Kakao M
South Korean entertainment company and leading music distributor.
Kakao M Corporation, formerly Seoul Records, YBM Seoul Records, and LOEN Entertainment, was a South Korean entertainment company founded by Min Yeong-bin in 1978. It operated as a record label, talent agency, music production company, event management, concert production company, and music publishing house, and was one of the largest co-publisher companies in South Korea. In 2015, it was the leading record company in South Korea by net revenue (30.4%) and second in album sales (25.4%), according to the Korea Music Content Industry Association. The company became defunct on March 2, 2021, upon merging into KakaoPage, forming Kakao Entertainment.
Quick Facts
- Former Name
- Seoul Records (1978–2000, 2005–2008) · YBM Seoul Records (2000–2005) · LOEN Entertainment (2008–2018)
- Industry
- Music · entertainment
- Founder
- Min Yeong-bin
- Defunct
- 2021-03-02
- Fate
- Merged into KakaoPage, subsequently renamed Kakao Entertainment. Business and subsidiaries were put up as the Kakao Entertainment M Company division
- Successor
- Kakao Entertainment
- Hq Location City
- Seoul, South Korea
- Services
- Music production, publishing, distribution, and artist development and management
- Subsidiaries
- see list
Facts from the source article.
Lore & Background
Kakao M was founded as Seoul Records in 1978 by Min Yeong-bin as a subsidiary of YBM Sisa, a company focused on language-learning tapes. It was officially registered in 1982 and began producing and distributing classical and traditional music records in 1984. In 2000, the company changed its name to YBM Seoul Records and began operating on KOSDAQ. SK Telecom bought a 60% share in 2005, making it part of SK Group. In 2008, the company was renamed LOEN Entertainment, an abbreviation for Live On Entertainment Networks or LOve + ENtertainment. LOEN took charge of SK Telecom's online music distribution service, MelOn, in 2009, which became the most used online music sales site in South Korea. In 2013, Affinity Equity Partners bought a 52.56% stake, reducing SK Group's share to 15%. LOEN acquired 70% of Starship Entertainment in December 2013, making it an independent subsidiary.
Reader's Guide
Kakao M's significance lies in its dominance of South Korea's online music market through MelOn, which generated 93.9% of its revenue from online music sales. As the leading record company by net revenue in 2015, it shaped the digital music landscape in South Korea. Its acquisition by Kakao Corporation in January 2016 and subsequent renaming to Kakao M in March 2018 reflected the integration of music, media, and technology. The company's legacy includes its role in distributing music for other agencies via 1theK, though this accounted for less than 5% of revenue. Its merger with KakaoPage in 2021 created Kakao Entertainment, consolidating its influence. Controversies, including price-fixing fines in 2011 and 2016 and a 2019 royalty theft case, highlight challenges in its operations. Overall, Kakao M was a pivotal entity in the evolution of South Korea's music industry from physical records to digital streaming.
Did You Know?
- The company's name Kakao M stood for Melon, Music, and Media.
- On March 2, 2021, Kakao M merged with KakaoPage to form Kakao Entertainment.
More in South Korean record labels 1-24
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