Leading South Korean online music company Bugs Interactive is set to join the already crowded market in Taiwan through a joint venture.
Bugs Interactive recently acquired a 30%-40% stake in Sky Entertainment, a Taipei-based online PC game provider, according to a Sky Entertainment spokesperson.
Sky Entertainment plans to introduce a PC-based entertainment portal consisting of online music, online games and blog services in February and March, the spokesperson says.
Using what it terms a “cross-selling” marketing strategy, the company hopes to boost its traffic in the three services. For example, with one account, a user can open his or her own blog site on the portal, while adding background music for the blog.
Sky Entertainment aims to become Taiwan’s biggest online music service within its two years of operation, the spokesperson claims.
He adds that the service will feature a streaming audio service for NT$149 ($4.54) a month and downloading for between NT$25 ($0.76) and NT$35 ($1.07) per song.
Sky Entertainment has been in talks with major record labels and is about to conclude licensing deals with them, says the spokesperson.