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Kakao M
Kakao M Corp. (Korean: 카카오M; formerly Seoul Records, YBM Seoul Records and LOEN Entertainment) was a South Korean entertainment company established by Min Yeong-bin in 1978. It was one of the largest co-publisher companies in South Korea. The company operated as a record label, talent agency, music production company, event management, concert production company, and music publishing house.
As of 2015[update], the company was the leading record company in South Korea by net revenue according to the statistics compiled by the Korea Music Content Industry Association (KMCIA) through the Gaon Music Chart (30.4%); it was also the second leading company in terms of album sales (25.4%). LOEN Entertainment became a subsidiary of Kakao in January 2016 and was subsequently renamed two years later.
Online music sales accounted for most of the company's profit, with 93.9% of revenue coming from online music sales. The label also distributed CDs of some other entertainment agencies in South Korea through its branch 1theK, but made less than 5% of its revenue through them.
On March 2, 2021, the company became defunct upon merging into KakaoPage. The merger resulted in the formation of a new company, Kakao Entertainment.
Kakao M was founded as Seoul Records in 1978 by Min Yeong-bin as a subsidiary of YBM Sisa, a company mainly involved in creating language-learning tapes. The company was officially registered in 1982, and in 1984 it began to produce and distribute records of classical and traditional music. It was registered as a venture capital company in 1999 when it began to sell albums while operating an online shop. In 2000, the company's name was changed to YBM Seoul Records and it began to operate on KOSDAQ. The company joined the IFPI in 2003. Korean conglomerate SK Telecom bought a 60% share of the company in 2005, and YBM Seoul Records subsequently became part of SK Group.
As of 2008, the company was known as LOEN Entertainment. LOEN stood for: Live On Entertainment Networks and LOve + ENtertainment
LOEN took charge of SK Telecom's online music distribution service, MelOn, in 2009. MelOn is currently the most used online music sales site in South Korea.
In 2012, the company signed a deal with streaming site Viki so that content from their artists (such as IU, Brown Eyed Girls and Drunken Tiger) would be featured on their site.
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Kakao M
Kakao M Corp. (Korean: 카카오M; formerly Seoul Records, YBM Seoul Records and LOEN Entertainment) was a South Korean entertainment company established by Min Yeong-bin in 1978. It was one of the largest co-publisher companies in South Korea. The company operated as a record label, talent agency, music production company, event management, concert production company, and music publishing house.
As of 2015[update], the company was the leading record company in South Korea by net revenue according to the statistics compiled by the Korea Music Content Industry Association (KMCIA) through the Gaon Music Chart (30.4%); it was also the second leading company in terms of album sales (25.4%). LOEN Entertainment became a subsidiary of Kakao in January 2016 and was subsequently renamed two years later.
Online music sales accounted for most of the company's profit, with 93.9% of revenue coming from online music sales. The label also distributed CDs of some other entertainment agencies in South Korea through its branch 1theK, but made less than 5% of its revenue through them.
On March 2, 2021, the company became defunct upon merging into KakaoPage. The merger resulted in the formation of a new company, Kakao Entertainment.
Kakao M was founded as Seoul Records in 1978 by Min Yeong-bin as a subsidiary of YBM Sisa, a company mainly involved in creating language-learning tapes. The company was officially registered in 1982, and in 1984 it began to produce and distribute records of classical and traditional music. It was registered as a venture capital company in 1999 when it began to sell albums while operating an online shop. In 2000, the company's name was changed to YBM Seoul Records and it began to operate on KOSDAQ. The company joined the IFPI in 2003. Korean conglomerate SK Telecom bought a 60% share of the company in 2005, and YBM Seoul Records subsequently became part of SK Group.
As of 2008, the company was known as LOEN Entertainment. LOEN stood for: Live On Entertainment Networks and LOve + ENtertainment
LOEN took charge of SK Telecom's online music distribution service, MelOn, in 2009. MelOn is currently the most used online music sales site in South Korea.
In 2012, the company signed a deal with streaming site Viki so that content from their artists (such as IU, Brown Eyed Girls and Drunken Tiger) would be featured on their site.