SM Entertainment reveals plans to debut 3 new teams in 2023 + release 41 new albums

[My Everything]

On February 3, SM Entertainment announced the first part of its business plan for 2023, 'SM 3.0: IP Strategy - Multi 'Production Center/Label' System'.

On this day, SM Entertainment co-CEOs Lee Sung Soo and Tak Young Joon explained the agency's ambitious plan to launch phase 3.0 of SM Entertainment. First, Lee Sung Soo described phase 1.0 as the era from 1996 through the late 2000's, when singer/producer Lee Soo Man first founded SM Entertainment, then went on to launch successful artists like H.O.T, BoA, TVXQ, Super Junior, Girls' Generation, and SHINee. Phase 2.0 was described as the era from the 2010's through 2022, when producer Lee led the creation of artists like EXO, Red Velvet, NCT, and aespa. 

CEO Lee Sung Soo then announced that from 2023 onward, SM Entertainment will be entering its phase 3.0. Broadly, this phase looks to expand SM Entertainment's IP creation and production to the global market, alongside the advancement of the company's music publishing business, multi-label system, fandom economy business, metaverse business, etc. 

Source

Edited February 3 by My Everything

[Bitoku]

the multi-labels is a good idea, SM have way too many artists and are planning to debut more. the sound/concepts started clashing lately. maybe this system will allow more variety.

the reward system for successful artists is good and will benefit the new groups well. tho EXO was done dirty on this one, being side-lined for most of their successful years.

Edited February 3 by Bitoku

[Guest]

multiple labels would help because SM has reached a point where it's roster is simply too big for one management team, in fact they reached that point a few years back. also please finally debut Sungchan and Shotaro.

[sinnfb]

It will all be worthless if they don't start changing the music. I know the SM Performance genre was able to chart in the past but it's clearly not working as consistently as it did before and they are losing stans to other companies and groups. They are still at the top but there's too much competition. I see no difference of talent and charisma between NCT and aespa compared to older SM groups so they are doing the casting right but the production team desperately needs a revamp. 

[Quinn the Brain]

Give GIRLS' GENERATION their own label already