SM C&C AND WOOLLIM ENTERTAINMENT TO MERGE COMPANIES
11:40 pm - 08/08/2013
SM Entertainment has made another surprising announcement after a series of big-scale takeovers.
SM C&C, a subsidiary company of SM Entertainment, has merged with INFINITE’s agency Woollim Entertainment and decided to run an independent label “Woolim Label,” the major agency said through a statement Friday.
Woolim Label will continue to pursue their independent domain of their current artists INFINITE, Nell, TASTY and further rookie artists, set to make synergy effect with SM’s affiliates SM Entertainment, SM C&C and other global subsidiary firms.
For Woolim Label, SM Entertainment will be charge of international distribution of its artists’ music and additional business, while SM C&C will do its label business, SM explained.
SM added that this takeover is expected to make a big improvement in SM group’s whole revenue and work as a steppingstone to mark itself as Asia’s biggest music group and even the first home-grown global music company.
source: nate + tenasia
SM Entertainment's SM C&C merges with Woollim Entertainment to form 'Woollim Label'
SM Entertainment is setting their sights on the big picture as they embark on the road to becoming a major music company such as Universal Music Group, Warner Music Group, Sony Music Entertainment.
Just as the three mentioned labels are major global music companies that manage various sub labels, SM will also set out to become a representative music group in Asia.
They've already kicked off the process as SM C&C has announced a merger with Woollim Entertainment to create an independent 'Woollim Label', whose music will differ from SM Entertainment's sounds with their own color of music and an eclectic lineup of artists. With its connection to SM Entertainment, SM C&C, and other global subsidiaries, a synergy effect is expected.
In addition, with SM Entertainment's global influence and network, artists now under Woollim Label like INFINITE, NELL, and TASTY will benefit, and their increased global recognition will also increase SM group's total sales and profits.
Regarding 'Woollim Label', SM Entertainment stated, "SM Entertainment will run its global music distribution and additional businesses while SM C&C will take charge of the label's functions. In terms of business structure and scale, we will acquire international competitiveness and will stand as Asia's premier music group which can compete with global major music groups. We will take our place as the first global major music group in Korea."
SM C&C, a subsidiary company of SM Entertainment, has merged with INFINITE’s agency Woollim Entertainment and decided to run an independent label “Woolim Label,” the major agency said through a statement Friday.
Woolim Label will continue to pursue their independent domain of their current artists INFINITE, Nell, TASTY and further rookie artists, set to make synergy effect with SM’s affiliates SM Entertainment, SM C&C and other global subsidiary firms.
For Woolim Label, SM Entertainment will be charge of international distribution of its artists’ music and additional business, while SM C&C will do its label business, SM explained.
SM added that this takeover is expected to make a big improvement in SM group’s whole revenue and work as a steppingstone to mark itself as Asia’s biggest music group and even the first home-grown global music company.
source: nate + tenasia
SM Entertainment's SM C&C merges with Woollim Entertainment to form 'Woollim Label'
SM Entertainment is setting their sights on the big picture as they embark on the road to becoming a major music company such as Universal Music Group, Warner Music Group, Sony Music Entertainment.
Just as the three mentioned labels are major global music companies that manage various sub labels, SM will also set out to become a representative music group in Asia.
They've already kicked off the process as SM C&C has announced a merger with Woollim Entertainment to create an independent 'Woollim Label', whose music will differ from SM Entertainment's sounds with their own color of music and an eclectic lineup of artists. With its connection to SM Entertainment, SM C&C, and other global subsidiaries, a synergy effect is expected.
In addition, with SM Entertainment's global influence and network, artists now under Woollim Label like INFINITE, NELL, and TASTY will benefit, and their increased global recognition will also increase SM group's total sales and profits.
Regarding 'Woollim Label', SM Entertainment stated, "SM Entertainment will run its global music distribution and additional businesses while SM C&C will take charge of the label's functions. In terms of business structure and scale, we will acquire international competitiveness and will stand as Asia's premier music group which can compete with global major music groups. We will take our place as the first global major music group in Korea."
Read more at Omona They Didnt: http://omonatheydidnt.livejournal.com/11591105.html#ixzz2bRepe4P1
No comments:
Post a Comment