Kakao Entertainment accelerates its global music business growth by focusing on North America, the core of the global entertainment industry.
On March 24th, Kakao Entertainment announced that a partnership has been established between Columbia Records, a subsidiary of Sony Music, and its local subsidiary, Kakao Entertainment America. Based on Columbia Records’ music business capabilities in North America, the plan is to expand Kakao Entertainment’s global music distribution network and further strengthen the global competitiveness of its music business.
As the first step, they will be in charge of the global management of IVE, an artist from Kakao’s affiliated label Starship Entertainment, including their entry into North America. In addition to introducing IVE’s first full-length album “I’ve IVE” to be released on April 10th, they will fully support the global music distribution, local North American marketing, and promotion of the pre-release song “Kitsch” which will be released on March 27th.
IVE, who debuted in December 2021, has become a representative K-pop group by releasing consecutive hits with “ELEVEN,” “LOVE DIVE,” and “After LIKE.” They have achieved over 3 million cumulative sales with just three single albums, In addition, the girl group has won a total of 74 trophies, including rookie awards and grand prizes at various major awards ceremonies, within just two years of debut.
In addition, IVE, which has been continuing its activities in Japan with the release of the Japanese version of “LOVE DIVE” and local fan concerts, plans to further solidify its position as a global K-pop artist by expanding its overseas stages, focusing on North America through this first full-length album. In particular, Columbia Records, which has managed the U.S. distribution and promotion of BTS’s “Dynamite” and “Butter”, as well as global pop stars such as Beyoncé, Adele, and Harry Styles, is expected to create various synergies with IVE.
Following IVE, Kakao Entertainment will continue to promote the entry of artists from its affiliated labels and accelerate the expansion of its global music business. Centered around Kakao Entertainment America, they plan to build a global management system to comprehensively support their artists’ overseas tours, promotions, and album releases by partnering with leading global entertainment companies and local experts. At the same time, they will explore various cooperation methods with global partners to strengthen the global competitiveness of their investment distribution business. In addition, they plan to collaborate with Tapas Entertainment, a North American corporation in the story sector, to promote global synergy of IP Value Chain that connects Kakao Entertainment’s music, story, and media. Through this, they aim to expand their influence as a global entertainment company, representing K-culture by accelerating their performance in the global market.
Jang Yoon Jung, the Global Strategy Officer (GSO) of Kakao Entertainment America, said, “It is of great significance to join forces with Columbia Records, which has created the history of pop music, for the full-fledged global move of K-pop’s representative artist IVE.”
“We will strengthen the global competitiveness of Kakao Entertainment’s music business, which encompasses planning, production, and distribution of music and artists, focusing on North America, and establish a solid foundation for global growth,” he added.
Source: Daum
