Kreation Music Rights

Last updated

Kreation Music Rights
Company type Subsidiary
Industry Music
PredecessorSM Friends
FoundedSeptember 2023;1 year ago (2023-09)
Headquarters
South Korea
Key people
 Lee Sung-soo (CEO)
Services Music publishing
Parent SM Entertainment
Website kreation.co.kr

Kreation Music Rights is a South Korean music publishing company and a subsidiary of SM Entertainment. It was launched in 2023 as part of the company's SM 3.0 strategy. As of May 2024, KMR has recruited around 150 songwriters, making it the largest company of its kind in the K-pop industry. [1]

Contents

History

In August 2023, SM Entertainment CEO Jang Cheol-hyuk announced plans during an investor presentation to launch a new music publishing company called Kreation Music Rights (KMR), as part of the SM 3.0 strategy. SM converted the existing SM Friends subsidiary into a music publishing label to support SM's newly established multi-production center system, providing a wider pool of songs for artists. It was also intended to provide an additional revenue stream for the company, enabling the internalization of royalties and music sales to other companies. [2] KMR was launched in September 2023, [3] with investment of 27.1 billion won. [4] Lee Sung-soo, SM's chief A&R officer and longtime head of production, was appointed CEO. [5]

KMR established a European office in Stockholm in December 2023. Writers signed to the company include Norwegian songwriting team Dsign Music, responsible for songs such as Girls' Generation's "Genie", NCT Dream's "ISTJ" and Taemin's "Want", and Sweden-based duo Sunshine, responsible for Red Velvet's "Psycho" and Aespa's "Spicy". KMR also acquired the South Korean production teams MonoTree and The Hub, joining the Kangta-led Smash Hit as CICs (company-in-company). It has plans to establish a North American subsidiary and form additional partnerships with local companies. [6] [7] KMR attracted controversy over its acquisition of The Hub and entertainment company 10x Entertainment, with allegations that it overpaid for the two companies. SM refuted this, explaining that The Hub showed rapid sales growth and 10x was part of its plan to establish a label. [8] In March 2024, KMR launched the production label Kustomade, representing former Stray Kids member Kim Woo-jin and Yelo, a member of MonoTree. [9] [10] It signed business agreements with several educational institutions to foster new talent in the field of K-pop production, including Dong-ah Institute of Media and Arts and Howon University. [11] [12] In September 2024, Kangta said that SM had released around 170 songs through KMR since its establishment, and that it was saving them up to 60 billion won per year in copyright and publishing fees. [13]

Labels

Company-in-company

Production labels

Artists

Kustomade

Related Research Articles

<span class="mw-page-title-main">Lee Soo-man</span> South Korean business executive and record producer (born 1952)

Lee Soo-man is a South Korean business executive and record producer who is best known for being the founder of SM Entertainment, a multinational South Korean entertainment company based in Seoul. He has also been referred to as the "president of culture", as one of the pioneers of the Korean Wave. Lee debuted as a singer in 1971 while he was a student at Seoul National University. In 1989, he founded SM Entertainment, which has since become one of the largest entertainment companies in the country.

<span class="mw-page-title-main">Kangta</span> South Korean singer

An Chil-hyun, known professionally as Kangta, is a South Korean singer, composer, songwriter, record producer, actor and radio personality. He is well known as a member of boy band H.O.T.. Also he is an executive of SM Entertainment since 2005 and the chief producer of Kreation Music Rights's label Smashhit since 2023.

<span class="mw-page-title-main">SM Entertainment</span> South Korean entertainment company

SM Entertainment Co., Ltd. is a South Korean multinational entertainment agency established in 1995 by Lee Soo-man. It is one of South Korea's largest entertainment companies and has been responsible for fostering and popularizing the careers of many K-pop stars garnering huge global fanbases. The company operates as a record label, talent agency, music production company, event management and concert production company, and music publishing house. SM Entertainment is known for having led the worldwide K-pop phenomenon and the musical side of "Hallyu", also known as the "Korean Wave", with early overseas successes such as H.O.T., S.E.S., and BoA.

<span class="mw-page-title-main">JYP Entertainment</span> South Korean entertainment company

JYP Entertainment Corporation is a South Korean multinational entertainment and record label conglomerate founded in 1997 by J. Y. Park. Operating as a record label, talent agency, music production company, event management company, concert production company and music publishing house, it is one of the largest entertainment companies in South Korea. The company also operates subsidiary ventures and divisions internationally.

SM Entertainment (Korean: SM엔터테인먼트) is a South Korean entertainment company established in 1995 by Lee Soo-man. It is currently one of the largest entertainment companies in South Korea. The company operates as a record label, talent agency, music production company, event management and concert production company, and music publishing house.

<span class="mw-page-title-main">Antenna (record label)</span> South Korean record label

Antenna (Korean: 안테나) is a South Korean music and entertainment agency founded by You Hee-yeol of the project band Toy in 1997. Formerly an independent label, it was fully incorporated as a subsidiary under Kakao Entertainment in August 2021. Antenna is known for its motto: "Good people, good music, good laughter".

iHQ Inc., doing business as SidusHQ is one of the leading talent management agencies in South Korea. It was founded in January 2001 by Teddy Hoon-tak Jung. The company is involved in talent management, and TV drama/music production.

Hybe Co., Ltd. is a South Korean multinational entertainment company established in 2005 by Bang Si-hyuk as Big Hit Entertainment Co., Ltd. The company operates as a record label, talent agency, music production company, event management and concert production company, and music publishing house. It has multiple subsidiaries, including Big Hit Music, Belift Lab, Source Music, Pledis Entertainment, KOZ Entertainment, and ADOR, collectively known as Hybe Labels.

KeyEast is a management agency founded by actor Bae Yong-joon.

SM Culture & Contents is a South Korean advertising, production, travel and talent company under SM Studios, a wholly-owned subsidiary of SM Entertainment. The company operates as a talent agency, television content production company, theatrical production company and travel company.

Dear U is a South Korean software development company under SM Studios, a wholly-owned subsidiary of SM Entertainment. The company was formerly called Everysing and was established in July 2017. It merged with Brinicle as it emphasized the union of information technology and entertainment business. It specializes in hosting multimedia content and artist-to-fan communications for artists and offers products and services including Everysing, Lysn, and Bubble.

SM Studios is a South Korean Holding company wholly owned by SM Entertainment. It was established after SM restructured its affiliates to focus on its music business. The company manages drama, entertainment, and fields of new media.

Remastering Project is a music video remastering project by South Korean record label SM Entertainment and YouTube. The project intends to remaster music videos from the 1990s to the 2010s. It also plans to showcase the history of K-pop to international music fans to contribute to the growth of the Korean music industry. Remastered music videos were sequentially released starting from November 4, 2021.

<span class="mw-page-title-main">SM Art Company</span> South Korean company

SM Art Company was a South Korean musical entertainment and production company under SM Entertainment. The company was founded on July 1, 2004, and became a subsidiary of SM during its launching ceremony on May 6, 2008, and facilitates projects for performances, musical planning, and theater management. It was responsible for Xanadu, The Donkey Show, and The Visit's musical production. The company was eventually dissolved on December 31, 2015.

SM Entertainment Japan is the Japanese branch and subsidiary of the South Korean entertainment company SM Entertainment. The company is employed in the sole administration of SM artists in Japan, handles exclusive licensing rights for the sales of albums, digital music, and merchandising, and facilitates the concert marketing for concerts and fan meetings held in Japan. It was established on January 22, 2001, with the Japanese record label Avex and Japanese television production company Yoshimoto Kogyo.

<span class="mw-page-title-main">Lee Sung-soo</span> South Korean business executive

Lee Sung-soo is a South Korean music production director and A&R executive. He is the chief A&R officer of SM Entertainment and CEO of Kreation Music Rights. He was formerly the CEO of SM Entertainment and SM Entertainment USA. Lee began working for SM as early as 1998 as a part-timer and officially joined the agency in 2005 as an A&R representative, before later becoming head of the production division.

SM 3.0 is the latest business strategy and development plan of the South Korean entertainment company SM Entertainment. Announced in February 2023, it would focus on integrating various aspects of the company's operations, including music production, content creation, and global distribution, into a cohesive system. The plan would aim to expand the company's market presence and enhance its offerings to provide a more comprehensive experience for fans. The implementation of SM 3.0 would involve the development of an intellectual property (IP), business, overseas, and investment system, as well as a multi-production center and label system. These systems were designed to support the company's efforts to optimize its operations and increase its competitiveness in the entertainment industry, particularly in terms of producing content and expanding its market reach.

<span class="mw-page-title-main">Studio Realive</span> South Korean metaverse content production company

Studio Realive is a South Korean metaverse content production company established by SM Entertainment. It specializes in post-production, VFX production, virtual human, VR production, music video studio, and virtual studio. The company was formed to differentiate metaverse content based on the culture technology SM has accumulated. It has established a joint venture with AmazeVR to form Studio A and has recently acquired Studio Clon.

<i>I Like the Way</i> (EP) 2024 EP by Kim Woojin

I Like the Way is the third EP by South Korean singer Kim Woojin, released on April 22, 2024 by Kustomade and distributed by Stone Music Entertainment and Genie Music. The EP consists of five tracks, including the lead single of the same name.

References

  1. ↑ Hong, Yoo (May 26, 2024). "[Herald Interview] SM subsidiary KMR aims to broaden K-pop spectrum". The Korea Herald . Retrieved August 24, 2024.
  2. ↑ Dalugdug, Mandy (August 10, 2023). "SM Entertainment to Launch Music Publishing Subsidiary, Kreation Music Rights". Music Business Worldwide . Archived from the original on February 12, 2024. Retrieved April 5, 2024.
  3. 1 2 3 4 Dalugdug, Mandy (March 11, 2024). "SM Entertainment Beefs Up Publishing Arm Kreation Music Rights With New Signings, Acquisitions". Music Business Worldwide . Archived from the original on March 11, 2024. Retrieved April 7, 2024.
  4. ↑ Lee, Ji-hye (August 22, 2023). 이성수, A&R경력 앞세워 음악 퍼블리싱 자회사 지휘 [Lee Sung-soo, with his A&R experience, leads a music publishing subsidiary]. The Bell (in Korean). Retrieved August 22, 2023.
  5. ↑ Lee, Ji-hye (August 7, 2023). 이성수 전 대표, SM엔터 음악 자회사 '대표'로 복귀 [Former CEO Lee Sung-soo returns as CEO to SM Entertainment's music subsidiary]. The Bell (in Korean). Archived from the original on April 9, 2024. Retrieved April 30, 2024.
  6. ↑ Kim, Ju-yeon (February 16, 2024). "SM Entertainment scouting global producers and songwriters through subsidiary KMR". Korea JoongAng Daily . Archived from the original on March 25, 2024. Retrieved April 7, 2024.
  7. ↑ Robinson, Kristin (March 8, 2024). "SM Entertainment Plans to Push Publishing Business Into North America, Europe". Billboard . Archived from the original on April 8, 2024. Retrieved April 7, 2024.
  8. ↑ Lee, Ji-hye (February 19, 2024). KMR, 음악 퍼블리싱+레이블까지 '존재감 부각' [KMR, music publishing + label 'highlights presence']. The Bell (in Korean). Retrieved April 30, 2024.
  9. 1 2 3 Kim, Ju-yeon (March 25, 2024). "Former Stray Kids member Kim Woo-jin to drop new music under Kustomade label". Korea JoongAng Daily . Archived from the original on March 25, 2024. Retrieved April 30, 2024.
  10. 1 2 Choi, Jae-seo (March 18, 2024). SM 자회사, 프로듀싱 레이블 '커스터메이드' 출범 [SM subsidiary launches production label 'Kustomade']. Yonhap News Agency (in Korean). Retrieved April 30, 2024– via Naver.
  11. ↑ Kang, Yeo-ul (March 12, 2024). 동아방송예술대-KMR, K-pop 신인 작가 발굴 위한 업무협약 체결 [Dong-ah Institute of Media and Arts and KMR sign business agreement to discover new K-pop artists]. Chosun Edu (in Korean). Retrieved April 30, 2024.
  12. ↑ Lee, Tae-hee (August 8, 2024). "SM Entertainment's KMR partners with Howon University to nurture future music talent". Korea JoongAng Daily . Retrieved August 24, 2024.
  13. ↑ Ha, Ji-eun (September 10, 2024). 강타 "SM 3.0 엔진은 퍼블리싱 자회사" [KIW 2024] [Kangta: "SM 3.0's engine is a publishing subsidiary" [KIW 2024]]. Korea Economic Daily (in Korean). Retrieved October 3, 2024– via Naver.
  14. ↑ Ko, Seung-hee (April 4, 2024). 이성수 SM CAO "'촉이 왔다'는 말 경계... K-팝 엔진 역할할 것" [인터뷰][K-컬처 위닝스토리] [Lee Sung-soo, SM CAO "Beware of saying 'I've got a feeling'... It will serve as a K-pop engine" [Interview] [K-Culture Winning Story]]. Herald Economy (in Korean). Retrieved April 7, 2024– via Naver.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.