MAMAMOO's agency, RBW Entertainment, has acquired WM Entertainment, home to OH MY GIRL.
Founded in 2010, RBW Entertainment is currently home to five Korean groups, namely MAMAMOO, Onues, Onew, Vromance, and Purple Kiss. Meanwhile, WM Entertainment was created in 2008 and manages artists such as OH MY GIRL, B1A4, ONF, and IZ*ONE's Chaeyeon.
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These two Korean entertainment companies have now joined forces with the aim to expound on both the domestic and global markets, increasing the profile of their artists in the industry.
MAMAMOO's Agency, RBW, Acquires OH MY GIRL's Company, WM Entertainment
On April 7, RBW announced that they will be acquiring WM Entertainment. These two record labels recently signed a stock purchase agreement (SPA) and have completed the transaction on March 31 this year. MAMAMOO's agency has secured more than 70 percent from the largest shareholder of WM Entertainment, which is now one of RBW's subsidiaries.
RBW shared that they plan to create synergy through collaboration with WM. Although RBW has merged with OH MY GIRL's label, WM Entertainment will remain an independent company and continue to manage its current artists.
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RBW and WM Entertainment are expected to increase sales together and achieve success as they will be combining their planning and content production capabilities in the process of making songs and albums for their respective artists.
In addition to advancing to the global market, these two entertainment companies also plan to launch a new strategic business based on IP (Intellectual Property) to lead the Hallyu wave.
Concerning the merger, the CEO of RBW, Kim Jin Woo, said that WM Entertainment has grown swiftly both domestically and globally, owing to its excellence in discovering and fostering artists. "We will create new synergies as each has different know-how," he added. What can you say about the merger of RBW and WM Entertainment?
About MAMAMOO's Agency, RBW, and OH MY GIRL's Label, WM Entertainment
Prior to acquiring OH MY GIRL's agency and making it its subsidiary, RBW has already established sub-labels, including Cloud R, All Right Music, RBW Vietnam, RBW Japan, and Modern RBW.
RBW Vietnam currently manages boy band D1Verse, which debuted in February last year. RBW Japan, on the other hand, has male trainees called "RBW JBOYZ."
K-pop hitmaker Kim Do-hoon is the representative producer under RBW Entertainment. And as mentioned above, Kim Jin Woo is the CEO. Jin Woo excels in content planning, production system, and has an efficient business operation know-how.
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MAMAMOO's label saw success in 2020 despite the pandemic. They recorded a total of 37.2 billion won in sales and 7.6 billion won in operating profits.
Meanwhile, OH MY GIRL's company, WM Entertainment began as a small company and has seen steady growth. They have since reached 12.8 billion won in sales and 1.8 billion won in operating profits last year.
Director Kim Jin-Mi, who is in charge of production, and Cho Ji-Hyun, head of the company, are the key characters of WM Entertainment. The label is carrying out a variety of entertainment-related businesses such as management, album planning and production, and concert planning.
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Written by Mhaliya Scott
