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SM Entertainment has secured its position as the second-largest shareholder in GREAT M Entertainment, the agency representing the boy group 82MAJOR.
On May 23, SM disclosed that it had signed a share transfer agreement and plans to finalize its acquisition of shares in GREAT M by May 27.
SM elaborated, “This investment stems from GREAT M’s CEO Kim Young Sun’s demonstrated production talents, showcased through numerous successful projects during his tenure at FNC Entertainment, along with the musical vision of 82MAJOR, which we believe complements SM’s multi-label strategy.” The company acknowledged the potential and unique talents of the artists affiliated with GREAT M.
The agency also highlighted, “This represents our first initiative to enhance our multi-label strategy—one of the foundational aspects of our ‘SM 3.0’ initiative—through external investment.” They further stated, “This aligns with our transition towards a system where various production centers and labels can independently develop and manage intellectual property (IP) with autonomy.”
SM revealed plans to persist in acquiring and investing in both local and international labels to promote musical diversity and innovation, while also diversifying revenue sources and enhancing its global footprint.
Founded in March 2020 by CEO Kim Young Sun, a former executive director at FNC Entertainment, GREAT M Entertainment debuted the boy group 82MAJOR in October 2023.
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