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CJ ENM Co., South Korea\u2019s largest entertainment company, has formed a music joint venture with Hakuhodo Inc., a more than century-old Japanese advertising and public relations company, to explore new business models aimed at a broader global audience. <\/p>\n
The company announced on Tuesday that the new venture, dubbed Chapter-I, will leverage CJ ENM\u2019s content production expertise and Hakuhodo\u2019s marketing know-how to build intellectual properties tailored to global music demand. <\/p>\n
The partners plan to expand into global music ventures spanning content development, digital marketing, artist management, concert production and merchandise.<\/p>\n
Their first joint project will be Hip Hop Princess, a spin-off of Mnet\u2019s popular audition series, Unpretty Rapstar. <\/p>\n
The program, set to premiere in October, will feature Korean and Japanese artists competing for a breakout rapper spot.<\/p>\n
\u00a0MULTIPLE GLOBAL PARTNERSHIPS<\/strong> <\/p>\n The partnership with Hakuhodo adds to CJ ENM\u2019s global music push, centering around the so-called music creative eco-system, its proprietary music IP system. <\/p>\n Earlier this year, the Seoul-based entertainment giant unveiled its 2025 global music business road map built around three key pillars \u2014 global label, global content and global platforms \u2014 to strengthen its position in the global music industry. <\/p>\n It includes the launch of a new global label within this year, which can repeat the success of WAKEONE and Japan\u2019s LAPONE Entertainment. <\/p>\n Unpretty Rapstar: HIP POP Princess is another of the global series the company plans to launch this year as it targets broader audiences worldwide beyond K-pop.<\/p>\n As the host of KCON, a K-pop fan and artist festival, and the MAMA Awards, a globally recognized K-pop music awards ceremony, it will promote active fan communication through the Mnet Plus digital platform. <\/p>\n Tokyo-based Hakuhodo is a marketing arm of Hakuhodo DY Holdings Inc., one of the world\u2019s 10 biggest advertising groups by revenue, with offices in about 20 countries and more than 10,000 employees.<\/p>\n