SM Entertainment Becomes Second-Largest Shareholder Of 82MAJOR’s Agency Great M Entertainment

SM Leisure has turn out to be the second-largest shareholder of Nice M Leisure, the company behind boy group 82MAJOR.

On Might 23, SM introduced that it had signed a share switch settlement and would full its acquisition of shares in Nice M on Might 27.

SM defined, “This investment was made based on Great M’s CEO Kim Young Sun’s proven production capabilities—demonstrated through various successful projects during his time at FNC Entertainment—and the musical direction pursued by 82MAJOR, which we believe aligns well with SM’s multi-label strategy.” The corporate additionally famous that it acknowledged the potential and particular person skills of the artists below Nice M.

The company additional emphasised, “This marks the first case of expanding our multi-label strategy—one of the core elements of our ‘SM 3.0’ initiative—through external investment.” They added, “It is part of our shift toward a system in which various production centers and labels independently develop and manage intellectual property (IP) with autonomy.”

SM additionally shared its ongoing plans to proceed buying and investing in each home and worldwide labels as a way to broaden musical range and experimentation, whereas diversifying income streams and growing its affect within the world market.

Nice M Leisure was based in March 2020 by CEO Kim Younger Solar, a former govt director at FNC Leisure. The company’s boy group 82MAJOR debuted in October 2023.

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