The Boyz and IU Set for Tours, While IVE Heads for Lollapalooza Chicago as Kakao Entertainment Seeks Bigger Role in K-Pop
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variety.comPatrick Frater Asia Bureau Chief A year after winning a bitter corporate battle for control of pioneering K-pop agency SM Entertainment, South Korean tech firm Kakao Entertainment says it is accelerating its expansion in music.
Kakao already has a controlling stake in Melon, Korea’s leading subscription-based music streamer. It defeated BTS-backer Hybe Corp.
in the first half of last year in a fight for control of SM Entertainment that was kicked off by SM founder Lee Soo-man’s decision to sell his share stake.
In the first half of 2024, the company concentrated on the world tours of various artists under its labels to expand its fans worldwide and will seek to expand its so-called multi-label system.
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