What Happened Between GFriend and Big Hit After Source Music Acquisition?
GFriend, a prominent K-pop girl group, had a fascinating journey following the acquisition of Source Music by Big Hit Entertainment, which later rebranded as HYBE Corporation. As of August 2023, GFriend's story is one of transformation and continuation rather than complete dissolution.
The Acquisition and Continuation of Activities
GFriend, originally a Source Music artist group, was under the umbrella of Big Hit Entertainment after Source Music was acquired in 2020. Despite the acquisition, GFriend continued to operate under the Source Music label. The continuity of their activities under the same label ensured that the group's work and identity remained stable during this period of transition.
Disbandment and Individual Career Pursuits
In May 2021, GFriend announced their disbandment as a group, which officially took place in July 2021. The group's decision to disband aligned with the terms of their contract, signaling a natural evolution in their career path. The members of GFriend pursued individual careers after the disbandment, with some signing with new agencies and embarking on solo projects.
No Acquisition of GFriend as a Group
Since GFriend's disbandment, there has been no significant news suggesting that Big Hit or HYBE is planning to acquire the group as a collective entity. The focus remains on the individual career developments of the former GFriend members rather than any reformation of the group. For the most up-to-date information post-August 2023, it is advisable to check current news sources for any new developments.
Source Music as a Subsidiary
The actual acquisition involved Source Music becoming a subsidiary within HYBE Corporation. This means that Source Music remains an autonomous label under the larger umbrella of Big Hit Entertainment. Under this arrangement, all artists managed by Source Music, including GFriend, are still considered Source Music artists and are managed by the same team. This structure preserves the identity and operations of Source Music as a functional entity.
Collaborative Growth and Mergers
The consolidation of Source Music into Big Hit Entertainment was not a complete absorption of the company's assets and artists. Instead, it represented a strategic move where the company leader of Source Music is a friend of Big Hit's leadership, leading to a collaborative expansion. This merger allowed both companies to leverage their strengths and potentially explore new opportunities in the industry.
The relationship between GFriend and Big Hit after the acquisition is an interesting case study in the dynamics of K-pop industry consolidation. It highlights the importance of maintaining artist identities and the strategic benefits of collaborative growth within the entertainment industry.
For more information on GFriend, Big Hit Entertainment, and the logistics of K-pop industry acquisitions, continuing to follow industry news and reputable sources will provide the most accurate and up-to-date insights.