It has been announced that Big Hit Entertainment (BTS Label) has acquired Source Music. Source Music is a Korean entertainment firm that is home to GFriend K-pop girl group. According to a press release, the management team of Source Music will not be changed in order to balance the label’s independence.
Source Music and Big Hit have a history together as they once co-managed the now disbanded groups 8Eight and Glam. Bang Si-Hyuk Big Hit CEO said, “A shared philosophy behind artist promotion and management was the main driver that brought Big Hit and Source Music together.” He further added “Since we know each other so well, we expect the acquisition to be a success. I’m pleased that both companies can now begin painting an even bigger picture.”
Furthermore, Source Music CEO So Sung Jin added “I am thrilled that Source Music has joined Big Hit, I believe this to be a prime opportunity for achieving the next level of excellence for the artists, trainees and members of the label. Big Hit’s track record of creating global artists quickly and expertly sets a solid foundation for Source Music. … We will strive to provide even more amazing content to our fans through this organic relationship with Big Hit.”
What are your opinions about this? Do you think it’s a game-changer for the K-pop industry?