SM Entertainment expands publishing company to Europe and North America

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Creation Music Rights (KMR), a publishing subsidiary of SM Entertainment, announced that it has added 86 songwriters to its roster since the service launched in September. The fast-growing music publisher also announced plans to expand into Europe and North America.

The company said hiring top songwriters from around the world, not just those within SM Entertainment’s network, is a “top priority.” KMR launched a European office in December 2023 and began its global expansion by hiring local talent, including writers who have been working on songs for SM and K-POP artists for many years. Among them are the Norwegian company Dsign Music (Girls’ Generation’s “Genie,” NCT DREAM’s “ISTJ”) and the Swedish-based songwriting duo Sunshine (Red Velvet’s “Psycho,” NCT 127’s “Highway to Heaven”). ”, “Spicy”). by aespa).

As stated in a Thursday (March 7) press release, KMR will next expand into North America, establishing a North American subsidiary and forming additional partnerships with local companies. According to the release, “KMR aims to maximize synergies with SM and quickly secure market dominance in the K-POP market,” while also “leading the way in Asia within the next five years. We aim to become a music publishing company.

KMR also announced the acquisition of two Korean music publishers, Monotree and The Hub, to quickly establish its dominance in the Korean music publishing field. Monotree was founded in 2014 by his 33 songwriters on its roster, including A-list producer/writers Hwang Hyung, Yu Ji Sang (aka G-HIGH), and Lee Joo Hyun. Founded in 2020, The Hub brian yu, has 13 songwriters. According to KMR’s report, the company had an annual sales growth rate of 53% from 2020 to 2023.

According to KMR, the company currently consists of three different teams: MonoTree, The Hub, and SMASH HIT, which operate like a “CIC” (company-in-company) and have so-called “joint ventures.” Similar to “Business”. US market. KMR says it plans to expand the number of CICs through further investments and partnerships in the future.