PURPOSE: To produce a magnetic recording medium having excellent electromagnetic conversion characteristics by using titanium carbide, boron carbide or boron nitride as a dispersion medium for a beads mill.

CONSTITUTION: Titanium carbide, boron carbide and boron nitride are compds. having high hardness of ≥7 Mohs' scale and low sepcific gravities, and these compds. show little wearing. By using titanium carbide, boron carbide or boron nitride having low specific gravity and high hardness which hardly causes cracking as a dispersion medium for a beads mill, good dispersibility of materials to be compounded for a coating material is obtd. Since these compds. have little wearing, the obtd. magnetic recording medium has excellent electromagnetic conversion characteristics because of good dispersibility of the coating material, though the dispersion medium is a different compd. from the coating material. Because of little wearing of the dispersion medium, clogging of screens and gaps can be avoided.