 | |
| Company type | Subsidiary |
|---|---|
| Industry | Music |
| Predecessor | SM Friends |
| Founded | September 2023 |
| Headquarters | South Korea |
Key people | Lee Sung-soo (CEO) |
| Services | Music publishing |
| Parent | SM Entertainment |
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 April 2024, KMR has recruited around 100 songwriters, making it the largest company of its kind in the K-pop industry. [1]
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 a business agreement with the Dong-ah Institute of Media and Arts to foster new talent in the field of K-pop production. [11]
Company-in-company
Production labels
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.
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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.
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