On July 29th, 2019, Big Hit Entertainment finalized the acquisition of Source Music, home to girl group GFriend. It was revealed that Source Music would basically continue as a subsidiary under Big Hit Entertainment with their current unique color and style, while Big Hit Entertainment would only support them with the management. As was reported by South Korea media, Source Music will soon move to Big Hit’s new headquarter in Yong San in 2020.
After the news of Big Hit Entertainment’s acquisition of Source Music spread widely, many financial specialists began their work to predict the stock of the company. It was reported that the Big Three agencies, JYP, SM, and YG’s stock price have remarkably decreased. This event is predicted to change the K-Pop scene. The Big Three are being threatened by the strong growth of Big Hit Entertainment. BTS’ agency is in the middle of expanding and re-structuring. With BTS, Tomorrow X Together, GFriend, Big Hit Entertainment totally has the chance to rise and rule K-Pop in the future. The Korean media revealed that Big Hit Entertainment’s expansion does not stop there, they are still discussing the acquisition of another agency, which is home to a famous boy group and a trot singer, in 2020.
Interaction Between the Staff and the Artists
Since GFriend is the only artist under Source Music, the staff has a tight bond and strong relationship with the girl group, especially with the manager.
GFriend is known for being friendly and close to their manager and often playing games together.
Leader Sowon was once seen playing a video game with their manager. There are also cute interactions between the manager and GFriend members as he tried to get the members offstage during a fan signing event.
Reason Why There are No Male Trainees in The Company
On August 28th, 2019, it was revealed that a trainee of Source Music, Kim Hyeon-bin had officially left the agency. It was also revealed that one of the reasons might be because of how Source Music has plans of debuting a new girl group and so they had decided to let all of their male trainees go.
Kim Hyon-bin gained public attention after participating in the Mnet survival program Produce X 101. However, he ranked #30 as of episode 11 and was eliminated from the show. Despite leaving the company, Kim Hyon-bin will continue to go for another audition and plans to continue training as a K-Pop idol.
Source Music has routinely opened audition to seek potential trainees. The agency has announced the audition information through its official website, Facebook and Twitter account.
SOURCE MUSIC AUDITION APPLICATION FORM 👉 https://t.co/wh6IyWTjA9
— 쏘스뮤직 오디션 (@source_audition) September 21, 2016
And in 2019, South Korean media reported that Source Music and Big Hit Entertainment would be joining hands together to debut a new K-Pop girl group through a large scale global audition. On September 4th, 2019, Big Hit Entertainment stated that the two companies plan to debut a new girl group in 2021 through PLUS GLOBAL AUDITION.
PLUS GLOBAL AUDITION took place from October 5th to October 27th, 2019, in 16 places from different parts of the world. For those who are really interested in being part of the companies’ talent should definitely think about this rare opportunity.
Connection With Big Hit Entertainment
After the acquisition of Source Music was announced by Big Hit Entertainment, many people became curious about the two companies’ relationship from the past until now. Big Hit Entertainment and Source Music have a long history of partnerships as both agencies previously co-managed the now-disbanded groups Glam and 8Eight.
CEO of Big Hit Entertainment, Bang Shi-hyuk said: “A shared philosophy behind artist promotion and management was the main drive that brought Big Hit and Source Music together. Since we know each other so well, we expect the acquisition to be a success.“ CEO of Source Music, So Jung-jin also has shared, ”I believe this to be a prime opportunity for achieving the next level of excellence for the artists, trainees and members of the label. We will strive to provide even more amazing content to our fans.”
In the past, both CEOs of Big Hit Entertainment and Source Music have never publicized their close friendship. However, K-Pop fans seem to know about the relationship between them. Bang Shi-hyuk and So Jung-jin have been friends since the early days of their agencies and have helped each other out through hard times.
BTS and GFriend were featured in a campaign music video in 2016. GFriend is the only girl group to have ever starred in a CF with BTS. Their comeback dates are usually close to each other, and their concepts do have things in common. After the acquisition of Source Music, fans are excited about the collaborations and interaction between these two groups.