The richest K-pop agencies in South Korea are now not topped by the Big Three agencies or three giant agencies, namely SM Entertainment, YG Entertainment and JYP Entertainment. So who is the highest?
They are still in the Top 5 list, but not at number one. The reason is, now the position of the richest K-pop agency is pinned on Hybe Corporation which debuted worldwide idol groups starting from NewJeans, LE SSERAFIM, TXT, to BTS.
The role of agencies in the K-pop industry is indeed very important. In fact, without them it would be difficult to make a group known to South Korea, let alone the world.
Apart from HYBE Corporation with its artists, agencies from the early generation of K-pop were also successful in debuting idols that were known globally. Call it EXO and NCT (SM Entertainment), BIGBANG and BLACKPINK (YG Entertainment), TWICE and Stray Kidz (JYP Entertainment).
The role of agencies is quite vital. They conducted auditions, idol seed training, debuted, and carried out a series of promotions.
So, which are the richest K-pop agencies in South Korea? The following is the information as reported by Sportskeeda, Sunday (29/1/2023).
The Richest South Korean Kpop Agency
1. HYBE Corporation – IDR 169 trillion
With a market capital of 11.3 billion United States Dollars (US) or the equivalent of Rp. 169 trillion, HYBE is the richest K-pop agency in 2022. Initially HYBE Corporation was formed as BigHit Entertainment by Bang Si Hyuk. At that time, HYBE only managed BTS, which is now the most successful idol group in the world.
HYBE (Big Hit Ent.) was founded in February 2005, and signed with its first band, 8Eight, in 2007. Unfortunately, the company was on the verge of bankruptcy for several years until 2013, when BTS debuted. The seven-piece group did not become an immediate hit, but have gained global recognition through their music over the past few years.
HYBE has several artists under its subsidiaries. There are several groups under his wing including BTS, TXT, Enhypen, and SEVENTEEN.
2. SM Entertainment - IDR 23.5 trillion
Founded by Lee Soo Man in 1989, SM Entertainment is the top and most successful entertainment company in South Korea. Due to Lee introducing a perfect and well-maintained training system, most of their early groups had great success.
Currently, SM Entertainment has a market capital value of US$1.57 billion or around Rp.23.5 trillion. Making it the second richest K-pop company in 2022. With partnerships and investments from companies such as Alibaba and Tencent, SM Entertainment has captured a large portion of the Chinese market.
The agency manages popular artists such as Girls' Generation, Super Junior, EXO, aespa, Red Velvet, TVXQ, SHINee, NCT, and many more. In addition, Soo Man is also credited for the debut of popular first gen groups such as S.E.S., Shinhwa, and H.O.T.
3. JYP Entertainment – IDR 23.4 trillion
JYP Entertainment is known for producing royal girl groups. The agency founded by Park Jin Young can maintain its position in the list of the top three richest K-pop companies in 2022. The label currently holds a market capital of 1.56 billion US dollars or around IDR 23.4 trillion, and is able to compete with successful artists such as TWICE, Stray Kids, 2PM, ITZY, and former boy group, GOT7.
Founded by the first generation K-pop idol, Park Jin Young or JYP in 1997, JYP Entertainment signed its first artist in the same year. The company started gaining attention and profit with Rain's debut in 1999. Later, the company also debuted the Wonder Girls, who became the first K-pop group to ever chart on the Billboard Hot 100.
JYP Entertainment currently manages several artists, soloists, and actors, the agency simultaneously overseeing its various divisions and sub-labels.
4. YG Entertainment – IDR 12.95 trillion
This agency houses artists such as BLACKPINK and BIGBANG, YG Entertainment is in fourth place on the list of the richest K-pop companies in 2022. YG Entertainment, which was previously in the top 3, now has a market capital of 865 million US Dollars or around IDR 12.95 trillion.
The agency was founded by Yang Hyun Suk, member of Seo Taiji and Boys, in March 1996, with his brother Yang Min-suk. He started launching artists in the first generation of Kpop, and had success with the hip-hop group 1TYM. YG's success chart continued to increase for several years until in 2018, their share price plummeted due to various scandals.
The company is finally getting back on track by focusing on its artists like BLACKPINK, Winner, BIG BANG, iKon, Sechs Kies, Treasure, and many others. The agency also manages soloists, actors, and artists under its subsidiary.
5. Cube Entertainment - IDR 3.94 trillion
CUBE Entertainment is among the top five richest K-pop companies with a market capital of US$263 million or around Rp.3.94 trillion in 2022. This diversified company was founded in August 2006 by Hong Seung Sung alias Somin Hong, former president of JYP Entertainment.
He later founded his own independent label and debuted first-generation hit groups, 4Minute and Beast. CUBE Entertainment is currently known for managing Kpop groups such as BTOB, (G)I-DLE, Pentagon, Lightsum, and others.
The company is primarily known for producing self-composed idols, event management labels, music production companies, and concert production companies. /celebrities.id
