LOEN Entertainment has decided to invest into Starship Entertainment.
On December 18, LOEN announced, “LOEN has decided to invest in 70% of Starship’s shares.”
LOEN sources explained this decision by saying, “After deciding to branch out to multiple labels back in September, we have been researching influential agencies to invest in. We saw that Starship has excellent content, production and artist management, which is how we came to this decision.”
Through this investment, LOEN hopes to raise the competition for their artist management and strengthen their K-Pop business system as well as take a step closer to entering the global market.
Starship Entertainment’s principal management will not change and will keep their own color as an independent label. Meanwhile, they will be working with LOEN for things like content production, and marketing to bring forth a good synergy effect.
LOEN continued, “We will continue to create opportunities to work with other producers and agencies that are influential. With the ‘separate but together’ concept, each label will maximize their own creative colors as they work with us for better content, business and development of K-Pop so we can actively pursue a united global business in the overseas market as well.”
Meanwhile, Starship Entertainment is home to SISTAR, K.Will and Boyfriend.