SM Entertainment is setting its boundaries further as it will most probably launch "American Girls' Generation" and "European NCT."
According to Chris Lee, one of SM Entertainment's Board of Directors, a part of the agency's expansion plans is to cater to American and European audiences - an American version of Girls' Generation and a European version of NCT will be launched. This statement came to life during the SXSW 2019. The label sees that there is a large number of audiences globally that are being hooked on K-pop.
"We are planning to make the "second Girls' Generation" with Americans, and the "second NCT" with Europeans. Localization is our global strategy," said Lee. He also added that if the proposed project materializes, these groups will debut around five years from now.
"Just like how Indian movies are called Bollywood, K-Pop is garnering attention as a brand new genre of music across the globe. SM Entertainment has been trying to advance into other Asian and global markets since the early 2000s, by focusing on particular overseas markets.
SM Entertainment focuses on the fandom, color, culture, and musical color of the agency, rather than on appealing to the general public. We've confirmed that these fandoms are huge in Europe and America, and our goal is to continue to expand them," Lee explained.
"We have been focusing on the North American market since last year. We believe companies like Apple Music and Spotify are showing lots of interest in K-Pop, and global companies like Universal Music continue to propose collaborations," Lee also said.
It is noted that in the earlier part of 2019, WayV, a multinational group composed of all Chinese and Thai members, debuted. SM has been working with a Chinese joint venture label, called Label V. Lee stated that it is their first time to bring in the label's culture, production, and technology through this venture. They will also carry out these strategies to Singapore, Vietnam, and Indonesia.
Chris Lee also lauded the achievements of BTS through its world domination, for setting a new standard of music around the world through K-pop. He added that their success is giving a great leap for South Korean music.
Girls' Generation and NCT are some of the best K-pop groups that SM Entertainment has produced. Their contribution to K-pop is fruitful. Thus, fans have been looking forward to their stage performances even after years of debut.
SM Entertainment is one of the major entertainment labels in South Korea. It is home to several successful bands, such as EXO, Red Velvet, Girls' Generation, NCT, Super Junior, TVXQ, and many more.
