Kreation Music Rights Explained

Kreation Music Rights
Type:Subsidiary
Industry:Music
Predecessor:SM Friends
Hq Location Country:South Korea
Key People:Lee Sung-soo (CEO)
Services:Music publishing
Parent:SM Entertainment

Kreation Music Rights is a South Korean music publishing company and a subsidiary of SM Entertainment. It was launched in 2023 as part of the company's SM 3.0 strategy. As of April 2024, KMR has recruited around 100 songwriters, making it the largest company of its kind in the K-pop industry.[1]

History

In August 2023, SM Entertainment CEO Jang Cheol-hyuk announced plans during an investor presentation to launch a new music publishing company called Kreation Music Rights (KMR), as part of the SM 3.0 strategy. SM converted the existing SM Friends subsidiary into a music publishing label to support SM's newly established multi-production center system, providing a wider pool of songs for artists. It was also intended to provide an additional revenue stream for the company, enabling the internalization of royalties and music sales to other companies.[2] KMR was launched in September 2023,[3] with investment of 27.1 billion won.[4] Lee Sung-soo, SM's chief A&R officer and longtime head of production, was appointed CEO.[5]

KMR established a European office in Stockholm in December 2023. Writers signed to the company include Norwegian songwriting team Dsign Music, responsible for songs such as Girls' Generation's "Genie", NCT Dream's "ISTJ" and Taemin's "Want", and Sweden-based duo Sunshine, responsible for Red Velvet's "Psycho" and Aespa's "Spicy". KMR also acquired the South Korean production teams MonoTree and The Hub, joining the Kangta-led Smash Hit as CICs (company-in-company). It has plans to establish a North American subsidiary and form additional partnerships with local companies.[6] [7] KMR attracted controversy over its acquisition of The Hub and entertainment company 10x Entertainment, with allegations that it overpaid for the two companies. SM refuted this, explaining that The Hub showed rapid sales growth and 10x was part of its plan to establish a label.[8] In March 2024, KMR launched the production label Kustomade, representing former Stray Kids member Kim Woo-jin and Yelo, a member of MonoTree.[9] [10] It signed a business agreement with the Dong-ah Institute of Media and Arts to foster new talent in the field of K-pop production.[11]

Labels

Company-in-company

Production labels

Notes and References

  1. Web site: https://n.news.naver.com/mnews/article/016/0002290806?sid=103. ko:이성수 SM CAO "'촉이 왔다'는 말 경계... K-팝 엔진 역할할 것" [인터뷰] [K-컬처 위닝스토리]. Lee Sung-soo, SM CAO "Beware of saying 'I've got a feeling'... It will serve as a K-pop engine" [Interview] [K-Culture Winning Story]. Herald Economy. Naver. Ko. Seung-hee. April 4, 2024. April 7, 2024. ko.
  2. Web site: SM Entertainment to Launch Music Publishing Subsidiary, Kreation Music Rights. Music Business Worldwide. Dalugdug. Mandy. August 10, 2023. April 5, 2024. February 12, 2024. https://web.archive.org/web/20240212104040/https://www.musicbusinessworldwide.com/sm-entertainment-to-launch-music-publishing-subsidiary-kreation-music-rights/. live.
  3. Web site: SM Entertainment Beefs Up Publishing Arm Kreation Music Rights With New Signings, Acquisitions. Music Business Worldwide. Dalugdug. Mandy. March 11, 2024. April 7, 2024. March 11, 2024. https://web.archive.org/web/20240311200949/https://www.musicbusinessworldwide.com/sm-entertainment-beefs-up-publishing-arm-kreation-music-rights-with-new-signings-acquisitions/. live.
  4. Web site: http://www.thebell.co.kr/free/content/ArticleView.asp?key=202308180633152960101690&lcode=00. ko:이성수, A&R경력 앞세워 음악 퍼블리싱 자회사 지휘. Lee Sung-soo, with his A&R experience, leads a music publishing subsidiary. The Bell. Lee. Ji-hye. August 22, 2023. August 22, 2023. ko.
  5. Web site: https://www.thebell.co.kr/free/content/ArticleView.asp?key=202308030912227040103265. ko:이성수 전 대표, SM엔터 음악 자회사 '대표'로 복귀. Former CEO Lee Sung-soo returns as CEO to SM Entertainment's music subsidiary. The Bell. Lee. Ji-hye. August 7, 2023. April 30, 2024. ko. April 9, 2024. https://web.archive.org/web/20240409210527/https://www.thebell.co.kr/free/content/ArticleView.asp?key=202308030912227040103265. live.
  6. Web site: SM Entertainment scouting global producers and songwriters through subsidiary KMR. Korea JoongAng Daily. Kim. Ju-yeon. February 16, 2024. April 7, 2024. March 25, 2024. https://web.archive.org/web/20240325150047/https://koreajoongangdaily.joins.com/news/2024-02-16/entertainment/kpop/SM-Entertainment-scouting-global-producers-and-songwriters-through-subsidiary-KMR/1982769. live.
  7. Web site: SM Entertainment Plans to Push Publishing Business Into North America, Europe. Billboard. Robinson. Kristin. March 8, 2024. April 7, 2024. April 8, 2024. https://web.archive.org/web/20240408210717/https://www.billboard.com/business/publishing/sm-entertainment-expand-publishing-company-europe-north-america-1235628317/. live.
  8. Web site: https://www.thebell.co.kr/free/content/ArticleView.asp?key=202402161650201360102040. ko:KMR, 음악 퍼블리싱+레이블까지 '존재감 부각'. KMR, music publishing + label 'highlights presence'. The Bell. Lee. Ji-hye. February 19, 2024. April 30, 2024. ko.
  9. Web site: Former Stray Kids member Kim Woo-jin to drop new music under Kustomade label. Korea JoongAng Daily. Kim. Ju-yeon. March 25, 2024. April 30, 2024. March 25, 2024. https://web.archive.org/web/20240325093951/https://koreajoongangdaily.joins.com/news/2024-03-25/entertainment/kpop/Former-Stray-Kids-member-Kim-Woojin-to-drop-new-music-under-Kustomade-label/2010076. live.
  10. Web site: https://m.entertain.naver.com/article/001/0014569789. ko:SM 자회사, 프로듀싱 레이블 '커스터메이드' 출범. SM subsidiary launches production label 'Kustomade'. Yonhap News Agency. Naver. Choi. Jae-seo. March 18, 2024. April 30, 2024. ko.
  11. Web site: https://edu.chosun.com/site/data/html_dir/2024/03/12/2024031280063.html. ko:동아방송예술대-KMR, K-pop 신인 작가 발굴 위한 업무협약 체결. Dong-ah Institute of Media and Arts and KMR sign business agreement to discover new K-pop artists. Chosun Edu. Kang. Yeo-ul. March 12, 2024. April 30, 2024. ko.

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