Artist United Co., Ltd. (321820, CEO Hwang Kyung-joo) has completed its merger with Artist Company, resulting in the establishment of a comprehensive entertainment group with annual sales exceeding 100 billion won, including its subsidiary Artist Studio.
Artist United stated, “The merger agenda was approved at the extraordinary general meeting held on the 13th of last month, and the two companies finalized the merger on the 17th.”
Thus, the two companies have transformed into a single entity after completing the merger process over approximately three months since the merger resolution on November 5. This merger is expected to create a significant impact in the entertainment industry.
The merger between Artist United and Artist Company was initiated with the goal of combining management and content production and distribution capabilities to build a global IP (intellectual property) business model. Artist Company, which is home to solid actors like Lee Jung-jae and Jung Woo-sung, achieved over 20 billion won in net sales last year and is recognized as a leading management company in the industry with top-tier operating profit margins.
With a focus on mutual growth between the company and its affiliated artists, it has grown under a strong trust with its artists, producing high-quality content such as the film ‘Hunt’ and dramas ‘The Silent Sea’ and ‘Say You Love Me,’ and is evaluated for its production capabilities.
Founded in 2010, Artist United provides B2B online marketing and advertising solutions utilizing big data and AI technology. After Lee Jung-jae became the largest shareholder at the end of 2023, the company launched a new division for distribution and production and acquired Artist Studio (formerly Raemongraein), officially entering the entertainment business. Artist United and Artist Company have each recorded annual sales of 20 to 30 billion won, while Artist Studio has also recorded over 40 billion won in annual sales. Following this merger, the combined capabilities of the three companies are expected to grow into a comprehensive entertainment group with annual sales nearing 100 billion won. Additionally, Artist United is reportedly planning new businesses related to commerce and AI (artificial intelligence), anticipating a different scale of revenue by 2025.
Artist United stated, “Artist Company is one of the top domestic actor management companies with the highest operating profit margins in the industry,” and added, “We expect this merger to significantly contribute to the improvement of Artist United's performance and financial soundness.” “In particular, we anticipate that the management know-how of Artist United, online marketing technology utilizing big data and AI, and the production capabilities of Artist Studio will converge to create a synergistic effect,” they stated.
[Kim Bit-na, MK Sports Reporter]
