CJ ENM Co., South Korea’s largest entertainment company, has formed a music joint venture with Hakuhodo Inc., a more than century-old Japanese advertising and public relations company, to explore new business models aimed at a broader global audience.
The company announced on Tuesday that the new venture, dubbed Chapter-I, will leverage CJ ENM’s content production expertise and Hakuhodo’s marketing know-how to build intellectual properties tailored to global music demand.
The partners plan to expand into global music ventures spanning content development, digital marketing, artist management, concert production and merchandise.
Their first joint project will be Hip Hop Princess, a spin-off of Mnet’s popular audition series, Unpretty Rapstar.
The program, set to premiere in October, will feature Korean and Japanese artists competing for a breakout rapper spot.
MULTIPLE GLOBAL PARTNERSHIPS
The partnership with Hakuhodo adds to CJ ENM’s global music push, centering around the so-called music creative eco-system, its proprietary music IP system.
Earlier this year, the Seoul-based entertainment giant unveiled its 2025 global music business roadmap built around three key pillars – global label, global content and global platforms – to strengthen its position in the global music industry.
It includes the launch of a new global label within this year, which can repeat the success of WAKEONE and Japan’s LAPONE Entertainment.
Unpretty Rapstar: HIP POP Princess is also one of the global series the company has planned to introduce this year, targeting broader audiences around the world beyond K-pop.
As the host of KCON, a K-pop fan and artist festival, and the MAMA Awards, a globally recognized K-pop music awards ceremony, it will promote active fan communication through the digital platform, Mnet Plus.
Founded in 1895, Tokyo-based Hakuhodo is a marketing arm of Hakuhodo DY Holdings Inc., one of the world’s 10 largest advertising groups by revenue, with offices in about 20 countries and more than 10,000 employees.
By Sookyung Seo
skseo@hankyung.com
Jennifer Nicholson-Breen edited this article.
