Big Hit Entertainment has just announced they have just become the largest shareholder in Pledis Entertainment.
As a result of the acquisition, Big Hit Entertainment will now have acquired two of the leading entertainment agencies in K-Pop, with both Source Music and Pledis Entertainment under the Big Hit Labels banner. Big Hit Entertainment acquired Pledis Entertainment as part of its corporate strategy to create new synergy through the constant expansion of their multi-label concept and the advancement of their specialized business.
Pledis Entertainment’s artists joining Big Hit Labels means an expansion of the artists’ IP (intellectual property) will be recognized, and it is expected that Big Hit Entertainment will use its connections to expand both the label and its business.
Pledis Entertainment will continue to operate independently even after joining Big Hit Entertainment. Pledis Entertainment’s artists will receive additional support from Big Hit Entertainment, and based on Big Hit’s proven global success, it is expected Pledis Entertainment’s artists will also expand overseas.
Pledis Entertainment CEO Han Sung Soo commented on the acquisition.
We are pleased to join Big Hit, which is leading the Korean entertainment industry. This will serve as an opportunity for both Pledis Entertainment and our artists to take the leap forward. We have high expectations for the future based on Pledis’ creativity and Big Hit’s strengths.
We will repay our fans with better content and greater success for our artists in the future.
— Han Sung Soo
Big Hit Entertainment CEO Bang Si Hyuk also commented on the acquisition.
Most of all, I am happy to be with CEO Han Sung Soo, and Pledis’ creative company. In the future, Big Hit and Pledis will work with each other and grow together, creating a great synergy between us.
— Bang Si Hyuk
Pledis Entertainment artists SEVENTEEN, NU’EST, Nana, Bumzu, Kyulkyung, Yehana, and Sungyeon are now under the Big Hit Label.