Taking the next step into the future of the music industry, CJ E&M decided to incorporate the label system, bringing in CJ Music, Jellyfish Entertainment, Music Works, MMO (Music Makes One), and 1877 under its wings.
“The core focus of the label system is to strengthen the companies through the steadiness of investments. We decided that it would be hard to prepare for global competition with just simple monetary investments,” said CJ E&M on March 18. “For a steady music industry, we’ll continue the existing investments, but we’ll be creating a co-existing system in which we can take responsibility in production, distribution, marketing, and furthermore, global advancement with a label system.”
CJ E&M plans on expanding with companies that focus hip-hop, rock, and indie bands, as well as genres that focus on live performances and vocals.
CJ E&M’s new partners, CJ Music, Jellyfish Entertainment, Music Words, MMO, and 1877 holds artists such as Roy Kim, Son Ho Young, Jung Joon Young, VIXX, Sung Si Kyung, Park Hyo Shin, Seo In Guk, Yu Sung Eun, Baek Ji Young, Hong Dae Kwang, and more.
CJ E&M has plans to reach out to labels in and outside of Korea and plans on parntering up with 6 to 8 labels within 2014.