Accelerating Global Expansion Through Partnership Building and More
Kakao Entertainment is focusing on global expansion in the music sector in the second half of this year and accelerating its business efforts. While continuously promoting artists' global activities, it plans to concentrate on producing global local intellectual property (IP) and expanding its global music distribution network.
From the top left clockwise: SM Entertainment, Idam Entertainment, IST Entertainment, Starship Entertainment [Photo by Kakao Entertainment]
First, it will expand its global entertainment business network. In fact, it has partnered with China's Tencent Music's QQ Music and NetEase Music to introduce K-pop music and artists. It also plans to solidify partnerships with various local platforms in different countries, including global music platforms such as Spotify and Apple Music.
Kakao Entertainment and SM Entertainment are accelerating the production of global IP through their North American joint corporation. The UK boy group project formed in collaboration with the UK entertainment company Moon&Back (M&B), which the North American corporation partnered with, will officially debut in the second half of the year. M&B is a TV program production company headquartered in London, UK, with a broad global network.
Global activities of label artists will also continue. IU and IVE will meet fans on large stages in the second half of the year, and The Boyz will start their world tour. IU from EDAM Entertainment will embark on a North American tour in July. IVE from Starship Entertainment will perform at world-renowned music festivals such as Lollapalooza Chicago in the US and Summer Sonic in Japan in August. The Boyz from IST Entertainment will begin their third world tour, 'Generation II,' in the second half of this year.
Jang Yoon-jung, co-CEO of Kakao Entertainment and head of the Music IP division, said, "We will further strengthen the global competitiveness of Kakao Entertainment's music business and firmly establish our position as a key global K-pop player."
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