Big Hit Entertainment (Chairman Bang Si Hyuk) has secured its largest shareholder status by acquiring stakes in Pledis Entertainment (CEO Han Sung Soo), the agency of the boy group NU’EST and Seventeen.
As a result, Big Hit has continued to change the structure of the entertainment industry after less than a year, acquiring shares of Source Music (Label), Superb (Game) and Pledis (Label).
With Pledis joining the Big Hit camp, Big Hit’s multi-label system has secured a stronger lineup of artists. In particular, Big Hit, which manages BTS and 2019’s top rookie group TXT, and Pledis, which manages NU’EST and SEVENTEEN, who have huge fandom around the world, have come together under one roof, bringing together the the nation’s top boy groups.
Pledis’ joining Big Hit came as part of Big Hit’s corporate strategy, which seeks to create synergy through the continued expansion of multi-labels and the advancement of specialized business areas.
Pledis will continue to operate independently after the merger and is expected to secure strong competitiveness in expanding its business and entering overseas markets. The artists belonging to Pledis will receive systematic support from Big Hit’s professional and segmented business corporations and organizations. Based on Big Hit’s overseas business capabilities, global network, and platform technology proven by BTS’ huge success, it is expected to perform more in overseas markets.
“We are pleased to be with Big Hit, which is leading the Korean entertainment industry,” said Han Sung Soo, CEO of Pledis. “It will serve as an opportunity for both Pledis artists and members to take a leap forward,” he added. “We have high expectations for the future as Pledis’ creativity and Big Hit’s strengths will meet and show. We will repay our fans with better content and greater success for artists in the future.”
Chairman Bang Si Hyuk of Big Hit said, “Most of all, I am happy to collaborate with CEO Han Sung Soo and Pledis’ creative organization. In the future, Big Hit and Pledis will sympathize with music, grow together, and create great synergy between each other.”