Jang Cheol Hyuk and Tak Young Joon, the co-CEOs of SM Entertainment, have been honored by Billboard as part of the ‘2024 Indie Power Players’ list. This recognition underscores the significant global impact of SM Entertainment in the music industry.
On June 10, Billboard made the announcement on its official website, highlighting the inclusion of Jang Cheol Hyuk and Tak Young Joon in the prestigious list. This accolade is particularly noteworthy for Tak Young Joon, who has been selected for the third consecutive year, following his previous recognitions in 2022 and 2023.
The ‘Indie Power Players’ list, initiated by Billboard in 2017, celebrates leaders of independent labels and distributors who have achieved remarkable success in the global music market. This list excludes the three major labels in the United States: Universal Music Group, Sony Music Entertainment, and Warner Music Group.
Billboard praised SM Entertainment for its successful year, attributing much of this success to the recently introduced SM 3.0 strategy. The strategy has propelled the company to new heights, with NCT 127 embarking on a global tour in 2023. Additionally, NCT Dream’s third full-length album ‘ISTJ’ and aespa’s third mini-album ‘MY WORLD’ have both achieved significant success.
The successful debuts of new groups RIIZE and NCT WISH have also been highlighted. RIIZE’s debut track “Get A Guitar” was selected as one of Billboard’s ’25 Best K-Pop Songs of 2023,’ further cementing SM Entertainment’s influence in the industry.
Jang Cheol Hyuk and Tak Young Joon expressed their gratitude and future aspirations, stating, “Moving forward, we will continue to surpass boundaries, set new records, and lead the future of music.”
This recognition by Billboard is a testament to the hard work and dedication of the co-CEOs and the entire SM Entertainment team. Their innovative strategies and commitment to excellence have positioned SM Entertainment as a powerhouse in the global music industry.
The ‘Indie Power Players’ list is a significant achievement, as it acknowledges the efforts of those who have made a substantial impact on the music industry outside the realm of the major labels. SM Entertainment’s inclusion in this list is a reflection of its ability to innovate and adapt in a rapidly changing industry.
The SM 3.0 strategy has been a game-changer for the company, allowing it to expand its global reach and influence. The strategy focuses on globalization and growth, enabling SM Entertainment to tap into new markets and audiences.
NCT 127’s global tour in 2023 was a major highlight, showcasing the group’s talent and appeal to a worldwide audience. The tour was a resounding success, further solidifying NCT 127’s position as one of the leading K-pop groups.
NCT Dream’s third full-length album ‘ISTJ’ and aespa’s third mini-album ‘MY WORLD’ have also been major milestones for SM Entertainment. Both albums received critical acclaim and commercial success, demonstrating the company’s ability to produce high-quality music that resonates with fans.
The debuts of RIIZE and NCT WISH have been equally impressive. RIIZE’s debut track “Get A Guitar” being selected as one of Billboard’s ’25 Best K-Pop Songs of 2023′ is a significant achievement, highlighting the group’s potential and the company’s knack for identifying and nurturing new talent.
Jang Cheol Hyuk and Tak Young Joon’s leadership has been instrumental in driving SM Entertainment’s success. Their vision and strategic direction have enabled the company to stay ahead of the curve and continue to innovate in a competitive industry.
As SM Entertainment continues to push boundaries and set new records, the future looks bright for the company. The recognition by Billboard is a well-deserved accolade for the co-CEOs and the entire team, and it serves as a reminder of the company’s significant contributions to the global music industry.
In conclusion, the inclusion of Jang Cheol Hyuk and Tak Young Joon in the ‘2024 Indie Power Players’ list is a testament to their leadership and the success of SM Entertainment. Their innovative strategies and commitment to excellence have positioned the company as a leader in the global music industry, and their future endeavors are highly anticipated.
