In the past few years, the K-pop industry saw multiple entertainment companies merge, while others get acquired by other labels. Such action was made due to various reasons, including entry to the global entertainment industry, development of strategic business, and more.
K-pop Entertainment Companies That Merged or Were Acquired by Other Labels
1. ABYSS Company, MAKEUS Entertainment
Originally called Blue Entertainment, ABYSS Company acquired and merged with MAKEUS Entertainment on Feb. 8, 2021. ABYSS stated that they will move forward as a global content company, entering the global entertainment industry "represented by K-pop and the exploding esports industry."
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They added that they plan to broaden their business area by actively seeking to enter the global market together with overwhelming support for the artists and the staff.
ABYSS Company is an agency centered on domestic and international performances and esports-related entertainment industries. Meanwhile, MAKEUS Entertainment houses musical artists such as Sunmi, Park Won, and Urban Zakapa.
The two K-pop companies are now wholly called ABYSS Company.
2. RBW Entertainment, WM Entertainment
RBW Entertainment acquired WM Entertainment on April 7, 2021. RBW announced that they signed a sales and purchase agreement with WM's biggest shareholder on March 31, acquiring 70% of WM's shares and making it their subsidiary label.
RBW's roster of artists include MAMAMOO, ONEWE, PURPLE KISS, and ONEUS. While WM Entertainment is home to artists like Oh My Girl, ONF, B1A4, and former IZ*ONE Lee Chaeyeon.
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WM Entertainment said that they plan to develop a strategic business based on content IP (intellectual property) and work together to lead K-content culture beyond Korea.
Though RBW acquired WM, the latter will continue to operate as an independent agency and maintain their current management.
3. Play M Entertainment, Cre.Ker Entertainment
On Sept. 17, 2021, Play M Entertainment and Cre.Ker Entertainment, which are both subsidiaries of Kakao Entertainment, announced their merger into one agency called IST Entertainment.
Play M manages artists including Apink, Weekly, VICTON, and Huh Gak, while Cre.Ker Entertainment houses The Boyz.
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Their union took place before the end of 2021. Cre.Ker Entertainment CEO Yoon Young Ro and Play M Entertainment CEO Jang Hyun currently head IST Entertainment together.
Kakao Entertainment commented that they will work closely with the newly merged company to "create a powerful integrated synergy and expand our influence across various genres."
4. Source Music, Pledis Entertainment, KOZ Entertainment
All three of these companies-Source Music, Pledis Entertainment, and KOZ Entertainment were acquired by Big Hit Entertainment before the latter rebranded as HYBE.
Big Hit first acquired Source Music in July 2019 while letting Source Music's current executives remain with the company to maintain the unique color and independence of the agency.
Source Music is known to be the former home of GLAM and GFRIEND, and currently houses LE SSERAFIM.
Pledis Entertainment is the next K-pop company that Big Hit Entertainment acquired. The latter revealed on May 25, 2020 that they are now the biggest shareholder of Pledis. Like Source Music, Pledis will operate independently.
The latest K-pop company to be acquired by Big Hit is Zico's label KOZ Entertainment. On Nov. 18, 2020, KOZ CEO Yoo Seung Hyun shared that the philosophy of their label, "which links huge importance to the value of artists and content and seeks innovation in the music industry," is the same as that of Big Hit. Hence, they decided to partner up with Big Hit.
Do you know other K-pop entertainment companies that merged or were acquired by other labels? Leave a comment below!
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Written by Maria Scott
