Kakao M Confirms Partnerships With Acting And Advertisement Agencies
Kakao M has officially formed partnerships with entertainment agencies.
On June 27, Kakao M shared an update following reports the day before that it was in talks to acquire entertainment agencies. Kakao M stated, “We signed a contract with BH Entertainment to acquire a portion of its shares and are in the process of establishing a partnership with Management SOOP. We also signed a contract to acquire a portion of shares of J,WIDE-Company and Ready Entertainment.”
Kakao M made strategic investments and created partnerships with three actor management agencies BH Entertainment, J,WIDE-Company, Management SOOP, and Korea’s leading advertisement model casting agency Ready Entertainment in order to globalize its content. It’s reported that Kakao has gained a competitive advantage by securing many famous actors.
BH Entertainment currently houses actors including Lee Byung Hun, Go Soo, Han Ji Min, Han Ga In, Chu Ja Hyun, Yu Xiaoguang, Yoo Ji Tae, Kim Go Eun, Park Hae Soo, Lee Ji Ah, Jang Young Nam, Lee Hee Joon, Jin Goo, Park Sung Hoon, Gong Seung Yeon, Byun Woo Suk, Karata Erika, and Sean Richard.
Management SOOP represents many actors such as Gong Yoo, Jeon Do Yeon, Gong Hyo Jin, Jung Yoo Mi, Nam Ji Hyun, Seo Hyun Jin, Kim Jae Wook, Lee Chun Hee, Yoo Min Kyu, Lee Jae Joon, Jung Ga Ram, and Jeon So Ni.
Kakao M is expected to play an influential role in forming a value chain across all sectors of the visual entertainment industry after its acquisition of actors who are popular at home and abroad. Through advertisement model casting agency Ready Entertainment’s Chinese subsidiary and its global network, Kakao M will also seek different ways to expand its influence.
Kakao will complete its production system and expand its value chain by targeting the global contents market through its acquired Super IP (intellectual property rights) and recruitment of famous writers and directors. The company is expected to make a strong impact on the entire visual entertainment industry.
Actors belonging to BH Entertainment, J,WIDE-Company, and Management SOOP have been consistently active and in-demand in Korea and overseas.
With the combination of the company’s new venture and existing subsidiaries Fave Entertainment, Cre.Ker Entertainment, Starship Entertainment, King Kong by Starship, Plan A Entertainment, Munhwain, and Nylon Korea, it is expected to have widespread influence across the Korean culture industry. Video contents company Nylon Korea will also strengthen its celebrity content and collaborate with Daum to increase its digital media power.
Kakao M CEO Lee Jae Wook said, “Kakao M will maximize profits by completing the value chain that consists of actors, production, and advertisement, and will quickly become the No. 1 K-Contents company. We plan to strengthen our synergy with our partner companies and start IPO [initial public offering].”
Kakao M also currently operates a video production business after running the mobile video production company Krispy Studio since last January and co-investing in the drama production company Mega Monster with Studio Dragon last May. It has also planned and produced various trendy on and offline content about beauty and fashion after it acquired Nylon Korea.