BTS’s Company Huge Hit Turns into Majority Shareholder Of Ok-Pop Firm Pledis, Residence To Seventeen & NU’EST

After a collection of earlier expansions and up to date modifications on the South Korean firm, Huge Hit Leisure, residence to BTS and TXT, introduced on Might 25 that it has turn into the biggest shareholder of Pledis Leisure, which homes Ok-pop boy bands Seventeen and NU’EST.

Based on Huge Hit, the transfer has helped the corporate additional its aim of rising its multi-label construction, establishing “a first-string boyband roster in South Korea.”

Huge Hit, which was based by Bang Si-Hyuk in 2005, has seen main successes lately as BTS has turn into an unparalleled international phenomena, and the transfer comes amid rumors of Huge Hit going public and holding an IPO in coming months.

The corporate says that Pledis, which was based by CEO Han Sung Soo in 2007, will “preserve its label’s independence” regardless of the transfer whereas receiving assist from Huge Hit. Its artists are anticipated to, “play a better function in abroad markets based mostly on Huge Hit’s international networks and platform applied sciences, capabilities of which have been confirmed by BTS’ international success.”

In March, the primary waves of the Pledis acquisition have been felt when Seventeen was added to Huge Hit’s proprietary app, Weverse.

“I’m thrilled to be becoming a member of forces with Huge Hit, an organization that’s spearheading the Korean leisure business,” says Han. “This can mark a possibility for progress for each the label’s artists and full workers members. We’ll do our greatest to offer again the ardent love followers have proven us with high quality content material and better success for the artists.”

Over the previous few years, Huge Hit has expanded its roster, launching new acts resembling TXT (often known as TOMORROW X TOGETHER) underneath its personal model and in addition beforehand acquired Supply Music, which homes Ok-pop lady group GFriend, in 2019. Upcoming boy bands and lady teams are additionally presently within the works, based on Huge Hit.

“We’re blissful to collaborate with CEO Han Sung Soo and the inventive workforce of PLEDIS Leisure,” stated Bang , who presently holds the title of Chairman and CEO of Huge Hit. “Hereafter, Huge Hit and Pledis will sympathize by way of music, and can thrive collectively to create nice synergy with one another.”

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