SEOUL, South Korea, Feb. 1, 2024 /PRNewswire/ -- Kakao Entertainment announces that its co-CEO nominee Joseph Chang has been recognized on the 'Billboard 2024 Power 100 List'.

Joseph Chang, a co-CEO nominee of Kakao Entertainment

Joseph Chang ranked 17 on the multi-sector category of the 'Billboard 2024 Power 100 List' released by Billboard on the 31^st (PST). The Billboard 2024 Power 100 list involves the annual selection of figures who have significant influence in the global music industry by each category such as labels and multi-sectors. The achievement signifies the performance and influence of the newly appointed CEO in the global entertainment landscape. In recent years, he had also been selected for Billboard's International Power Players list, a recognition of top leaders in the music industry outside of the United States, and Gold House's A100 list, an acknowledgment that honors 100 Asian and Pacific Island leaders who made the greatest impact on American culture and society.

Billboard has noted that Chang, the co-CEO nominee, is actively promoting the exchange of K-content within the global entertainment industry, creating new growth momentum for K-pop in the global market. In particular, they highlighted Kakao Entertainment's comprehensive music business strategy, which includes planning, production, distribution, and investment, primarily focusing on North America, as a major achievement in penetrating the global market. Additionally, they introduced that Kakao Entertainment is expanding the reach of K-pop not only in North America but also in the European market and globally through the production of a TV series featuring a UK boy band in partnership with the British production company Moon&Back. 

In addition to his role as the GSO(Global Strategy Officer) of Kakao Entertainment, Chang has been also serving as the CBO(Chief Business Officer) of SM Entertainment and played a pivotal role in enhancing the competitive edge of the whole business including music at Kakao Entertainment in global markets. His extensive experience in global business and a strong alliance with major partners in music and media industries, which have tremendous influence worldwide, have enabled Kakao Entertainment to establish the foundation for solidifying its position as a key player in the global entertainment industry. With the North American integrated corporation playing a central role, substantial results have been achieved through establishing a systematic management system that can support artist album releases, concerts, and media appearances and collaborating with global experts to strengthen the artists' global activities and focus on investing in new IPs. In addition, synergies created by music, story, and media business opened up an opportunity for Kakao Entertainment to lay the groundwork for strong growth in markets around the world.

Kakao Entertainment forged partnerships with leading companies in the entertainment industry such as Columbia Records and RCA Records, labels owned by Sony Music Entertainment, and the British production company Moon&Back, as part of its bid to accelerate the drive for the diversification of its K-pop-related intellectual property and the expansion of its global business. These partnerships paved the way for IVE to enter global markets and North America, in particular. Starting with Korea in October 2023, IVE has been on a world tour spanning across 27 cities in 19 countries, further solidifying their position as a globally recognized artist. RIIZE, who debuted last year, signed a deal with RCA for global album releases before their official debut. This unprecedented deal demonstrated new methods of K-pop artists entering the global entertainment scene. As proof, the boy band has received tremendous attention in markets globally, such as being selected as an artist worth noting by GRAMMY.com and Apple Music.

"We will continue to expand and collaborate with various business partners and artists to help mainstream K-content including K-Pop to help solidify its position in the global entertainment industry," said Chang, "We will also strengthen our influence as an entertainment company by creating global synergies connecting our music, story, and media business."

Source: Kakao Entertainment Corp. Related Stocks: Korea:035720 Korea:035720.KS