[Official] Big Hit Acquires Stake in Pledis, Agency of NU'EST and Seventeen: "We Will Repay with Great Success"

Photo by BigHit·Pledis Entertainment homepage capture

[Asia Economy Intern Reporter Kim Yeon-ju] Big Hit Entertainment (Big Hit) has acquired shares of Pledis Entertainment (Pledis), the agency of groups NU'EST and SEVENTEEN, becoming the largest shareholder.

Pledis joining Big Hit is part of Big Hit's strategy to create synergy through continuous expansion of multi-labels and advancement of specialized business areas.

Pledis will continue to operate independently even after joining Big Hit. According to Big Hit, Pledis's affiliated artists will receive systematic support from Big Hit's specialized and segmented business corporations and support organizations.

Based on the overseas business capabilities, global network, and platform technology recognized through Big Hit's group BTS, Big Hit plans to promote the overseas market activities of Pledis's affiliated artists. Already, Pledis's group SEVENTEEN opened a community on 'Weverse,' a global fan community platform developed and operated by Big Hit's subsidiary BNX, in March, continuing communication with fans.

Bang Si-hyuk, Chairman of Big Hit, stated, "Going forward, Big Hit and Pledis will empathize through music, grow together, and create great synergy between each other."

Han Sung-soo, CEO of Pledis, said, "We are pleased to be working with Big Hit, which is leading the Korean entertainment industry. This will be an opportunity for all Pledis artists and members to take a step forward," adding, "We will repay fans with even better content and greater success of our artists."

Meanwhile, Pledis was founded in 2007 by CEO Han Sung-soo and introduced artists such as Son Dam-bi, After School, and Orange Caramel to the music industry. Currently, Pledis houses groups NU'EST and SEVENTEEN, as well as Nana, Bumzu, Kyulkyung, Yehana, and Sungyeon.