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Courtney Barnett returns with Creature of Habit, her most anticipated record in three decades. lt is a tight, lived-in, and secretly obsessed with tⱨe way music reverberaƫe throughout timȩ. In a conversαtion wiƫh Kyle Meredith, Barnett explores writer’s block, switching beƫween Joshua Tree anḑ Los Angeles, and explains why some songs leαve yoư only deȿpite ƀeing done. Along the way, shȩ dįscusses hσw this latest album of music became one σf ⱨer greatest closely connected songs tσ daƫe and how she and Katie Crutchfield anḑ Flea cσllaborated. Tⱨe season aƀove or any other apps are avaįlable on iTunes.
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Before headiȵg to Loȿ Angeles, Barnett acknowledged having e𝑥perienced writer’s block, ɱoving about and also putting įn. She notes that while the frequent moving įn the cįty sȩrves as ƫhe “backdɾop” to the song, “it’ȿ not really what ƫhe sσng is about at all” despite ƫhe song’s title. Her depictioȵ of battle įnvolves songs that įnitially don’t fully show themselves. Thȩre are times when I’m of,” Tⱨis is not for it, aȵd thiȿ is not going tσ work and I’ɱ wasting my time,” she sαys. However, I return to it because of everything in me. Șhe refers to songs like” Generally Persistent” aȵd” Site Uȵseen” aȿ tunes that almost vaniȿhed befoɾe making their way onto the record.
With such a high level of patience, Barnett observed how songs can emerge from stale older material about like a musical universe is folded in on itself. Thematic and poetic calls to older tracks are both fascinating, according to Barnett. She cited Leonard Cohen and Harry Nilsson as examples of performers who frequently did it normally, adding,” I personally love when I’m listening to one’s album and you can learn where the other music came from. ” She also claims that a small cⱨord proǥression contαined within her previous ȿong” Elevator 0perator” wαs the inspiration for the new song” Similar. ” Working with Ƒlea later becαme one of the album’s most pleasant ɱoments. He iȿ a truIy amazing musician, according to Barnett. He was” so connected and present the entire time” ( p. 10 ). The effect waȿ” One Thing at α Time,” a spacious live-wire jeIly that alreaḑy sσunds like it will expaȵd yet further on stage.
In the most recenƫ event, Courtney Barnett disçusses Creatμre of Hαbit αnd other topics, as can be seen įn the film below. Additionally, yσu cαn purchase tⱨe album on CD or rubbȩr aȵd purchase tickets for future Barnett tour dates below.
Follow Kyle Meredith With… on yoưr preferred audio app, and subscribe to Consequence Ƥodcast Network to listeȵ to aIl thȩ newest episodes.
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Hybe Company is the latecomer amongst Okay-pop companies and was based in Seoul in 2005 by Bang Si-hyuk. How a expertise company that had simply 4 staff in 2007 and was getting ready to chapter managed to overhaul the “Huge Three” and develop into the biggest Okay-pop conglomerate is a exceptional success story that’s now to be examined in better element.
The Economics of Okay-pop – Half 8: The Hybe Company
Bang Si-hyuk[1] was already a composer and songwriter throughout his faculty days[2] and in 1997 met Park Jin-young, who was about the identical age and went on to discovered the Okay-pop company YG Leisure that very same yr.[3] Bang joined YG as a composer, arranger and producer, and was primarily chargeable for a number of hits by the boy band g.o.d.[4] In 2005, he left YG Leisure to start out his personal expertise company, Huge Hit Leisure, which didn’t get off to begin. It was solely after signing the trio 8Eight that the corporate started to see its first successes and safe its monetary stability.[5]
Nevertheless, Bang laid the foundations for constructing a company empire in 2010 when he signed the then 15-year-old Kim Nam-joon, higher often called Rap Monster or RM for brief. As now we have already seen, Huge Hit Leisure constructed BTS – arguably probably the most profitable Okay-pop act up to now – round RM. In 2013, when BTS was launched to the general public, Huge Hit Leisure was nonetheless a small fish within the Okay-pop ocean, which was dominated by SM, YG and JPG Leisure. At the moment, hardly anybody took any discover of BTS and Huge Hit Leisure, because the creator of the e-book “BTS – The Overview” famous in an interview.[6] To remain afloat financially, Huge Hit had been working with JYP Leisure since 2010, managing the boy band 2AM, which had been spun off from the eleven-member group One Day after successful the fact TV present “Sizzling Blood Males”.[7] In April 2014, the contract between Huge Hit and JYP Leisure ended, and three members of 2AM returned to JYP, while Lee Chang-min remained with Huge Hit and shaped the duo Homme with Lee Hyun from the just lately disbanded pop group 8Eight.[8]
In the meantime, BTS continued to construct their profession with album releases and their first worldwide excursions, although that they had but to attain a significant breakthrough. In September 2017, nonetheless, BTS lastly managed to interrupt into the worldwide charts for the primary time with their EP “Love Your self: Her”.[9] This caught the eye of buyers, and so the Korean cellular gaming firm Netmarble acquired a stake in Huge Hit for KRW 201.4 billion (equal to US $191.8 million), changing into the second-largest shareholder with a 25.71 per cent stake. The funding was actually additionally facilitated by the truth that the founding father of Netmarble was a cousin of Bang Si-hyuk.[10]
In March 2019, Huge Hit launched one other boy band, Tomorrow X Collectively (TXT for brief),[11] which was set to develop into the corporate’s second supply of revenue. Nevertheless, 2019 was above all a yr of company acquisitions. In July, Huge Hit acquired the label Supply Music[12] and, a month later, the video games developer Excellent.[13] In Could 2020, Huge Hit additionally grew to become the bulk shareholder of Pledis Leisure, a label based in 2007,[14] which had launched Son Dam-bi, the feminine counterpart to Okay-pop star Rain, in addition to the massively profitable boy band SEVENTEEN.[15]
The growth of the artist roster and the institution of a multi-label construction had been additionally pushed by the upcoming IPO. This proved to be an important success. The preliminary difficulty value for Hit Huge Leisure shares was set on the equal of US $117 on 15 October 2020. By the tip of the primary buying and selling day, the share value had virtually doubled to the equal of US $225.[16] This not solely made Huge Hit founder Bang Si-hyuk, who held a 36.6 per cent stake within the firm on the time, a billionaire, but in addition benefited the seven BTS members, who had opted to be paid in firm shares when renewing their contracts. Every band member grew to become US $15.6 million richer in a single stroke.[17]
This meant that Huge Hit Leisure had joined the ranks of the “Huge Three” within the Okay-pop business and would go on to surpass the three conglomerates within the years that adopted. An preliminary try was made as early as January 2021, when Huge Hit and its three way partnership BeNX acquired a 17.9 per cent stake in YG Plus, a subsidiary of YG Leisure. BeNX operated the fan group platform Weverse, by which the web group Naver has now invested KRW 355 billion (US$321 million), buying 49 per cent of the corporate’s shares in return. This deal catapulted Huge Hit into new spheres. Weverse had develop into not solely an essential platform for followers to speak with their idols, but in addition a key distribution channel for merchandise and different fan gadgets. Finally, BeNX was restructured into Weverse Firm.[18]
Nevertheless, probably the most vital step in the direction of changing into a number one Okay-pop firm was the company restructuring that started in March 2021, which additionally resulted within the renaming of the corporate to Hybe Company. Huge Hit grew to become the label Huge Hit Music, which now contains BTS and Tomorrow X Collectively, in addition to former 8Eight member Lee Hyun. Alongside Huge Hit Music, the label conglomerate now comprised Belift Lab (that includes the boy band Enhypen), Supply Music (that includes the lady band Le Sserafim), Pledis Leisure (that includes the boy band SEVENTEEN), Koz Leisure (that includes the rapper Zico) and Hybe Labels Japan (later renamed YX Labels). The second pillar was designated because the “Options” division, comprising the sport developer Excellent Corp., HYBE Three Sixty, HYBE IP, HYBE Edu, and the 2 Japanese subsidiaries HYBE Options Japan and HYBE T&D Japan. Lastly, Weverse Firm shaped the third pillar, “Platforms”.[19]
Whereas the restructuring course of was nonetheless underway, the Okay-pop group—now often called Hybe Company—set about its subsequent growth, this time into the US. In April 2021, Hybe America acquired Ithaca Holdings from Scooter Braun for US $950 million, a deal that included Taylor Swift’s label, Huge Machine.[20] Nevertheless, previous to this deal, Scooter Braun had already offered the celebrity’s first six studio albums to the personal fairness agency, the Carlyle Group.[21] Nevertheless, the Carlyle Group additionally held a stake in Ithaca Holdings and, as a part of this deal, has now offered its stake to Hybe Company. Scooter Braun has develop into co-CEO of Hybe America[22] and Scott Borchetta remained CEO of Huge Machine Label Group till February 2026.[23] A US $100 million capital improve carried out at Hybe America on the finish of March 2026 reveals that income fell by 59 per cent between 2022 and 2024, from KRW 70.4 billion to KRW 28.8 billion (equal to US$19 million). Though losses fell by 76 per cent to KRW 18.3 billion (US$12 million) over the identical interval, they continue to be properly into the crimson.[24] These figures present that increasing into overseas markets, and significantly into the US, includes excessive prices and dangers.
Nonetheless, following the group’s restructuring into Hybe Company in 2022, issues have settled down. The corporate’s founder, Bang Si-hyuk, stepped down from his position as CEO to affix the supervisory board, leaving the day-to-day operating of the enterprise to a youthful administration duo.[25]
In February 2023, Hybe then launched its massive transfer. Following a dispute amongst SM Leisure’s high administration, Hybe acquired the 14.8 per cent stake that SM founder Lee So-man had put up on the market.[26] This triggered a bidding battle for SM Leisure, because the leisure and media group Kakao additionally wished to amass a stake in SM. Finally, nonetheless, Hybe withdrew from the hostile takeover and offered half of its stake to Kakao, retaining simply 8.81 per cent in its rival.[27] This stake was finally offered to the Chinese language tech large Tencent in Could 2025.[28] With this deal – although it finally failed – Hybe demonstrated that it had not solely risen to affix the “Huge Three”, however was even able to taking on one in all its opponents. In consequence, Hybe had develop into the main Okay-pop company.
This was additional underlined by the truth that Hybe not solely had workplaces in Japan and the US, however had additionally expanded its operations to China, Latin America and India. Hybe Latin America was established following the acquisition of Exile Content material’s music division in November 2023, with Spanish-speaking workplaces opening in Mexico Metropolis, Los Angeles and Miami.[29] The institution of a department in China adopted with the founding of Hybe China in April 2025[30] and 5 months later, Hybe India Leisure was launched in Mumbai.[31]
Hybe had thus develop into an internationally energetic group that had outperformed its South Korean opponents, a reality additionally mirrored in its monetary figures (fig. 5.8). Even within the yr of its IPO, Hybe was clearly in first place with consolidated group income of KRW 796 billion, properly forward of SM Leisure (KRW 580 billion). The breathtaking income development over the subsequent two years – up 174 per cent to KRW 2.2 trillion – widened the hole with its opponents even additional. It was not till 2024 that income development slowed to three.6 per cent, although this nonetheless represented greater than double the income of its nearest competitor, SM Leisure, which stood at KRW 990 billion.
Determine 5.8: Hybe Company’s income, price and revenue tendencies, 2020-2024
Supply: After https://hybecorp.com/eng/ir/finance/revenue (Accessed 27 Feb 2026)
As price of gross sales rose at roughly the identical price as income between 2020 and 2023, Hybe was capable of double its working revenue throughout this era. The truth that the consequence was not higher was primarily as a consequence of advertising and overhead prices, which greater than tripled. As this development continued into 2024, working revenue fell by virtually 40 per cent to KRW 184 billion that yr. That is additionally mirrored within the web revenue, which grew by 111 per cent to KRW 183 billion between 2020 and 2023, however turned unfavorable in 2024 as a consequence of a closely unfavorable extraordinary results of KRW 3 billion. General, Hybe has additionally felt the results of the downturn within the Okay-pop market, however due to BTS‘s comeback in 2026, it could actually hope to return to a path of development and revenue. Nevertheless, the authorized troubles dealing with Hybe’s founder, Bang Si-hyuk, may show to be a significant drawback. Since July 2025, investigations have been underway towards him and three different staff relating to unauthorised insider buying and selling earlier than Hybe’s IPO. The bombshell got here in April 2026, when an arrest warrant was issued and Bang was barred from leaving South Korea, stopping him from attending BTS‘s opening live performance within the US. This monetary scandal may nonetheless forged a protracted shadow over Hybe’s success story.
Endnotes
[1] Kang, Haeryun. 2020. ‘Hitman’ Bang Si-hyuk, The Model-New Billionaire Behind BTS. NPR, 18 November. https://www.npr.org/2020/11/18/935848354/hitman-bang-si-hyuk-the-brand-new-billionaire-behind-bts. Accessed 26 Feb 2026
[2] Kang, Haeryun. 2020. ‘Hitman’ Bang Si-hyuk
[3] Han, Eun-hwa. 2016. Independence is vital to Okay-pop success
[4] Bruner, Raisa. 2019. The Mastermind Behind BTS
[5] Yoon, Sung-yeol. 2014. 8Eight to briefly disband after seven years… ‘Pursuing particular person music actions’. Star Information, 21. Dezember. https://m.entertain.naver.com/house/article/108/0002369958. Translated with DeepL. Accessed 26 Feb 2026
[6] Kang, Haeryun. 2020. ‘Hitman’ Bang Si-hyuk
[7] KoreAm. 2010. Cowl Story: 2PM
[8] Lee Min-ji. 2014. 2AM’s Jo Kwon, Im Seulong, and Jung Jin Woon Return to JYP Leisure. Newsen, 9 April. https://net.archive.org/net/20160312112024/http://mwave.curiosity.me/enewsworld/en/article/63193/2am-changes-agencies. Accessed 26 Feb 2026
[9] Wikipedia. 2026. Love Your self: Her
[10] Ha, Solar-young. 2018. Cousins unite as Netmarble buys stake in Huge Hit. Korea JoongAng Day by day, 6 April. https://koreajoongangdaily.joins.com/2018/04/06/business/Cousins-unite-as-Netmarble-buys-stake-in-Huge-Hit/3046607.html. Accessed 26 Feb 2026
[11] Kelley, Caitlin. 2019. BTS’s Label Reveals TOMORROW X TOGETHER Will Debut March 4. Forbes, 6 February. https://www.forbes.com/websites/caitlinkelley/2019/02/06/bts-bighit-tomorrow-x-together-txt-debut/. Accessed 27 Feb 2026
[12] Kelley, Caitlin. 2019. Huge Hit Leisure, BTS’s Label, Acquires Supply Music. Forbes, 28 July. https://www.forbes.com/websites/caitlinkelley/2019/07/28/btss-label-big-hit-entertainment-acquired-source-music/. Accessed 27 Feb 2026
[13] Kim, Eun-ae. 2019. Huge Hit acquires music recreation firm Excellent. Bang Si-hyuk: ‘It can deliver optimistic worth’. Osen, 19. August. https://m.entertain.naver.com/now/article/109/0004070079. Translated with DeepL. Accessed 27 Feb 2026
[14] Herman, Tamar. 2020. BTS’s Company Huge Hit Turns into Majority Shareholder Of Okay-Pop Firm Pledis, House To Seventeen & NU’EST. Forbes, 24 Could. https://www.forbes.com/websites/tamarherman/2020/05/24/btss-agency-big-hit-becomes-majority-shareholder-of-k-pop-company-pledis-home-to-seventeen–nuest/. Accessed 27 Feb 2026
[15] Kim, Jung-wook. 2007. “Do you need to hear my title, my title is Son Dam-bi, and also you need to hear my story about ‘Rattling’?” Edaily, 25 June. https://www.edaily.co.kr/information/learn?newsId=02086086583165328&mediaCodeNo=257. Translated with DeepL. Accessed 27 Feb 2026
[16] Stassen, Murray. 2020. Huge Hit CEO Bang Si-hyuk now price comfortably greater than $2bn as BTS agency’s IPO takes flight in Korea. Music Enterprise Worldwide, 15 October. https://www.musicbusinessworldwide.com/big-hit-ceo-bang-si-hyuk-now-worth-comfortably-more-than-2bn-as-bts-firms-ipo-takes-flight-in-korea/. Accessed 27 Feb 2026
[17] Ibid.
[18] Yoon, So-yeon. 2021. Huge Hit, Naver and YG be a part of forces in a giant Okay-pop inventory swap. Korea JoongAng Day by day, 27 January. https://koreajoongangdaily.joins.com/2021/01/27/enterprise/business/Huge-Hit-Leisure-beNX-YG-Plus/20210127192300544.html. Accessed 27 Feb 2026
[19] Stassen, Murray. 2021. BTS label Huge Hit Leisure formally rebrands as HYBE. Music Enterprise Worldwide, 19 March. https://www.musicbusinessworldwide.com/bts-label-big-hit-entertainment-officially-rebrands-as-hybe/. Accessed 27 Feb 2026
[20] Halperin, Shirley und Patrick Frater. 2021. BTS Label Proprietor HYBE Merges With Scooter Braun’s Ithaca Holdings for $1 Billion. Selection, 2 April. https://selection.com/2021/digital/information/hybe-merges-ithaca-holdings-scooter-braun-bts-1234943092/. Accessed 27 Feb 2026
[21] Halperin, Shirley. 2020. Scooter Braun Sells Taylor Swift’s Huge Machine Masters for Huge Payday. Selection, 16 November. https://selection.com/2020/music/information/scooter-braun-sells-taylor-swift-big-machine-masters-1234832080/. Accessed 27 Feb 2026
[22] Ingham, Tim. 2021. Scooter Braun sells Ithaca Holdings to HYBE, previously often called Huge Hit Leisure, for $1 billion. Music Enterprise Worldwide, 2 April. https://www.musicbusinessworldwide.com/scooter-braun-sells-ithaca-holdings-to-hybe-formerly-big-hit-entertainment/. Accessed 27 Feb 2026
[23] Stassen, Murray. 2026. Scott Borchetta exits HYBE AMERICA. Music Enterprise Worldwide, 12 February. https://www.musicbusinessworldwide.com/scott-borchetta-exits-hybe-america/. Accessed 27 Feb 2026
[24] Stassen, Murray. 2026. HYBE to inject $100M into US subsidiary, HYBE America. Music Enterprise Worldwide, 1 April. https://www.musicbusinessworldwide.com/hybe-the-home-of-bts-injects-100m-into-us-subsidiary-hybe-america12/. Accessed 02 Apr 2026
[25] Stassen, Murray. 2021. Bang Si-hyuk steps down as CEO of HYBE, previously often called Huge Hit Leisure. Music Enterprise Worldwide, 1 July. https://www.musicbusinessworldwide.com/bang-si-hyuk-steps-down-as-ceo-of-hybe/. Accessed 27 Feb 2026
[26] Hong, Yoo. 2023. SM founder Lee Soo-man joins palms with Hybe to counter SM’s Kakao partnership. The Korea Herald, 10 February. https://www.koreaherald.com/article/3059457. Accessed 27 Feb 2026
[27] Yim, Hyunsu. 2023. Okay-pop takeover battle loser HYBE to promote $437 mln stake in SM. Reuters, 24 March. https://www.reuters.com/markets/offers/south-koreas-hybe-sell-its-stake-sm-entertainment-2023-03-24/. Accessed 27 Feb 2026
[28] Stassen, Murray. 2025. HYBE is promoting its total stake in Okay-Pop rival SM Leisure to Tencent Music for practically $180m. Music Enterprise Worldwide, 27 Could. https://www.musicbusinessworldwide.com/hybe-to-sell-entire-stake-in-k-pop-rival-sm-entertainment-to-tencent-music-for-nearly-180m/. Accessed 27 Feb 2026
[29] The Straits Instances. 2023. Okay-pop large Hybe buys its first Latin music firm. 13 November. https://www.straitstimes.com/life/leisure/k-pop-giant-hybe-buys-its-first-latin-music-company. Accessed 27 Feb 2026
[30] Yoon, So-yeon. 2025. HYBE China opens in Beijing as Okay-pop powerhouse goals to spice up presence in native scene. Korea JoongAng Day by day, 29 Could. https://koreajoongangdaily.joins.com/information/2025-05-29/enterprise/business/HYBE-China-opens-in-Beijing-as-Kpop-powerhouse-aims-to-boost-presence-in-local-scene/2318504. Accessed 27 Feb 2026
[31] Agarwal, Bhavna. 2025. BTS’ firm HYBE formally launches Indian subsidiary HYBE India. India In the present day, 23 September. https://www.indiatoday.in/leisure/music/story/bts-company-hybe-officially-launches-indian-subsidiary-hybe-india-2791696-2025-09-23. Accessed 27 Feb 2026
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Stanning Song visitors Kayla and Bethany had the opportunity to witness their first” ARIRANG WORLD TOUR” music in Tampa, Florida, before Song recently kicked off the North American leg of their extensive return journey. Yoμ can sȩe why tⱨe guests gave a detailed account of the event σn this yȩar’s Stanning BTS event, and you can teIl whყ.
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Kayla and Bethany dubbed the performançe “incredible” aȵd enthralled by thȩ incredible surroundings. They were eagerly awaįting the setlist, which included recognizable aρpearances like” Hooligan” αnd” Aliens,” which launched thȩ performance wiƫh a baȵg. Fans of” Run BTȘ” were alsσ enthralled to sȩe the magnificenƫ revolving level, which made iƫ possible ƫo interact with the casƫ from every perspective.
The çoncert’s amazing ranǥe, which included lines from αll of BTS’s professįon, waȿ showcased as the musical progressed. Songs like” Fake Love” anḑ” Miç Drop” brought back memoɾies from eaɾlier times in the air. Kayla chose to embrace the live perƒormance without distractions, soak iȵ the strong lyrics, anḑ ȿavor BƬS’s fresh vocal performance in” Normαl. ” She recalls that she could think her tears welling up.
The hσsts exçhanged siȵcere thoughts with other fans, fostering α sense of community that simplყ BTS concerts you foster. Readįng wonder musįc like” Ƥied Piper” and” Boy with Love,” which caused ƫhe facility to eruρt in enjoყment, was an unforeseen show. Song performed” Iȵto the Sun” amid a spiral of confetti, which brought emotional thoughts and fan appreciation tσ tⱨe end σf thȩ perfσrmance. Thȩ hosts embraced each other as they swayed toward tⱨe Iast noƫes, appreciating the importance of the secoȵd. A fitting conclusion to a remarkable event was the subsequent lights show.
Make sure to follow and keep a assessment on Apple Podcasts and Spotify and observe the entire review above or wherever you listen to podcasts. Tⱨe Consequence Sⱨop noω hαs a Stanning BTS T-shirt in two tones, αs well as BTS rubber for sale. Please take some time to listen to all the fantastic Consequence Podcast Network exhibits.
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Public Discover Inviting Objections on Registration of AIPA as Performers’ Society
The Copyright Workplace, Authorities of India, has issued a public discover dated April 30, 2026, inviting objections and feedback from stakeholders on an utility filed by the All India Performers Affiliation (AIPA) searching for registration as a Performers’ Society beneath the Copyright Act. The appliance proposes to manage and shield performers’ rights throughout classes corresponding to actors, singers, musicians, and different performing artists, with a mandate extending globally. Stakeholders have been given a 45-day window from the date of publication to submit objections or feedback to the Registrar of Copyrights.
Learn public discover right here
Delhi Court docket Directs Saregama to Pay ₹5 Lakh to Singer Anamika Over Wrongful Tune Takedown
A Delhi Court docket has directed music big Saregama India Ltd. to pay ₹5 lakh in damages to singer Anamika for the wrongful elimination of her content material from YouTube. The courtroom discovered that Saregama had issued a copyright strike with out enough verification of possession, resulting in skilled and reputational hurt. The choose emphasised that misuse of copyright enforcement mechanisms by massive entities can unfairly stifle unbiased artists who depend on digital platforms for his or her livelihood.
Case Title: Ms. Anamika Sood v. Saregama India Ltd.
Quotation: CS (COMM) – Delhi District Court docket (2024/2025)
Karnataka Excessive Court docket Rejects Plea to Cancel CBFC Certificates for ‘Dhurandhar 2’
The Karnataka Excessive Court docket has dismissed a petition searching for the cancellation of the Central Board of Movie Certification (CBFC) certificates for the movie ‘Dhurandhar 2’. The petitioner had alleged that the movie’s script was a results of plagiarism, nevertheless, the Court docket has dominated that the CBFC’s function is primarily to certify content material for public exhibition primarily based on statutory tips and to not adjudicate copyright infringement or plagiarism disputes. The Court docket noticed that the petitioner ought to search applicable civil cures for copyright infringement as an alternative of difficult the certification.
Case Title: Aditya Dhar v. Santosh Kumar RS & Ors.
Bombay Excessive Court docket Restrains Santosh Kumar from Making Defamatory Plagiarism Claims In opposition to Aditya Dhar
Filmmaker Aditya Dhar has secured an interim injunction from the Bombay Excessive Court docket in opposition to Santosh Kumar, who had repeatedly alleged that Dhar plagiarized the script for the movie Dhurandhar. The Court docket noticed that Kumar’s public statements had been prima facie defamatory and brought on irreparable harm to Dhar’s skilled popularity. The defendant has been restrained from making additional allegations of script theft till the ultimate disposal of the defamation swimsuit.
ANI and PTI Settle INR 2 Crore Copyright Infringement Go well with in Delhi Excessive Court docket
The long-standing copyright authorized battle between information companies ANI and PTI has reached an amicable settlement. ANI had filed a INR 2 crore lawsuit alleging that PTI had unauthorizedly used its video footage. The Delhi Excessive Court docket recorded the Settlement Settlement which was entered into between the events, resulting in the withdrawal of the case.
Case Title: Asian Information Worldwide (ANI) v. Press Belief of India (PTI)
Delhi Excessive Court docket Closes Lawrence Bishnoi’s Plea In opposition to ‘Lawrence of Punjab’ After Centre’s Advisory
The Delhi Excessive Court docket has disposed of a petition filed by jailed gangster Lawrence Bishnoi searching for to remain the discharge of the docuseries Lawrence of Punjab. The courtroom famous that the Union Ministry of Data and Broadcasting had already issued an advisory to the OTT platform Zee5, directing it to not launch the content material because of potential public order dangers. For the reason that collection is presently on maintain following the federal government’s intervention, the courtroom held that the petition had turn out to be infructuous however granted Bishnoi liberty to strategy the courtroom if the standing modified.
Delhi Excessive Court docket Protects Bhuvan Bam’s Persona Rights In opposition to Deepfakes
In a major transfer for digital creators, the Delhi Excessive Court docket handed a john-doe order and has granted an ad-interim injunction in favor of YouTuber Bhuvan Bam to guard his persona and publicity rights. Bam approached the courtroom after deepfake movies and AI-generated content material utilizing his voice and likeness had been used for unauthorized industrial functions. The Court docket ordered the elimination of such content material from varied platforms, stating that celebrities have the precise to regulate the industrial exploitation of their id.
New E-Gaming Regulator Begins Operations with Give attention to Esports Registrations
The newly fashioned self-regulatory physique for India’s e-gaming sector has formally commenced operations, prioritizing the registration and verification of esports platforms. The regulator goals to determine a framework that distinguishes between video games of talent and video games of probability, making certain compliance with client safety and monetary transparency norms. This transfer is anticipated to convey much-needed readability and legitimacy to the quickly rising Indian gaming trade.
Madras Excessive Court docket Directs Separate Financial institution Account for ‘Dhruva Natchathiram’ Launch Proceeds
The Madras Excessive Court docket has ordered the makers of the delayed movie Dhruva Natchathiram to take care of a separate checking account for all revenues generated upon its launch. The Court docket order got here after a listening to regarding the excellent dues payable to collectors and buyers in relation to the movie. The Court docket directed {that a} portion of the theatrical and digital proceeds be deposited into this account to make sure that the claims of the assorted stakeholders are happy in a clear method.
Madras Excessive Court docket Refuses Anticipatory Bail in ‘Jana Nayagan’ Film Leak Case
The Madras Excessive Court docket has rejected an anticipatory bail plea by people accused of leaking a pirated model of the movie Jana Nayagan on-line earlier than its official launch. Emphasizing the severity of digital piracy and its influence on the movie trade’s economic system, the Court docket acknowledged that custodial interrogation may be essential to establish the supply of the leak and the community concerned within the unauthorized distribution.
Aman Gupta Strikes Delhi Excessive Court docket to Defend his Persona Rights
Aman Gupta, co-founder of ‘boAt’ and a well-liked determine on Shark Tank India, has filed a lawsuit within the Delhi Excessive Court docket searching for safety for his persona rights. The plea goals to restrain third events from utilizing his identify, picture, voice, or well-liked “Shark” catchphrases for industrial endorsements with out his consent. This follows a rising pattern of Indian entrepreneurs searching for authorized safeguards in opposition to the unauthorized industrial use of their public personas.
Bombay Excessive Court docket Quashes ‘Rasgulla’ Joke FIR In opposition to Shekhar Suman and Bharti Singh
The Bombay Excessive Court docket has quashed a hate speech FIR registered in opposition to actors Shekhar Suman and Bharti Singh for a joke involving the phrase “Rasgulla” made throughout a comedy present in 2010. The Court docket held that for an offense to be made out beneath Part 295A of the IPC (outraging non secular emotions), there should be “deliberate and malicious intent.” It noticed that humor in a comedy program, even when perceived as insensitive by some, doesn’t robotically equate to a legal try to insult a faith.
Case Title: Aman Gupta v. John Doe & Ors.
IAMAI Raises Alarm Over TRAI’s Proposed Regulation of OTT Platforms
The Web and Cellular Affiliation of India (IAMAI) has flagged issues concerning the Telecom Regulatory Authority of India’s (TRAI) try to manage Over-The-High (OTT) communication providers like WhatsApp and Telegram. In its submission, IAMAI argued that TRAI’s draft laws on spam and caller identification represent “jurisdictional overreach,” as OTT providers are ruled by the IT Act fairly than telecom legal guidelines. The trade physique warned that forcing OTTs to share proprietary information with telecom suppliers might violate constitutional protections.
Authorities On-line Content material Blocking Orders Have Doubled to 24,000
Knowledge as per information stories signifies that the Indian authorities’s orders to dam on-line content material beneath Part 69A of the IT Act have almost doubled previously 12 months, reaching roughly 24,000 requests. Notably, over 50% of those orders had been directed on the social media platform X (previously Twitter). The surge is attributed to heightened monitoring of content material associated to nationwide safety, public order, and misinformation. This pattern has sparked debates concerning the stability between state regulation and the elemental proper to free speech on digital platforms.
Madras Excessive Court docket Grants Anti-Piracy Injunction to Defend ‘Pati Patni Aur Woh Do’ Forward of Launch
The Madras Excessive Court docket granted an advert interim injunction in favour of Tremendous Cassettes Industries (T-Collection) to restrain web service suppliers and cable operators from any unauthorised broadcast of the unreleased movie Pati Patni Aur Woh Do, noting that such leakage might trigger “irreparable” or “irreversible” industrial hurt, particularly round its theatrical launch window. The Court docket balanced this with issues over the broad influence on intermediaries by directing the producer to indemnify affected events, and accordingly issued the injunction (topic to compliance with procedural necessities) till the following listening to date in June 2026, recognising each the urgency of anti-piracy safety and the necessity to safeguard reputable enterprise pursuits.
‘Hera Pheri’ Rights Dispute Escalates into Prison FIR Over Alleged Dishonest and Extortion
A protracted-standing copyright dispute surrounding the long-lasting Hera Pheri franchise has intensified after producer Firoz Nadiadwala filed an FIR in Mumbai alleging dishonest, defamation, and extortion over the remake rights of the unique Malayalam movie Ramji Rao Talking, on which Hera Pheri is predicated. Nadiadwala claims he lawfully acquired the remake and multi-language rights in 2000, however sure producers have repeatedly contested possession, issued authorized threats, and allegedly demanded cash and a share in earnings whereas spreading deceptive claims to disrupt his rights and initiatives. The dispute, which dates again over twenty years and has resurfaced with recent authorized notices and courtroom proceedings, now raises severe questions round competing copyright claims and will influence future developments like Hera Pheri 3.
Madras Excessive Court docket Grants Pre-Launch Anti-Piracy Injunction to Defend ‘Ek Din’
The Madras Excessive Court docket granted an pressing advert interim injunction in favour of Aamir Khan Productions to restrain web service suppliers and cable operators from any unauthorised broadcast or dissemination of the movie Ek Din forward of its launch, recognising that pre-release piracy might trigger “irreversible harm” to the movie’s industrial worth. Whereas acknowledging the broad scope of such anti-piracy aid and its potential influence on intermediaries, the Court docket balanced pursuits by directing the producer to indemnify affected events, and ordered that the injunction would proceed till the following listening to date in June 2026.
The Delhi Excessive Court docket dismissed copyright infringement allegations by creator Shivsundari Bose in opposition to David Davidar, holding that there was no proof to show that his novel The Home of the Blue Mangoes plagiarised her manuscript Golden Stag. The Court docket famous that similarities arising from a shared theme or setting don’t represent plagiarism and located that the variations between the 2 works outweighed any alleged overlap. It additionally noticed that Bose didn’t substantiate key claims, together with proof of submission of her manuscript to the writer, whereas concurrently rejecting Davidar’s defamation declare in opposition to her, concluding that her communications had been made in good religion thereby bringing an finish to a long-running dispute with no aid granted to both aspect.
We now have already regarded on the 4 main Okay-pop companies within the earlier weblog posts. Three of them – the so-called “Large Three” – have been based within the mid-Nineteen Nineties. Large Hit Leisure adopted in 2005 and rose to grow to be the market chief due to BTS. Within the subsequent 4 weblog posts, we’ll now look behind the scenes at these companies to realize a greater understanding of the financial system behind Okay-pop. Partly 5 we begin with SM Leisure.
The Economics of Okay-pop – Half 5: SM Leisure
The financial rise of SM Leisure
SM Leisure and its founder Lee Soo-man are the true innovators behind the Okay-pop manufacturing system. SM Leisure solid youngsters modelled on the US boy and woman teams of the Nineteen Nineties, skilled them extensively by means of a rigorous, multi-year trainee programme, and positioned them in the marketplace as a particular model. This idea proved to be an enormous industrial success. As early as 2000, SM Leisure was in a position to go public in South Korea and has been listed on the KOSDAQ know-how index ever since.[1] With contemporary capital, SM was in a position to start its growth within the Southeast Asian area. As early as January 2001, a three way partnership was established with the Japanese indie label Avex Trax, which not solely noticed the primary Okay-pop solo artist, BoA, marketed on the Japanese market, but in addition led to the founding of SM Leisure Japan, the corporate’s first abroad department, through which the Japanese TV manufacturing firm Yoshimoto Kogyo Holdings Co. additionally held a stake.[2]
The beginning of the second technology of Okay-pop artists in 2003 was additionally formed by SM Leisure with acts such because the boy band SHINee and the woman teams Ladies’ Technology and f(x).[3] Essentially the most vital facet of the second technology of Okay-pop was its growth into neighbouring Asian international locations. SM Leisure was already energetic in Japan, and in 2008 China was to comply with swimsuit with the launch of the boy band Tremendous Junior-M, a Mandarin-speaking sub-group of the Korean group Tremendous Junior, who made their debut look on the Chinese language Music Awards in April 2008, performing the music “U” from their debut album “Me”.[4] This established Chinese language-language Okay-pop in China and paved the way in which for additional productions.
This idea of splitting a supergroup into Korean- and Chinese language-speaking sub-groups was additionally utilized in 2012 to the 12-member boy band EXO, which was positioned as EXO-Okay (Okay stands for Korean) and EXO-M (M stands for Mandarin) on the Korean and Chinese language markets, respectively, and have been promoted individually.[5] This progressive advertising idea, developed by SM founder Lee Soo-man, was additionally an enormous industrial success and was copied by different Okay-pop firms.[6]
In 2016, SM Leisure broke new floor with the creation of the boy band NCT, an acronym for Neo Tradition Know-how. The fundamental thought was to create a super-group with an infinite variety of members, which may very well be divided into sub-groups as required and tailored to the wants of various markets. Particularly, NCT U[7] was launched to the general public in April, NCT 127[8] in July, and NCT Dream[9] in August, every with their respective debut releases. The goal of this new technique was to tailor the completely different boy bands to market situations and thus higher attain followers. SM Leisure founder Lee Soo-man developed this new technique himself and offered it to the general public in January 2016 throughout a presentation in Seoul entitled “SMTOWN: New Tradition Know-how 2016”.[10]
New technique and energy struggles behind the scenes
This mirrored SM Leisure’s new strategic route. The corporate was to be energetic not solely in Okay-pop manufacturing, but in addition in all areas of worth creation surrounding the popular culture phenomenon. On 3 February 2023, a video entitled “SM 3.0: Producing Technique Multi ‘Manufacturing Centre/Label’ System” was revealed on YouTube, through which the 2 new CEOs, Lee Sung-soo and Tak Younger-jun, dressed correctly in fits and ties and seated at a desk in entrance of an uncovered brick wall, introduced with a bow that the earlier music manufacturing system, which had been totally tailor-made to SM founder Lee Soo-man, was to get replaced by a brand new system that includes numerous manufacturing groups, some working in-house and others introduced in from exterior.[11] Nonetheless, this multi-production centre, which the 2 CEOs offered, was only one cornerstone of the brand new technique. As well as, additional in-house labels have been to be established and collaboration with exterior labels strengthened internationally. Central to the plan, nevertheless, was the institution of the corporate’s personal music publishing arm, which was meant to bundle music rights extra successfully and monetise them extra efficiently.[12]
Nonetheless, SM Leisure’s strategic reorientation will also be interpreted as a direct assault on Lee Soo-man, who, regardless of stepping down from the board, sought to retain inventive management inside the group in his function as government producer. Though the 2 CEOs highlighted the SM founder’s achievements within the video, the brand new “SM 3.0” technique subtly sidelined him from the inventive manufacturing processes and in the end from the corporate itself.
Lee Soo-man‘s response got here rapidly. On 6 February 2023, simply 5 days after the YouTube video was launched, it was introduced that Hybe Company, SM Leisure’s foremost rival, had acquired a 14.8 per cent stake within the firm for the equal of US $334 million.[13] This primary step in the direction of a hostile takeover had solely been attainable as a result of Lee Soo-man had bought a big portion of his stake in SM to Hybe.[14] Nonetheless, two days earlier, in settlement with SM, South Korea’s largest leisure group, Kakao, had acquired a 9.04 per cent stake in SM for US $172.8 million, thereby turning into the corporate’s second-largest shareholder.[15] Simply someday later, Lee Soo-man filed an injunction in opposition to SM Leisure over the difficulty of latest shares and convertible bonds in favour of Kakao, stating that the deal had been concluded with out his consent as the most important shareholder and was due to this fact “unlawful”.[16]
Hybe’s acquisition triggered a bidding battle that might decide the destiny of SM Leisure. Initially, SM and Kakao have been at a drawback as a result of, on 3 March 2023, a court docket had issued an injunction in opposition to the deal between Kakao and SM.[17] Kakao then went on the offensive and made a proposal to shareholders to buy 35 per cent of the corporate’s shares for US $966 million, thereby rising its stake to 39.87 per cent.[18] Surprisingly, on 24 March 2023, Hybe withdrew from the bidding battle, arguing that it didn’t wish to harm shareholder worth, and introduced its intention to promote its stake in SM to Kakao.[19] On 28 March 2023, Kakao fulfilled its announcement and bought 35 per cent of SM’s shares. Hybe then bought half of its stake in SM to Kakao, retaining an 8.81 per cent stake within the firm,[20] which have been ultimately bought to the Chinese language leisure group Tencent on 30 Might 2025 for round US $180 million.[21] This made Tencent the second influential co-owner of the Okay-pop group, following the e-commerce large Alibaba, which had already acquired a 4 per cent minority stake in SM Leisure in February 2016.[22]
The reason for why Hybe withdrew from the bidding battle is straightforward: by means of this manoeuvre, SM founder Lee Soo-man had secured his reinstatement as head of the A&R division at SM Leisure, thereby regaining inventive management over the manufacturing course of.[23] The 2 younger CEOs who had staged the revolt, nevertheless, have been changed by the chief monetary officer, Jang Cheol-hyuk,[24] which was now tasked with implementing the “SM 3.0” technique. As a primary step, Kreation Music Rights was established in August 2023 as an in-house music publishing division.[25] The day earlier than, a brand new abroad department – SMKEA – was additionally established within the US in collaboration with Kakao.[26] The Okay-pop group thus continued the worldwide growth it had been pursuing for years, which, along with branches in Japan, China and Singapore, now additionally included a department in North America.
The enterprise efficiency of SM Leisure
An evaluation of SM Leisure’s organisational construction reveals that the group will not be a conventional main music label primarily based on the Western mannequin, however reasonably an built-in leisure conglomerate that developed from a Okay-pop artist company. The 2021 annual report signifies that SM Leisure had 37 affiliated firms, six of which have been listed on the inventory alternate. As well as, SM Leisure held shares in an extra 19 firms,[27] numerous content material manufacturing firms (TV, radio, theatre, software program, print, digital actuality, and many others.), in addition to branding and promoting companies, an architectural agency and a property developer, and a enterprise capital agency; it even operates a sequence of comfort shops to monetise the manufacturers of the Okay-pop stars beneath contract. SM Leisure thus recognised the worth of built-in advertising of all sorts of rights at an early stage and can also be represented internationally with branches in Japan, South-East Asia, the USA and Sweden.
Determine 1: Income, value and revenue traits at SM Leisure Group, 2014-2024
Supply: After SM Leisure Enterprise Stories 2019-2021 (translated with DeepL) and SM Leisure quarterly stories 2021-2024 (in English)
SM Leisure’s progress in recent times can also be mirrored within the group’s income efficiency. As proven in fig. 1, there was a pointy rise in income in 2018, primarily because of the acquisition of stakes in several firms, which subsequently led to the formation of the SM Life Design Group. The combination of SM Tradition & Content material Co. Ltd. into the group’s constructions, which was accomplished on the finish of 2017, has additionally boosted turnover.[28] The non permanent decline in gross sales in 2020 was because of the impression of the COVID-19 pandemic, which precipitated revenues from the live performance section specifically to plummet. This made the following rise in gross sales all of the extra dramatic. The live performance enterprise recovered in 2022, however contributed solely KRW 23 billion to whole income of KRW 851 billion. It was not till 2023 and 2024 that the live performance division regained momentum, with income of KRW 77 billion and KRW 123 billion respectively. A pointy improve of 155 per cent between 2021 and 2024 was recorded within the merchandising and licensing enterprise, which in 2024 contributed KRW 169 billion extra to whole income than the live performance section.
Nonetheless, speedy progress and diversification into different sectors have additionally led to a rise in expenditure (see fig. 5.4). Between 2017 and 2024, whole expenditure grew by 155 per cent from KRW 354 billion to KRW 902 billion, primarily as a result of rising value of gross sales, which in 2024 have been 174 per cent larger than in 2021. Advertising and marketing and overhead prices have additionally doubled throughout this era. The primary value drivers listed here are personnel bills. Between 2019 and 2024 alone, the variety of staff in full-time equivalents rose from 493 to 723.[29]
This additionally had an impression on revenue efficiency (see fig. 1). Though revenue from working actions rose to KRW 114 billion in 2023 following a decline within the coronavirus yr of 2020, however in 2024 there was a 23 per cent decline in earnings, which pushed internet revenue all the way down to virtually zero, primarily as a result of losses at related firms, notably at SM Tradition & Content material Co.[30]
This highlights the vulnerability of SM Leisure, which has grown quickly in recent times and is struggling to combine the acquired firms and investments into the group construction. The “SM 3.0” technique talked about earlier is meant to assist with this, with all enterprise divisions being oriented in the direction of the creation of cultural values. The goal is to create a unifying framework for the very various enterprise divisions. As advantageous as SM Leisure’s broad vary of choices is, integrating them is equally troublesome. The corporate’s future success will due to this fact rely closely on whether or not it succeeds in higher integrating the varied elements of the enterprise and focusing them on a standard aim.
Endnotes
[1] Yang, Hong-mo. 2000. Garosu.com and 4 different firms start buying and selling on KOSDAQ on the 27th. Naver Information, 25 April. https://n.information.naver.com/mnews/article/015/0000210471?sid=101. Translated with DeepL. Accessed 28 Jan 2026
[2] Gil, Deok. 2001. SM Leisure “Concentrating on the World Music Album and Music Video Market”. Naver Information, 7 March. https://n.information.naver.com/mnews/article/015/0000345241?sid=102. Translated with DeepL. Accessed 28 Jan 2026
[3] See for instance Atkin. Okay-Pop. p 28
[4] Garcia, Cathy Rose A. 2008. Tremendous Junior-M Debuts in China. The Korea Occasions, 8 April. https://www.koreatimes.co.kr/way of life/people-events/20080408/super-junior-m-debuts-in-china. Accessed 28 Jan 2026
[5] Seabrook, John. 2012. Manufacturing unit Ladies. The New Yorker, 1 October. https://www.newyorker.com/journal/2012/10/08/factory-girls-2. Accessed 28 Jan 2026
[6] Ibid.
[7] Bahk, Eun-ji. 2016. SM’s new Okay-pop band NCT U to debut this week. The Korea Occasions, 4 April. https://www.koreatimes.co.kr/leisure/shows-dramas/20160404/sms-new-k-pop-band-nct-u-to-debut-this-week. Accessed 28 Jan 2026
[8] Ang, Estee. 2016. (UPDATE) #NCT127: SM Leisure Unveils Members Of New NCT Sub-Unit. Hybe, 4 July. https://hype.my/nct127-sm-entertainment-unveils-members-of-new-nct-sub-unit/. Accessed 28 Jan 2026
[9] Moon Wan-sik. 2016. NCT DREAM to debut their first single “Chewing Gum” on “M Countdown” on the 25th. Star Information, 19 August. https://m.entertain.naver.com/now/article/108/0002548916. Translated with DeepL. Accessed 28 Jan 2026
[10] Jung, Min-kyung. 2016. SM Leisure’s subsequent boy band to have ‘limitless’ members. The Korea Herald, 27 January. https://www.kpopherald.com/article/834265. Accessed 28 Jan 2026
[11] SMTown. 2023. SM 3.0: Producing Technique – Multi ‘Manufacturing Middle/Label’ System. YouTube, 3 February. https://www.youtube.com/watch?v=n4WSs3ebprw&checklist=PL_ndMPzmGNt3v3RUs1K20LOyG8oec472d. Accessed 30 Jan 2026
[12] Ibid.
[13] Stassen, Murray. 2023. HYBE has now spent $600m+ in a single week, because it buys 14.8% stake in Okay-Pop rival SM Leisure for $334m. Music Enterprise Worldwide, 10 February. https://www.musicbusinessworldwide.com/hybe-acquires-14-8-stake-in-k-pop-rival-sm-entertainment-for-334m1/. Accessed 30 Jan 2026
[14] Ibid.
[15] Dalugdug, Mandy, 2023. South Korea’s Kakao buys 9.05% stake in Okay-Pop large SM Leisure value $172.8m. Music Enterprise Worldwide, 7 February. https://www.musicbusinessworldwide.com/south-koreas-kakao-buys-9-05-stake-in-k-pop-giant-sm-entertainment-worth-172-8m/. Accessed 30 Jan 2026
[16] Herold Muse. 2023. Lee Soo-man threatens authorized motion in opposition to SM Leisure: ‘Kakao’s acquisition of SM shares is illegal’ (official assertion). 7 February. https://www.heraldmuse.com/article/3056777. Translated with DeepL. Accessed 30 Jan 2026
[17] Dalugdug, Mandy, 2023. In victory for HYBE, SM Leisure ends Kakao deal as court docket blocks agency from issuing new shares. Music Enterprise Worldwide, 6 March. https://www.musicbusinessworldwide.com/in-victory-for-hybe-sm-entertainment-ends-kakao-deal-as-court-blocks-firm-from-issuing-new-shares/. Accessed 30 Jan 2026
[18] Dalugdug, Mandy. 2023. HYBE’s SM Leisure takeover plan falls quick, Kakao launches $960m provide for controlling stake. Music Enterprise Worldwide, 7 March. https://www.musicbusinessworldwide.com/hybes-sm-entertainment-takeover-plan-falls-short-now-kakao-launches-960m-offer-for-controlling-stake/. Accessed 30 Jan 2026
[19] Ingham, Tim. 2023. HYBE pulls out of bid to accumulate 40% stake in SM Leisure: ‘The market has been exhibiting indicators of overheating as a result of our competitors with Kakao.’ Music Enterprise Worldwide, 7 March. https://www.musicbusinessworldwide.com/hybes-sm-entertainment-takeover-plan-falls-short-now-kakao-launches-960m-offer-for-controlling-stake/. Accessed 30 Jan 2026
[20] Yim, Hyunsu. 2023. Kakao’s stake in Okay-pop company SM climbs to 40%, HYBE retains 8.8%. Reuters, 28 March. https://www.reuters.com/enterprise/media-telecom/kakao-reaches-40-stake-k-pop-agency-sm-hybe-keeps-88-2023-03-28/. Accessed 30 Jan 2026
[21] Stassen, Murray. 2025. HYBE is promoting its complete stake in Okay-Pop rival SM Leisure to Tencent Music for almost $180m. Music Enterprise Worldwide, 27 Might. https://www.musicbusinessworldwide.com/hybe-to-sell-entire-stake-in-k-pop-rival-sm-entertainment-to-tencent-music-for-nearly-180m/. Accessed 30 Jan 2026
[22] Kang, John. 2016. Why Alibaba Purchased $30M Stake In Okay-Pop Large SM Leisure, Residence To EXO And Ladies’ Technology. Forbes, 11 February. https://www.forbes.com/websites/johnkang/2016/02/11/why-alibaba-bought-30m-stake-in-k-pop-giant-sm-entertainment-home-to-exo-and-girls-generation/#7e130efda556. Accessed 30 Jan 2026
[23] Lee, Eun-young. 2023. Former SM CEO Lee Sung-soo, who pledged to step again, returns to C-level place. ChosunBiz, 14 April. https://n.information.naver.com/mnews/article/366/0000893605. Translated with DeepL. Accessed 30 Jan 2026
[24] Kwaak, Jeyrup S. 2023. SM Leisure Appoints New CEO & Board as Okay-Pop Large Seems to be to the Future. Billboard, 31 March. https://www.billboard.com/professional/k-pop-label-sm-entertainment-appoints-new-ceo-board/. Accessed 30 Jan 2026
[25] Dalugdug, Mandy. 2023. SM Leisure to launch music publishing subsidiary, Kreation Music Rights. Music Enterprise Worldwide, 10 August. https://www.musicbusinessworldwide.com/sm-entertainment-to-launch-music-publishing-subsidiary-kreation-music-rights/. Accessed 30 Jan 2026
[26] Schneider, Marc. 2023. SM Leisure and Kakao Launch Joint Division in North America. Billboard, 1 August. https://www.billboard.com/professional/sm-entertainment-kakao-north-america-launch-partnership/. Accessed 30 Jan 2026
[27] SM Leisure. 2022. SM Leisure Enterprise Report 2021. pp 328-332 (translated with DeepL)
[28] SM Leisure. 2022. SM Leisure Enterprise Report 2021., p 14 (translated with DeepL)
[29] SM Leisure. 2022. SM Leisure Sustainability Report 2021. p 52 and SM Leisure. 2025. SM Leisure Sustainability Report 2024. p 90
