By April 2020, it was announced that SM and Naver had signed a Memorandum of Understanding (MOU) with purpose to expand the reach of concerts to global audience. The joint efforts leads to the creation of Beyond Live, a series of online live concerts, which were created in light of the ongoing COVID-19 pandemic. On April 20, SM released the first trailer on their official YouTube channel announcing the upcoming series of live concerts dubbed as the "new era of live concert", with the first live show to be headlined by SuperM. The concerts are hosted on Naver's V Live app and made available to audience from more than 200 countries. On August 3, Naver invested ₩100 billion in SM. This would be used for their subsidiaries SMEJ Plus and Mystic Story, as well as plans for merging their fanclubs into V Live's Fanship platform and developing more Beyond LIVE concerts. A day later, SM announced its partnership with JYP Entertainment to establish Beyond LIVE Corporation, a joint company for producing Beyond LIVE concerts.