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.
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