Part of the Core Multi-Label Strategy in SM 3.0
On May 23, SM Entertainment announced that it will acquire a stake in Great M Entertainment, becoming the second-largest shareholder. Great M is the agency of the six-member boy group 82MAJOR.
SM Entertainment will complete the acquisition of Great M's shares on May 27 through a share purchase agreement.
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SM Entertainment described this investment as the first case of expanding its multi-label strategy?one of the core elements of the 'SM 3.0' strategy?through external investment. The multi-label strategy is a system in which various production centers and labels independently develop and operate intellectual property with autonomy. Through this, the company aims to expand its IP production capabilities and strengthen both the sustainability of its business and its global competitiveness.
Great M was founded in March 2020 by CEO Kim Youngsun, former executive director of FNC Entertainment. In October 2023, the company debuted the six-member boy group 82MAJOR. The name 82MAJOR combines South Korea's country code, 82, with the word 'major,' reflecting the group's ambition to become a major act not only in Korea but also globally.
A representative from SM Entertainment stated, "We plan to continue expanding musical diversity and experimentation through the acquisition of and investment in domestic and international labels, while also diversifying our influence and revenue streams in the global market."
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