SM 'Independent Business' Vs. YG 'Alliance'
By Staff Writer | August 06, 2012 11:45 AM EDT
With the start of the London Olympics, the 'G' generation has been gaining attention again. The 'G' generation are the people who were born before or after the Seoul Olympics and have a futuristic and global mindset. These people are showing their skill confidently all over the world.
There is a 'G' generation in the music industry as well. 5 members group SHINee's Taemin is born in 1993. Big Bang's Daesung is born in 1989. These two are helping to spread K-Pop globally in places such as the U.S., Japan, China and other countries.
These 'G' generation idols are able to succeed because of their supporters. Lee Soo Man of SM Entertainment and Yang Hyun Suk of YG Entertainment are known as the 'fathers of idols'.
These two CEO's have many similarities. These two were singers before they were CEO's and had received much love from their fans. Lee Soo Man was in the duo, 'April and May' and Yang Hyun Suk was in the trio, 'Seotaiji and Boys'.
They are also currently the top 1 and 2 best entertainment companies. To the public, they are known as the entertainment's CEO's, but inside the building, they are also the producers. They are not just any producer, but they are also the top shareholder of the company as well. Lee Soo Man holds 21.97% of the equity and Yang Hyun Suk holds 35.79%.
The two CEO's are also very wealthy. Lee Soo Man currently has $219,618,400 in equity and Yang Hyun Suk has $179,548,560. Not only this, but their real estate is famous as well.
These two companies are also competing against one another in the music industry. SM Entertainment ranks number 1 for the top album sales while YG Entertainment ranks number 1 for digital market shares. There seems to be a big gap in sales between the two companies as well. SM raked in $109,936,000 while YG brought in $781,000. Although their successes financially are along the same path, their style of working is vastly different.
Yang Hyun Suk finds the relationships between the singers and actors to be very important. If a fellow artist is going through a tough time, he likes to talk with them and comfort them. Yang Hyun Suk is seen more of as a friend or a brother than a CEO. In contrast, many artists at SM admitted that it was hard to become close with Lee Soo Man. Girls' Generation commented that they do not have many situations or chances to become close with the CEO.
As a businessman, Yang Hyun Suk believes that collaborative innovation is an important value. Recently, he has partnered with Hyundai card and Jeil Industries. Hyundai stated, "YG is known for their talented artists and we are known for our brand and design. We were curious to see what would happen if the two were to come together."
Lee Soo Man on the other hand likes to take over the business and create it into his own SM brand rather than partnering with them.
Although the two CEO's working styles are different, their goals are the same. Their goal is to create artists from the 'G' generation and bring them out the the global market.
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