s attention. After so many years of development, the Korean entertainment market has become more and more competitive, and SM Entertainment, as the leading Korean entertainment company, chose to catch the wave of metaverse and create a unique metaverse marketing model, which has been a great success. The aim of the paper was to explore whether SM’s “metaverse” strategy could be a new model for all entertainment companies. This paper investigated the influential factors based on the 4Is of marketing mix theory and through a SWOT analysis. The paper showed that the importance of interest and Interaction is rising in the entertainment market. It concluded that this marketing model has won because of its uniqueness; therefore, other companies cannot replicate its success. If one company wanted to take its place in the competitive market, it would need to have its own unique marketing model.