K-pop boy band BTS’ agency to launch new global idol group
Big Hit Entertainment, the South Korean management agency of BTS, the internationally renowned K-pop boy band, has teamed up with the country’s entertainment giant, CJ E&M, to launch an idol band on the global music scene
The two firms had established a joint venture named Belif Lab, and aimed to unveil a new K-pop band in 2020, CJ said on Monday.
About 7 billion won (US$6.16 million) has been invested in the joint venture. Big Hit’s CEO Bang Si-hyuk, who produced BTS, will be in charge of creating the band and producing its music.
The new company will host rounds of auditions in South Korea, the United States, Japan and other foreign countries, starting on March 30, to recruit members for the planned group.
The partnership will combine Big Hit's expertise in the K-pop and global music scenes – proven with the sensational international success of BTS, which has enjoyed a sold-out world tour and two US Billboard chart-topping albums – with CJ E&M's expansive contacts in the areas of record circulation and concert organisation.
“The main business field for [Belif Lab] is entertainment and media [content] based on intellectual property rights,” Belif Lab chief Kim Tae-ho said.
“We will come up with results that live up to the market expectation as this project is led by the top local content and entertainment firms.”
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Big Hit Entertainment, which manages the seven-member group, and entertainment giant, CJ E&M, team up to form band by 2020