Since BTS has become so popular around the world in recent years, it’s not a surprise that their company is becoming successful, as well. Going from being a small company who is often underestimated by people, it’s become the company of international artists. Aren’t Big Hit and BTS inspiring? In this article, Channel-Korea will be providing you all the information you need to know about Big Hit Entertainment’s most recent news. From the auditions for a girl-group to their acquisition of another agency, we’ve got it covered! So, stay tuned!
Big Hit Entertainment Teams Up With BeNX
We’re not here to discuss the drama of BTS’s story, but instead, the meeting of the leaders of Big Hit Entertainment, who planned a global audition for the formation of a new girl-group. Big Hit Entertainment held a company briefing with co-CEOs Bang Shi-hyuk and Yoon Seok-jun, along with BeNX’s CEO, Seo Woo-weok, who was present on Wednesday, August 21, 2019. At the meeting, Bang Shi-hyuk discussed various plans for the future of Big Hit Entertainment. “BTS got the title ’21st Century’s Beatles’, while TXT got the title ’21st Century’s global beginner’. Big Hit has also shown steady growth in several areas, including digital and physical album production, content production, merchandise, and in July, we placed No. 1 on the world chart for concert tour sales,” Bang Shi-hyuk explained. According to Bang Shi-hyuk, Big Hit Entertainment has made many changes in internal management. “There have also been many changes in our internal organization. The number of our employees has nearly quadrupled, and we are currently trying to change to a multi-label system. We are also preparing to increase specialization for business aspects. An example is the recruitment of CBO Min Hee-in,” he continued. Then, Bang Shi-hyuk announced that Big Hit Entertainment and Source Music, together, launched a global audition. “Big Hit and Source Music together launched a global audition,” he said. This global audition plan aims to debut a new girl-group based on Bang Shi-hyuk’s philosophy and Min Hee-jin’s knowledge.
Big Hit Entertainment Acquires Source Music Entertainment
Big Hit Entertainment officially acquired the company Source Music, which is the agency that houses the girl-group GFRIEND. This was confirmed by Big Hit on July 29, 2019. Naver reported, Big Hit released a statement that they had just completed a contract to acquire shares in Source Music and make it a Big Hit subsidiary. “After recently completing its contract to take over the shares of Source Music, Big Hit will integrate (the company) as a subsidiary,” Big Hit said. However, Big Hit explained that he plans to keep the existing management in Source Music, so as not to change the color and label independence. “We plan to keep the Source Music executive currently with the agency, to maintain the color and independence of the unique label,” he continued. Big Hit Entertainment founder Bang Shi-hyuk said that Big Hit and Source Music joined because they shared the same philosophy. “Big Hit and Source Music finally joined because we wanted to share the same philosophy about developing and managing our artists,” he said, “because the two companies know each other well, I hope this acquisition will succeed. I happy that both parties can now paint a bigger picture.” On the other hand, quoting Osen, founder of Source Music, So Sung-jin also expressed his joy at being able to join the Big Hit. “I am happy that Source Music has become part of the Big Hit label. I think in many ways this is an opportunity for all artists, trainees, and employees of our agency to leap forward,” he said. So Sung-jin continued, “specifically, I believe that Big Hit’s ability and experience in creating global artists will quickly become a strong foundation for Source Music, and I look forward to it. Through our organic relationship with Big Hit, we will provide fans with better content in the future.” Source Music was originally founded by So Sung-jin in November, 2009. The agency previously collaborated with Big Hit Entertainment for the production of the girl-group GLAM, which debuted in 2012 before finally disbanding three years later. Big Hit Entertainment does not currently have a female artist on it’s list of performers and industry observers believe that the acquisition of a company that is home to a popular girl-group and many female trainees will strengthen the development of the agency. Big Hit Entertainment was also in talks to get another agency, in addition to Source Music. Although Newsen did not name the agency, the report stated that it was home to several famous idol groups.
Big Hit Entertainment To Acquire Agency with Popular Boy-Group
After announcing their acquisition of Source Music on July 29, 2019, it was revealed that Big Hit Entertainment was in negotiations to get a label that had a popular boy-group. But there is no more detailed information about the label targeted by Big Hit. Merger negotiations are said to be done, but Big Hit Entertainment has not made an official statement because there are still a number of final mediation contracts that must be implemented. This acquisition will be completed no later than 2020. Netizens also wonder which label has been acquired. “I think it’s Fredis (a play on Pledis). Looks like they are getting ready to join Big Hit,” commented netizens. “Which boy group can be called popular? I think Seventeen is the strongest candidate,” added another netizen. “Starship, Pledis, and, RBW. RBW (Mamamoo’s agency) is close to Bang Shi-hyuk, and because Starship was originally a company that originated from Big Hit, that is also possible. Monsta X is a top group. If you see it as a top group, then Pledis it is,“said another. On the other hand, netizens have been discussing the reason Big Hit started to annex other labels that already have established groups, such as GFriend. They guessed the main reason is that, one by one, the BTS members will be drafted and the agency needed to make money without BTS. “People don’t know. If Big Hit only has BTS, they can’t let BTS take a break. Look at the level. BTS can’t rest. They need a group that can make money without BTS, so BTS can rest and stay in their best condition. I mean, they can do it now,” netizens said. “If BTS in the military, who will maintain and develop the company. If you are a BTS fan, you should think about raising the company and helping ease the burden of the BTS,” the netizen concluded. Well, what do you guys think about this news?
Big Hit Entertainment’s New CBO, Min Hee-jin
Big Hit Entertainment received a big spotlight after BTS’s resounding success on the world stage. The agency has also debuted a new boy group, TXT, and reportedly there will be a new girl-group to be born. With the growing number of fans, Bang Si-hyuk inevitably has to innovate. He could not continue to rely on BTS, even though their performance seems to still be going strong. The debut of a new girl-group could be the right solution for the Big Hit. The news was reinforced when Min Hee-jin joined the agency on July 1, 2019, she’s a former member of the SM Entertainment creative team, who was recruited to be Big Hit’s Chief Brand Officer. Min Hee-jin’s role was quite large in her former agency. Together with SM Entertainment, she has helped with the creative concepts for Red Velvet, SHINee, and even EXO. Min Hee-jin is known for her skill in concocting visual concepts for K-Pop idols. Her name is familiar to fans of groups that are in SM Entertainment. According to Bang Si Hyuk, there will be a new sub-agency. Min Hee-jin is being trusted to manage it, and one of the items on its agenda is forming and debuting a girl group. “Our new CBO, Min Hee-jin is a leader who has created the concept of visual directors in the K-Pop industry. We are delighted that a talented person like her can join our agency that focuses on creating content for fans,” said Bang Si-hyuk.
Collaboration with CJ E&M, Belift
Big Hit Entertainment and CJ E&M announced on March 11, 2019, that they have established a joint company called Belift Lab, which will launch a new idol group in 2020. Belift Lab was established with an investment of around 7 billion won. Big Hit Entertainment leader Bang Shi-hyuk will take part in producing the new group. The company was founded based on experience from home and abroad from both companies. CJ E&M will support aspects of television distribution, concerts, and albums, while Big Hit will do music production for the artists. “Our main business is media and entertainment based on intellectual property content platforms. As a collaborative entertainment company and leading content company in the country, we will show results that meet market expectations,” said Belift Lab Director, Kim Tae-ho. CJ E&M, which is a stands for CJ Entertainment and Media, is one of the giant companies in South Korea, and has overseen several management labels for artists, from media and television stations to production houses, including Stone Music Entertainment, Swing Entertainment, television stations Mnet, OCN, Onstyle, and tvN, and even CJ Entertainment for film production. Big Hit Entertainment is known as the home for BTS, one of the popular boy-groups from South Korea, and the agency also recently launched a new boy-group, TXT. Because of their success, Big Hit and CJ E&M will work together to form a new idol group in 2020 which will be promoted globally on Belift Lab’s official website. They also said they would open auditions globally this month for trainees who were ready to be trained at their company later. “Belift Lab is looking for members for the K-Pop boy-band that will debut in 2020. CJ E&M, which produces the TV series ‘Produce’ and Big Hit Entertainment, founder and producer of BTS, has joined together with Belift Lab. Starting with Seoul, we will visit major cities and countries around the world in March,” Belift Lab wrote on the page. Interested parties who can register are trainees must be born between 1997 and 2008, and they must choose one of the categories, whether dancing, rap, singing, acting, or modeling.
