Million Market has become a sublabel under SM Entertainment.
On October 2, it was revealed that SM Entertainment has acquired over 50% of Million Market shares in order to expand the agency's musical diversity. An SM Entertainment affiliate is being considered for the co-chairman position of Million Market.
Million Market is an R&B/hip-hop label that is the home to singer Suran, rapper Penomeco, Chancellor, Oh Dan Ryul, Woo Tae Woon, and more.
SM Entertainment is now affiliated with a total of 4 music companies including EDM label ScreaM Record, Super Junior's Label SJ, Yoon Jong Shin's Mystic Entertainment, and Million Market. The agency has also previously acquired Bae Yong Joon's Key East Entertainment and FNC Add Culture.