The combination of Kakao Page and Kakao M means creating a Korean entertainment giant that is about to generate KRW 1 trillion in annual revenue. At a time when the global entertainment industry is facing tough competition due to the appearance of new players in the industry, this strategic merger was decided to give KAKAO ENTERTAINMENT a competitive advantage in the market. This is also the first large-scale merger between the subsidiaries of Kakao Corp., the technology conglomerate behind Korea’s most popular messaging app, Kakao Talk.
The merger of Kakao Page and Kakao M is expected to create a robust synergy effect given the capabilities of the respective companies in the content business and on digital platforms and lay the foundation for KAKAO ENTERTAINMENT’s next growth phase through global expansion.
Through the merger, KAKAO ENTERTAINMENT will have an unparalleled business portfolio and value chain, including 50 subsidiaries and affiliates in all sectors of the entertainment industry. Kakao Page offers a special value chain that is optimized for both the creation of original content and the creation of original content a global platform network, while Kakao M offers expertise in creating music, TV series, films, performances as well a Portfolio of Korea’s best creative talent.
With this foundation, KAKAO ENTERTAINMENT will expand its investments and strategic partnerships with industry leaders to develop into a global entertainment company. In addition to diversifying its business, the company will focus on producing blockbuster media franchises that will captivate global audiences and look for various ways to create synergies between combined assets.
Kakao Page commented: “The merger of Kakao Page and Kakao M is that of a strategic alliance to build a foundation for competition in the global entertainment industry. By combining the two companies’ business acumen, skills and value chain, we aim to disrupt the global entertainment industry. “
Kakao M commented: “The decision to combine our expertise in content and digital platforms was made so that we can seriously compete in the highly competitive global entertainment sector. Together we can accelerate and develop into a global player.”
About Cocoa Page Corp.
Cocoa Page Corp. specializes in creating compelling IPs for stories, mainly in the form of webtoons and web novels. The company pioneered the Korean story entertainment industry in 2014 with an innovative monetization model called “Wait or Pay”. In addition to this growth model, the company’s active investment in 16 subsidiaries and affiliates paved the way for Kakao Page Corp. highest number of original titles in Korea (8,500 IPs). The company operates two digital platforms in Korea, the “Kakaopage” platform of the same name and the world’s first Webtoon platform called “Daum Webtoon”. The company also has widespread global platform networks in Japan, North America, Greater China and ASEAN regions. The original content of Kakao Page Corp. have been converted into various derivative formats such as TV series, movies, games and are popular in too Japan, the world’s largest comic book market, and in North America Regions.
About Kakao M Corp.
Cocoa M Corp. has unrivaled production capacity for content on mobile, TV, screen and live platforms with 7 leading talent management subsidiaries, 4 music labels and various production companies for drama, film and performance. Cocoa M Corp. has a significant market share in the Korean music industry and produces over 1,200 tracks annually. In addition, the company has 80 top creators, 150 celebrities and a large number of star producers in its talent portfolio. Kakao M also runs its own studio recruiting Korea’s most wanted producers and operate a new genre of experimental and fun mobile content.
SOURCE Cocoa Page Corp.