K-pop executives recognized on Billboard’s 2024 International Power Players List
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Several executives of the K-pop companies SM Entertainment, Kakao Entertainment and Hybe have been recognized on Billboard’s 2024 International Power Players List.
This annual list complied by Billboard names executives who made remarkable business achievements outside the US and contributed to the growth of the global music record industry.
Joseph Chang, Co-CEO of Kakao Entertainment, Co-CEOs of SM Entertainment Jang Cheol-hyuk and Tak Young-jun, and SM Chief A&R officer Lee Sung-su made it to the list with the merger of the American branches of Kakao Entertainment and SM Entertainment.
The joint venture also broadened its reach to Europe by partnering with British production company Moon&Back to launch a K-pop boy group consisting of British members in the UK.
SM and Moon&Back plan to make a six-episode TV series about the group's creation.
Kakao Entertainment sublabel Starship Entertainment also successfully launched K-pop girl group IVE’s first world tour, which included six US arena shows in March this year.
Park Ji-won, CEO of Hybe, President of Big Hit Music Shin Young-jae, Master Professional of Pledis Entertainment Han Sung-soo, and General Manager of Hybe 360 Oh Yoo-jin were also recognized as international power players for Hybe’s diversification by acquiring Atlanta-based entertainment company Quality Control and Latin music company Exile Music.
Such mergers and acquisitions helped Hybe become the first K-pop agency to surpass 2 trillion won ($1.5 billion) in revenue in 2023.
The K-pop giant’s artists, including Jungkook, Jimin and Seventeen, contributed to its growth with their hit singles, albums and concerts.
By Hong Yoo(yoohong@heraldcorp.com)
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