Market Chatter: Naver to Shut Down Music Streaming Platform Vibe in November

MT Newswires Live

Sep 07

Naver (KRX:035420) plans to shut down its music streaming platform Vibe, as the South Korean internet giant ramps up its business portfolio streamlining efforts in a bid to curb its underperforming or loss-making businesses, the Korea Times reported Monday.

New subscriptions and payments on Vibe will be suspended from Nov. 27, the report said.

Vibe struggled to gain pace, with monthly active users falling to 460,000 in June from about 1.5 million in 2023, the report said, citing Wiseapp Retail data.

Naver shut down its conversational AI service Clova X and generative AI search service Cue in April, incorporating their technology and experience into newer search features such as AI Briefing and AI Tab. In 2025, Naver closed its creator platform Naver Post and website-building service Modoo, it said.

Shares of Naver added over 2% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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In 2025, Naver closed its creator platform Naver Post and website-building service Modoo, it said.Shares of Naver added over 2% in recent trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}