Apr 23, 2024

Kakao Entertainment Forms Partnership with Billboard for Global Expansion of K-Pop

SEOUL, April 18, 2024 – Kakao Entertainment has announced that it has signed a partnership agreement with Billboard to enhance the influence of K-pop worldwide. Joseph Chang, co-CEO of Kakao Entertainment, met with Billboard President Mike Van and Billboard Korea Publisher Yuna Kim at Kakao Entertainment’s Seoul offices on Wednesday, April 17, 2024, for in-depth discussions on how to promote cooperation between all sides as global partners. This marks the first time that Billboard has formed an official partnership concerning K-Pop.

This partnership brings together Kakao Entertainment, Billboard, and Billboard Korea to build a comprehensive cooperation system in order to introduce the full spectrum of Korean music and a variety of related content to fans worldwide, and to push for far-reaching marketing and promotional campaigns to support the global activities of K-Pop artists. They will also unveil a new business model related to K-Pop by combining Kakao Entertainment’s expertise in planning, production, and marketing of music intellectual property (IP) with Billboard’s rich data assets and influence in the media sector. Billboard plans to leverage this move to ensure that Billboard Korea, scheduled to launch in June, establishes itself successfully and expands its music portfolio for greater influence in the global music industry.

The partnership will pave the way for Kakao Entertainment to accelerate its expansion into global markets. Kakao Entertainment has built a systematic management system with a focus on its North American subsidiary and has helped its artists in their global activities. It has also strengthened its network with partners in the entertainment industry to create a more robust global channel for disseminating its content. The collaboration with Billboard and Billboard Korea is projected to allow Kakao Entertainment to boost the influence of intellectual property (IP) involving its music and artists in various markets, further reinforcing its competitiveness in the music business. 

In particular, Kakao Entertainment will support and enhance the global activities of highly talented artists from its subsidiary or partner labels, such as SM Entertainment, Starship Entertainment, and other Korean music labels. This strategy is aimed at building a broader and stronger fan base for K-Pop by introducing fans around the globe to artists and music from various genres, including new musicians with unique colors.

“Kakao Entertainment is a key player that collaborates with a rich pool of partners in the K-Pop industry and has considerable expertise in content development, production, and marketing. We expect the partnership between our two companies to introduce music fans to the multi-faceted appeal of K-Pop,” said Mike Van, Billboard President and Yuna Kim, Billboard Korea Publisher. 

“The partnership with Billboard, a behemoth with a long history in the music scene, and Billboard Korea will enable K-entertainment, including K-pop, to take a big step forward,” said Joseph Chang, Kakao Entertainment co-CEO. “Kakao Entertainment will strive to showcase the diverse allure of K-pop to global markets and continue to explore different avenues for the expansion of the industry and its balanced growth worldwide.”