Ericsson Plans SEK 25 Billion Shareholder Returns as Margins Improve Despite Flat Network Market 
Asian Markets Slip as Precious Metals Cool, Geopolitical Tensions Weigh on Sentiment 
Elon Musk Shares Bold Vision for AI, Robots, and Space at Davos 
ByteDance Finalizes Majority U.S.-Owned TikTok Joint Venture to Avert American Ban 
Intel Stock Slides Despite Earnings Beat as Weak Q1 Outlook Raises Concerns 
Baker Hughes Reports 11% Rise in Q4 Adjusted Profit Driven by LNG Demand 
Delta Air Lines Operates Reduced Flight Schedule as Winter Storm Disrupts U.S. Travel 
Japanese Business Leaders Urge Government Action as Weak Yen Strains Economy 
LVMH Succession Uncertainty Raises Governance Concerns Among Shareholders 
U.S. Dollar Slides Toward Biggest Annual Loss Since 2017 as 2026 Risks Loom 
Asian Currencies Trade Flat as Dollar Weakens in Thin New Year Trading 
Exxon Mobil’s XTO Energy Explores Sale of Eagle Ford Shale Assets in South Texas 
Ryanair Profit Slumps in Q3 After Italy Antitrust Fine Despite Revenue Growth 
U.S. Dollar Steadies Ahead of Fed Minutes as Markets Eye Policy Divisions 
Samsung Set to Begin HBM4 Production for Nvidia and AMD 
SEC Drops Gemini Enforcement Case After Full Repayment to Earn Investors 
Trump Delays Tariff Increases on Furniture and Cabinets for One More Year 
Cube Entertainment has partnered with Kakao Entertainment Corp. for music distribution. The talent agency and music production company revealed it has signed an ₩80 billion or $62 million contract with Kakao Corporation’s entertainment, mass media, and publishing wing worth on Wednesday, Dec. 21.
According to Korea Joongang Daily, with the contract between Cube Entertainment and Kakao Entertainment in place, the latter will have exclusive distribution rights to the former’s music content in the next five years.
Kakao Entertainment operates Melon which is considered the largest music service in South Korea thus, the music distribution is very advantageous for Cube Entertainment which houses popular groups, including the 6-member BTOB boy band, 9-member Pentagon, and 5-member (G)I-DLE girl group. Domestically, Melon Music also ranks second in market share after Youtube music.
Currently, (G)I-DLE is the most popular group in Cube Entertainment, and the lead tracks in the two albums that they released this year, titled “Tomboy” and “Nxde” both placed first on major local charts as well as music programs in the country. The songs also topped iTunes in several regions.
"This deal is evidence of the higher value that Cube Entertainment is being assessed at in the market," the entertainment firm’s spokesman stated. "We believe it will not be difficult to pull off the revenue target, as (G)I-DLE has been achieving its biggest success yet. The amount has given us the room to react better to the fast-changing market conditions."
Kakao Entertainment will be paying ₩50 billion at the completion of the deal by January 2023 and will pay the remaining once Cube Entertainment starts to generate revenue and reaches more than the agreed benchmark. On the other hand, the latter will use this payment for the production of albums and music development.
“Based on the secured funds, we have laid the foundation to flexibly respond to changes in the rapidly changing industrial environment in line with the recent signs of reopening of China and lifting of restrictions in the Korean Peninsula,” Newsen quoted Cube as saying in a statement.
The company added, “We have enough room to invest in and support new artists as well as existing artists. Through this contract, synergy is expected through additional collaboration between Cube Entertainment and Kakao Entertainment.”
