Business Agreements with Chinese and Japanese Music Platforms
On December 23, Kakao Entertainment announced that it will establish an integrated chart for Korea, China, and Japan by forming partnerships with Tencent Music in China and Line Music in Japan to further expand the global reach of K-pop.
Kakao Entertainment has signed separate Memorandums of Understanding (MOUs) with these companies to launch the "K-pop Artist Chart" within its music platform Melon, which will integrate user data from Tencent Music's platforms in China (QQ, KUGOU, KUWO, JOOX) and Line Music in Japan.
The company plans to enhance the chart's authority by combining Melon's 20 years of operational expertise with Tencent Music's market share in Greater China and Southeast Asia, as well as the influence of Line Music, which is linked to the LINE communication app used by 99 million people in Japan.
Jang Yoonjung, CEO of Kakao Entertainment, stated, "It is meaningful that three companies leading the Asian music industry are collaborating to introduce a chart that will become the global standard for K-pop," and emphasized, "By providing a highly credible benchmark for the K-pop market, this chart will contribute to the growth of the ecosystem and the elevation of K-pop's global status."
Masuda Jun, CEO of Line Music, said, "Reflecting the activities of K-pop fans in global charts is a significant step for both artists and fans," adding, "We will continue to work towards expanding the ecosystem for local artists, including J-pop, as a music fandom platform."
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