SM Entertainment (hereafter SM) will become the second largest shareholder of Great M Entertainment (hereafter Great M), which is home to the six-member boy group '82MAJOR.'
SM will complete its acquisition of equity in Great M on May 27 through a share transfer agreement and promote the growth of 82MAJOR together with Great M's CEO Kim Young-sun.
This investment has been determined based on the producing capabilities of CEO Kim Young-sun, who has led numerous successful projects at FNC Entertainment, as well as the musical direction pursued by 82MAJOR that can create synergies with SM's multi-label strategy and take into account the abilities and growth potential of individual artists.
In particular, this is the first case of expanding the multi-label strategy, which is one of the key elements of the 'SM 3.0' strategy, through external investment. It has been executed as part of the process of transitioning to a system where various production centers and labels operate independently with autonomy to develop and manage intellectual property (IP). Through this, SM aims to enhance its production capabilities for high-quality IP and expand its musical spectrum, thereby strengthening the sustainability of its business and global competitiveness.
Great M was established in March 2020 by CEO Kim Young-sun, who was formerly the executive director at FNC Entertainment. Immediately after its establishment, the label began recruiting trainees and, after three years of preparation, debuted the six-member boy group '82MAJOR' on Oct. 11, 2023. The name '82MAJOR' combines the country code 82 with 'major,' reflecting an ambition to become a major player globally.
82MAJOR is a team that presents hip-hop-based music, and the members participate in songwriting and composing, showcasing their musical capabilities. Within one year of their debut, they entered the Billboard charts, demonstrating their presence in the global market.
In addition, 82MAJOR has been actively promoting since April with their mini album's title track 'TAKEOVER,' expanding their fandom with stable live skills and outstanding performances. They have achieved a record of sold-out tickets for their upcoming concert in Korea in June and are set to meet their North American fans this summer through a solo tour, drawing attention as a 'global performance-type idol' among music fans worldwide.
SM plans to continue expanding musical diversity and experimentalism through domestic and international label acquisitions and investments, diversifying its influence and revenue sources in the global market.
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