After a series of big-scale takeovers, the powerhouse agency SM Entertainment has made a surprising announcement.
On August 9th, it was announced that SM Entertainment’s subsidiary company, SM C&C — a house of actors, actresses, comedians, hosts etc. — has merged with INFINITE‘s agency, Woollim Entertainment, and decided to run an independent label called “Woolim Label.”
This will be another strategic move of SM Entertainment in becoming Asia’s biggest music group. The takeover is expected to make a big improvement in SM group’s whole revenue.
With its connection to SM Entertainment, Woolim Label current artists INFINITE, Nell and TASTY are expected to make synergy effect with SM.
SM explained that for Woolim Label, SM Entertainment will be in charge of international distribution of its artists’ music and additional business, while SM C&C will do its label business.
What are your thoughts of this surprising news?
Article by: Kim
Edited by: Karolina