The popular IP ‘Siren’, which has garnered 220 million views, will be adapted into a musical through a collaboration between Kakao Entertainment and Show Note. This work, which has gained popularity as a webtoon and web novel, is scheduled to have its grand opening at a major theater in April 2026. Combining world-class creators and musical expertise, the production aims to showcase a beautiful fantasy on stage, with auditions currently underway. This musical is also drawing attention as a case study of Kakao Entertainment’s IP value chain.