LOEN Entertainment
 | |
| Native name | 주식회사 로엔 엔터테인먼트 |
|---|---|
| Romanized name | Jusikhoesa Loen Enteoteinmeonteu |
| Type | Public |
| Traded as |
KRX: 016170 KOSDAQ Premier Component KOSDAQ 100 Component |
| Industry | Music & Entertainment |
| Genre |
K-pop Rock Contemporary R&B Jazz Classical Contemporary Christian music Traditional music[1] |
| Founded |
Seoul, South Korea (as Seoul Records)[1] (October 1978 - incorporation) (July 7, 1982 - foundation) |
| Founder(s) | Min Yeong-bin |
| Headquarters | 168-23 Samseong-dong, Gangnam District, Seoul, South Korea |
| Area served | worldwide |
| Key people |
Shin Won-soo (CEO) Jo Yeong-cheol (music production head) |
| Products | Music & Entertainment |
| Services | Music, Entertainment, Distributor |
| Revenue |
 KRW 307 million (2008) |
| Net income |
KRW 12 million (2008) |
| Owner(s) |
Star Invest Holdings Ltd. (61.40%) SK Planet (15.00%)[2] |
| Employees | 173 (as of 2012) |
| Parent |
YBM Group (1978-2005) SK Group (2005-present) Affinity Equity Partners (2013-present)[2] |
| Divisions | See the list here. |
| Subsidiaries | Starship Entertainment[3] |
| Website | http://www.iloen.com/ |
LOEN Entertainment (Hangul: 로엔 엔터테인먼트), formerly Seoul Records (Hangul: 서울 음반), is a South Korean record label. It is headquartered in Gangnam-gu, Seoul.
About the company
| LOEN Entertainment | |
| Hangul | 로엔 엔터테인먼트 |
|---|---|
| Revised Romanization | Loen Enteoteinmeonteu |
| McCune–Reischauer | Rŏen Entʻŏtʻeinmŏntʻŭ |
| Seoul Records | |
| Hangul | 서울 음반 |
| Revised Romanization | Seoul Eumban |
| McCune–Reischauer | Sŏul Umpan |
History
The company was founded as a subsidiary of YBM Sisa, whose main business was creating language learning tapes, in 1978 by Min Yeong-bin.[4] In 1982, the company was officially registered and in 1984 they began distributing and producing classic and traditional music records.
Seoul Records was registered as a venture capital company in 1999 and began to sell albums while also operating an internet shopping site. In 2000, the company changed its name to YBM Seoul Records and began to sell shares on KOSDAQ. The company would then move on to join the International Federation of the Phonographic Industry in 2003. Korean conglomerate SK Telecom bought 60 percent of the company in 2005, making them the company's largest shareholder. YBM Seoul Records also became a part of SK Group as a result.[5] As of 2008, Seoul Records has been known by its current name, LOEN Entertainment.
LOEN was put in charge of operating SK Telecom's online music distribution service, MelOn, in 2009. MelOn is currently the most used online music sales site in South Korea.[6][7]
In 2012, the company signed a deal with crowd-sourced internet television and movie website Viki, to feature music videos, interview clips, concert performances, of their artists such as IU, Brown Eyed Girls and Drunken Tiger.[8]
In August 2012, all the artists signed with LOEN Entertainment were compiled into a special artist group, called LOEN Tree. The group released its first EP, "LOEN Tree Summer Story", on August 2.[9]
In July 18, 2013, Affinity Equity Partners, through its subsidiary Star Invest Holdings Ltd., bought 52.56 percent of LOEN's shares. SK Group now owns only 15 percent after the deal with AEP.[2]
The company was reorganized to include two labels: "LOEN Tree" (Jo Yeong-cheol) and "Collabodadi" (Shinsadong Tiger).[10]
On December 18, 2013, LOEN acquired 70% of shares in Starship Entertainment, making it as an independent subsidiary of LOEN.[3]
Business
Online music sales account for most of the company's profit, with 93.9% of revenue coming from online music sales. The label also distributes CDs of some of the other entertainment agencies in South Korea through its branch LOEN Music, but less than 5% revenue is made from them.[11]
Corporate identity
Company name
The name LOEN stands for:[1]
- Live On Entertainment Networks
- LOve + ENtertainment
Logos
The company's first logo was the two small letters s and r (SR, for Seoul Records) combined. At the bottom of the logo was the English name (SEOUL RECORDS), while the Korean name ((주)서울음반) was at its right corner.[12]
Controversies
2011 price fixing
LOEN, along with parent SK Telecom, was one of the 15 companies fined and sued by the Korean FTC for price rigging in 2011. The company was slapped with a $9.6 million fine for its role in the scheme.[13]
Incredible promotion conflict
C-JeS Entertainment and LOEN agreed for a deal in the promotion and distribution of Junsu's second studio album Incredible.
But days before the album's release, C-JeS received a message from LOEN: "We will distribute XIA (Junsu)'s album online and offline, but we have decided to scrap the plans for promotional marketing... This is the decision coming from within (from) the executives, so we ask for your understanding. For the showcase inviting MelOn customers, we will broadcast live through LOEN TV, but we will not be able to show it through MelOn." Promotional banners regarding Junsu's new release on MelOn after his pre-release 11am on the 2nd also disappeared from LOEN's social media accounts.
As a result, C-JeS threatened to leave LOEN's name completely out of the upcoming showcase as well as to file for a civil appeal to the Fair Trade Commission and Anti-Corruption and Civil Rights Commission.[14]
LOEN's response and C-JeS' answer
LOEN responded, "Right now, we're still in the stages of discussing the terms of Junsu's album promotion contracts. We haven't signed the contract, and there's nothing confirmed. Since there's nothing confirmed, we can't reveal the details. But one thing that is definite is that the article was released before anything was fully decided." They added, "Junsu's label said that we closed all the events, but they're still all going on. During the contract signing stages, opinions can go back and forth all the time during the negotiation process. We could have talked this out, and we're shocked that they said we broke the contract. If it's like C-JeS said, Junsu's showcase event page on MelOn's homepage should have been taken down, but it's still open and functioning normally. We're also going to reveal the chosen fans to attend the showcase on the 11th, as scheduled".
However, C-JeS Entertainment responded, "We sent our statement after receiving the sudden news 6 days before the showcase. We also told them that if they did not answer, we'd be spreading this to the media. But we had no answer. LOEN Entertainment says that we were still in the stages of negotiating and that we hadn't signed the contract, but we started the pre-orders and even started receiving entries for the showcase event. If we didn't have the contract, shouldn't none of this happened?" They added, "Junsu is busy with international CF filming and his Thailand schedule. The reason he planned this showcase is because he wanted to show himself to the public. Since he can't come out freely on broadcast, we prepared a free showcase to show his stage through MelOn TV. Since the label is paying for the showcase, if MelOn TV will not air it, there's no reason to just have this exclusively for MelOn customers. We've currently asked LOEN Entertainment to answer until the afternoon of the 9th (KST). If this doesn't get fixed, the label will invite the fans, and the event will be canceled."[15]
Aftermath
After C-JeS lashed out and brought media attention, LOEN held a meeting to discuss the matter and the two companies have worked out their differences to reach an understanding.
C-JeS Entertainment stated on July 9, "The dispute with LOEN Entertainment which occurred yesterday (July 8) has now been smoothly resolved. Last night, we met with the LOEN representative and received the official word that they'll carry out all of XIA's promotional activities as previously discussed. XIA's showcase, which many fans have been waiting for all this time, will be live-streamed through MelOn TV. Also, the online promotions for XIA's 2nd full-length album have been confirmed so we will be able to distribute his music and performances for fans of XIA's music.
We sincerely thank the various media outlets for taking interest in the affairs of our agency and the public for showing their support. XIA will return the love and support with the release of his 2nd album on the 15th and an Asia tour and more."[16]
Incredible was released on July 15, 2013, distributed by LOEN.
Divisions[17]
MelOn Biz
It refers to MelOn, the online music service (OMS) operated by LOEN. The name MelOn stands for "melody on".[18]
MelOn is the most popular OMS in South Korea with 59 percent (2.3 million) of all OMS users as of November 2013.
Soompi ranked MelOn as the 3rd most influential entity in the K-pop industry.[19]
Contents Biz
Also known as LOEN Music, it is the content production arm of LOEN, responsible for assisting agencies with album production - whether that be cash investment, CD production, album distribution and anything else required to get an album from the recording booth on to the shelves.
According to LOEN, "it distributes over 300 titles per year and works with capable agencies to discover good albums and invest in the production of music content.”
Artist Biz
This is LOEN's internal artist management arm, also known as LOEN Artist. It has two sub-divisions, LOEN Tree and Collabodadi.
Starship Entertainment now also belongs to this division.
Awards
| Year | Recipient | Award | Category | Result |
|---|---|---|---|---|
| 2011 | MelOn | Digital Chosun Ilbo Awards | Most Trusted Brand (Online Music Service) | Won |
| App Awards Korea | Best Entertainment Application | Won | ||
| 2012 | Digital Chosun Ilbo Awards | Most Trusted Brand (Online Music Service) | Won | |
| LOEN Entertainment | Korean Digital Business Innovation Awards | Grand Prize (Digital Contents) | Won | |
| 2013 | Gaon Chart K-Pop Awards | Music Distribution (Online) | Won[20] | |
Artist Management
LOEN Tree
Singers
Actors
- Kim Suk-hoon
- Jo Han-sun[21]
- Lee Jung-hyuk[22]
- Kang Bok-eum[23]
Producers
- Won Taeyeon
- G.Gorilla
- Lee Minsoo
- Hwang Sooah
- Ra.D
- KZ
Lyricists
- Kim Yi-na
- G.Gorilla
- Lee Minsoo
- Ra.D
Collabodadi Label
Singers
Lyricist / Producer
Trainees
- Yoon Hyun-sang (K-pop Star - 7th Place)
- Shin Ji-soo (Superstar K3 - 6th Place)
- Park So-yeon (K-pop Star 2 - part of YouU, 7th-8th Place)
- Phanity1 (Vann-Lee-Im-nayoung)
Former Artists
Singers
- Run (런)
- Gain (가인)
Trainees
- Park Sang-hyun (Cheondung (천둥) of MBLAQ) (now under J. Tune Camp)
- Kim Boa (Spica) (now under B2M Entertainment)
- Park Juhyun (Spica) (now under B2M Entertainment)
- Cho Hyung Woo (now under Apop Entertainment)
See also
- List of LOEN Entertainment labels
- MelOn Music Awards, an awarding event organized by the company.
- SK Group
References
- ↑ 1.0 1.1 1.2 "About the Company". LOEN Entertainment. 2008. Retrieved 2010-08-25.
- ↑ 2.0 2.1 2.2 Private Equity Korea: SK Planet to divest stake in LOEN Entertainment to Affinity
- ↑ 3.0 3.1 alim17 (December 18, 2013). "Loen Entertainment takes over majority stake in Starship Entertainment for 15 billion won". allkpop. Retrieved December 19, 2013.
- ↑ "1978 - Founding of "Seoul Records"". YBM Group.
- ↑ "Korean Telco Takes Control Of Seoul Records". Billboard (Prometheus Global Media). May 27, 2005. Retrieved August 16, 2013.
- ↑ ""LOEN versus KT Music": Music cataclysm". Chosun Biz (Chosun Ilbo). 2013-05-13. Retrieved 2013-11-13.
- ↑ "Video Subtitling Site Viki Puts K-Pop Content in Spotlight". The Chosun Ilbo. 25 May 2012. Retrieved 30 May 2012.
- ↑ LOEN Tree Summer Story on Hanteo
- ↑ starsung (September 24, 2013). "LOEN Entertainment undergoes reorganization to become a multi-label system". allkpop. Retrieved September 24, 2013.
- ↑ "SKT, 국내최대 서울음반 인수". Kyunghyang Shinmun. 2005-05-27. Retrieved 2010-08-25.
- ↑ "CD의 추억3 - old OSTs (1)". bluo.net.
- ↑ "Korea's Fair Trade Commission fines 15 music distributors for collectively rigging prices". allkpop. March 1, 2011. Retrieved July 24, 2013.
- ↑ serendipity (July 9, 2013). "C-JeS lashes out at Loen for changing their terms regarding Junsu's upcoming showcase and promotions". allkpop. Retrieved November 21, 2013.
- ↑ serendipity (July 9, 2013). "LOEN Entertainment responds to C-JeS' lashing out, C-JeS answers back". allkpop. Retrieved November 21, 2013.
- ↑ starsung (July 9, 2013). "C-JeS and LOEN Entertainment resolve their dispute concerning Junsu's showcase and promotions". allkpop. Retrieved November 21, 2013.
- ↑ lordbordem (September 25, 2013). "LOEN Entertainment to Split Their Artist Division into Multiple Labels". Soompi. Retrieved November 13, 2013.
- ↑ Seung Si-yeon, Park Jong-geun (December 3, 2011). "Shin Won-soo, representing Korea's largest OMS, "MelOn"". JoongAng Ilbo. Retrieved December 13, 2013.
- ↑ jun2yng (November 3, 2013). "The Top 10 Most Influential Entities of K-Pop". Soompi. Retrieved November 16, 2013.
- ↑ jnkm (February 13, 2013). "Winners & Best Moments of the 2nd Gaon Chart K-Pop Awards". Soompi. Retrieved September 28, 2013.
- ↑ Suk, Monica (28 February 2012). "Jo Han-sun, Kim Suk Hoon join IU's agency". 10Asia. Retrieved 2012-05-07.
- ↑ "Lee Jung Hyuk's Profile". LOEN Website. Retrieved 27 Ocotor 2012.
- ↑ "Kang Bok-eum's Profile". Nate. Retrieved 29 October 2013.
External links
- Official website (Korean) (English)
- LOEN Entertainment on Facebook
- LOEN Entertainment on Twitter
- LOEN Entertainment's channel on YouTube
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