Native name 주식회사 KMP 홀딩스 Founded 18 March 2010 Defunct November 2012 | Successor KT Music Parent organization KT Music | |
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Fate Acquired by KT Music in 2012, then merged into it in 2013 | ||
KMP Holdings (acronym for "Korean Music Power") (Hangul: KMP홀딩스) is a South Korean music distribution company. It is headquartered in Gangnam-gu, Seoul and was opened on March 18, 2010.
Contents
History
In March 2010, KMP Holdings was established via a joint venture between S.M., YG, JYP, Star Empire, and other companies like Media Line, CAN Entertainment and Music Factory Entertainment. KMP is the official distributor of releases from these companies (KMP stands for Korean Music Power). Its chief executive officer is songwriter-producer Kim Chang-whan, representative of Media Line.
KMP Holdings encompasses many fields including: music service, digital music distribution, and TV program production. It is a service platform that works to provide a more reasonable digital music system. Many believe this is held to challenge the duopoly on music distribution by Mnet Media and LOEN Entertainment.
KT Music, the music contents arm of KT Corporation, eventually acquired KMP in November 2012, and in mid-June 2013, it absorbed KMP's distribution network.
Awards
On the 2nd Gaon Chart K-Pop Awards last February 2, 2013, KMP Holdings was awarded as the "Best Music Distribution Company (Offline Music)".