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Eric Nam and Davichi’s label Stone Music Entertainment gets shut down by CJ ENM
Citing better efficiency and reorganisation, CJ ENM has close down Stone Music Entertainment. Read on to know the details behind this move.
Stone Music Entertainment, known as the home to top artists such as Eric Nam, Davichi, and TO1 has been shut down by the umbrella company, CJ ENM. Before its closure, it was one of the biggest co-publishing companies in South Korea known to be the former house of Lee Hyori, I.O.I, and others.
According to Sports Kyunghyang on April 20, Stone Music Entertainment had applied to close its doors on April 8. A source from CJ ENM also added that this is being done as a result of reshuffling the sub-labels for better efficiency. After some time, CJ ENM released their statement, admitting the fact that they have liquidated Stone Music. They also confirmed that the move was made to improve the efficiency of their management and to become more effective for their roster of artists. However, they have claimed that the label Stone Music will keep going as a brand for music distribution.
Stone Music Entertainment had a roster of successful idols, such as Davichi, TO1, SG Wannabe’s Kim Yong Jun and Kim Jin Ho, Roy Kim, g.o.d’s Son Ho Young and Eric Nam. The reports suggest that instead of termination, the artists will be moved to a different label under CJ ENM only. Sub-labels under the company include MMO Entertainment, Off The Record, AOMG, H1GHR Music, and Jellyfish Entertainment, it does seem likely that the superstars will be retained for future ventures.
According to industry experts, CJ ENM could be looking to level up their game to rival another media giant, Kakao M and Hive Media Corp.
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