SM Entertainment is setting their sights on the big picture as they embark on the road to become a major music company such as Universal Music Group, Warner Music Group, and Sony Music Entertainment.
Just as the three mentioned labels are major global music companies that manage various sub labels, SM will also set out to become a representative music group in Asia.
They've already kicked off the process as SM C&C has announced a merger with Woollim Entertainment to create an independent 'Woollim Label', whose music will differ from SM Entertainment's sounds with their own color of music and an eclectic lineup of artists. With its connection to SM Entertainment, SM C&C, and other global subsidiaries, a synergy effect is expected.
In addition, with SM Entertainment's global influence and network, artists now under Woollim Label like INFINITE, NELL, and TASTY will benefit, and their increased global recognition will also raise SM group's total sales and profits.
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Source: Chosun Ilbo via Nate
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