On July 29, Big Hit Entertainment announced that they signed a contract to acquire equity in Source Music and incorporate it into a subsidiary of Big Hit. Source Music will have their existing management team to maintain the color and independence of the label.
Through this acquisition, Big Hit Entertainment has managed to strengthened their multi-label structure. This means, Big Hit secured artists with fandom and high potential trainees in a short period of time in the girl group category
CEO So Sung-jin said, “I’m happy to have Source Music join the Big Hit label.” He also thinks that this is an opportunity for their artists, trainees, and members in many ways.
So Sung Jin remarked, “In particular, I believe that Big Hit’s ability and experience in creating a global artist quickly will become a solid foundation for Source Music, and I’m looking forward to it. Through our organic relationship with Big Hit, we will repay the fans with even better content in the future.”