At a board meeting held on December 20, Loen Entertainment CEO Park Sung Hoon announced that the company will change its name to kakao M.
The reasoning behind the company’s name change is to strengthen its branding as a comprehensive content company and to enhance its brand value while increasing the impact of Kakao in order to expand its contents business in the future.
The M in “kakao M” stands for music, Melon, and media, and kakao M will be joining Kakao’s One Brand. The company will maintain the essentials of a music company while working to expand its comprehensive media brand.
Along with its name change, kakao M also established the new slogan “We Entertain” to set the direction of its new brand. As the No.1 company in the industry with a large platform, kakao M hopes to lead in the development of new genres and evolution of preferences. It has its sights set on creating everything related to music, connecting anyone anywhere through Melon, and expanding its media contents.
The official name change will be confirmed at the general shareholders’ meeting in March of 2018, and the company plans to complete changing its name on its websites and official channels.
Park Jung Hoon stated, “Two years after joining the Kakao family, Loen Entertainment became a strong player in the exiting music market representing K-Culture. Based on the value of ‘We Entertain,’ kakao M will evolve in various areas to entertain people at home and abroad.”