SM will overcome its crisis by giving artists busy schedules in 2023
In 2023 there is no rest for the artists of SM Entertainment.
On March 15, media company 일간스포츠 reported on SM Entertainment’s unexpected plan of action amid the crisis. The company says it is in the process Relancer “SM 3.0”.
She says becoming one is a leap forward “Global Entertainment Company”.
Launch of “SM 3.0”: SM artists are to play a more central role in the future development of SM
Ever since Lee Soo Man was removed from the board of directors, there has been talk of “SM 3.0”. Previously, the contract between Like Planning (Lee Soo Man’s own company) and SM had to be prematurely terminated at the end of December last year.
일간스포츠 said that “SM 3.0” breaks music production rules of former head producer Lee Soo Man with a new strategy in which domestic and overseas producers work independently. This strategy aims to diversify the musical styles of SM artists.
Specifically, SM intends to increase the number of active artists to more than 21 by 2025. The company also aims to release more than 40 albums, achieve sales of more than 27 million and organize about 400 concerts a year. The SM 3.0 is expected to bring the company 500 billion won in profit and raise the share value to 360,000 won by 2025.
In addition, the company’s management plans to accelerate the promotion of “SM 3.0” by shaking hands with cocoa. Daum reported that Kakao bought 1.23 million shares and 1.14 million shares through convertible bonds, making it SM’s second-largest shareholder with 9.05% equity (around $171 million).
Currently, despite the company’s internal turmoil, SM artists have busy schedules. Earlier this year, aespa organized the first tour of her career, followed by a concert for singer BoA’s 20th birthday.
In March, Onew (SHINee) and Kai (EXO) released their solo album. Also, Super Junior just finished the Super Show 9: Road concert on March 11th.
Artists’ busy schedules
Going forward, BoA will continue with their concert “The BoA: Musicality” next month. TVXQ is preparing for the “TVXQ Live Tour 2023: Classic” in Japan, which will last until June.
In a recent interview, 4 members of SHINee shared that the group will be making a comeback with a full group to celebrate the 15th anniversary of their debut. Meanwhile, the two members Onew and Minho will hold their respective solo concerts and fan meetings in Japan.
On January 1st, leader Suho delighted fans by announcing EXO’s official comeback this year. The Idol posted a photo of the members announcing they will be returning as a full group in 2023.
In April, the group held a fan reunion titled “EXO’ Clock” to celebrate the 11th anniversary of their debut. Apart from the music, the 4 members Xiumin, DO, Sehun and Suho keep working on their performances in Kdramas.
According to 일간스포츠, Red Velvet, aespa and NCT are scheduled to hit the international market next year. The source said that Red Velvet was the only Korean group to take part in the Primavera Sound 2023 music festival in Spain in June. NCT Dream will continue their The Dream Show 2: In a Dream concert through May. WayV plans to hold fan meetings in the Philippines and Thailand.
SM also announced that aespa will be attending the Governors Ball Music Festival 2023 in New York and the Outside Lands Music & Arts Festival in San Francisco in June and August respectively. At the same time, the group will release a new album in early May, after a delay due to an ongoing management dispute.
According to 일간스포츠, SM heralds a new era in which artists take center stage while their management company retreats behind the curtain.
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