A momentous deal has just been sealed!
August 9th (Korea time), representatives from S.M. Entertainment‘ s S.M. Culture and Contents (S.M. C&C) just made a big announcement of its merger deal with Woollim Entertainment.
This coming September, the music production of all of Woolim Entertainment’s artists will be managed managed under S.M’s newest subsidiary, Woollim Label. The strategic move marks the beginning of S.M.’s progress to becoming the number one music company in Asia, similar to Universal Music Group and Sony Music Entertainment in the U.S.
The surprise announcement had many fans shocked and worried at the same time. So what does this mean for Woollim’s artists such as Infinite, Nell, and Tasty? Thanks to S.M.’s network, this merger is a win-win situation for both parties. Woollim artists will acquire more global recognition with this merge. In return, S.M. C&C, who will be managing Woolim’s international music distribution, will increase its revenues and profits. To clarify, the merge does NOT affect Woollim artists’ style, production, or management. For Infinite, Nell, and Tasty it’s business as usual, and with a more solid company to boost and promote their music.