What's going on at SM Entertainment? - Lee SooMan ousted, Aespa comeback delay, HYBE acquisition etc

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Today, we are going to be talking about the recent scandals surrounding one of the top Kpop agencies, SM Entertainment. From the fued between Lee Soo Man vs Lee Sung Soo, to the battle between Kakao vs HYBE (BTS, TXT, Enhypen, Le Sserafim and New Jean's company), it seems like there are many conflicts going on within SM Entertainment. But just how and why did this controversy start, and what does it mean for the artists and staff under the company? If you're just as confused as I was, then be sure to watch this video!
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Credits:
- Research by: Evangeline, Becs
- Editing by: Evangeline

[@ploopy678]

In summary... it's not a black and white situation😅 What are your thoughts? - Huge thanks to Fashion Chingu for sponsoring this video: bit.ly/41oNQVp (Use code "PLOOPY10" for 10% off) - React to Boys Planet with me every Sunday! www.patreon.com/ploopy678

[@edvaedan9161]

All I could think was ‘How YOU doin’?’ 😂 No, that was really a great description of a complex situation. Thanks for the hard work!

[@yogawan3805]

LSM too greedy, he biggest share but not majority. In Stocks, "Majority" IF u own more than 51%. Btw it's his own fault, should be sold the share 49% max. So he can't lose control

[@MrMusic4676]

I assume you have heard about new Japanese girl group XG that have come to South Korea to make music that have been created by non-korean companies and using the South Korean market as a springboard like as if they are a K-pop group and they don't even sing in korean they sing english. Maybe Pop companies in other East Asian countries will follow their companies footsteps in the future.

[@moredaebak]

It's a crazy situation no doubt

[@caecilliamaeve1070]

L 😱 8778

[@songkangsbabyface]

This entire Hybe and SM “feud” is like an enemies to lovers trope on ao3 that I am completely living for 😂

[@fjnxtgdjsjeeh6073]

This is so funny

[@TuberoseKisser]

It's like that one fic that had a massive amount of tags and broke people's browsers.

[@mangojelly23]

LMAOISJSJAJJS

[@dejavu6514]

Ikrrrr

[@whoknows5123]

💀💀💀

[@perillaleaf00]

I never knew drama between companies would be so interesting lmao

[@maatlamogapi9758]

Ikr, like ever since this whole feud started I have been sitting there in a corner with my bowl of popcorn. I be like "mmmh....interesting!!!"🤔🤔. And I don't mean to sound like a jerk or anything but I swear I am enjoying this drama way more than I should be and I don't why??😂🤣

[@ohmyrainingducks]

business drama is the best! as someone who works in business, there is a lot of petty drama that happens amongst large companies.

[@ironheart5830]

Looks like they can make Kdrama TV series out of it :D

[@OoiYunKai]

@@ironheart5830 basically reborn rich

[@ironheart5830]

@@OoiYunKai you're right 👍

[@forevera5241]

I'm actually pretty annoyed by all of this. When their artists face real actual career ending scandals, management puts them on indefinite hiatus and does nothing to resolve the situation, but now now that it's about them, they wanna air out their family issues. It's so vexing.

[@laweafome528]

THATS SO TRUE Like Sulli's scandals would have end up so different if they put this much effort in to clearing her image, they also killed jessica's music career in korea, f**k these stupid rich people.

[@Rosula_D]

Good job! You're one of the few people who have presented such a level-headed and realistic approach to this matter. Unfortunately, most K-Pop fans are either too young to know/ understand business matters (obviously not their fault) or too emotionally involved to acknowledge some basic facts. And certain big names in the fandom are capitalising on this story to get easy engagement by appealing to the fans' emotions without even trying to be objective. I honestly dislike most of the possible alternative resolutions to this problem: I don't want Kakao to control SM; I don't want Hybe to control SM. I don't want Lee Soo-man or his nepo-nephew to control SM. None of these people care about SM's "artistic side" (whatever that may be), the lower level employees, the idols, or Hallyu. They care for profit and that's to be expected. K-Pop fans need to understand this and stop using their money and social media presence to boost these rich people's case. In my opinion, the ideal scenario would be that some other third-party fund would buy the majority of stocks, hire some competent folks to separately manage the business and artistic sides of the company, and let them do their thing. Unfortunately, South Korea currently has one of the most incompetent governments in its history and they're about to sign Hallyu's death certificate. The reason K-Pop became successful was because even though it's a specific industry where most participants work in similar ways, there was a broad artistic diversity. There are so many groups, so many different idols, so many different sounds and looks. And that's because smaller companies had room to compete in the market despite there being the "Big 3". Let's not forget: the indisputably biggest K-Pop group in the world (whether one likes them or not), started from one the smallest companies. If Kakao or Hybe manage to control SM, K-Pop will irrevocably become a monopoly. It might not happen tomorrow or next year, but it will happen, there's no doubt about that. And monopoly means stagnation. This has happened in many industries. You don't need to have studied economics or business to know this. In fact, the current situation in Hollywood is clearly an example to avoid. K-Pop has already reached its peak. If the industry heads and Korean government are not careful, the bubble will burst way faster than expected. They can maintain the current growth trend for several years if they promote artistic diversity. Otherwise, they won't even make it to 2025 before their brands, and thus their shares, lose most of its value.

[@Mr-pn2eh]

Or just encourage the idols/artists to just go independent. With KZbin they could just do there own thing without all the entertainment company shit. That's what denise formerly of secret number is doing, and so is sorn. The best example of what I mean by going independent is Rob Scallon.

[@svtenergyskincare]

@@Mr-pn2ehyes, but independent also usually means much lower budget, and one of the trademarks of the kpop industry is high budget sets, music videos, etc. so I would argue that artists mass going independent would cause a pretty dramatic shift in the style and look of kpop as we know it.

[@Asepa99]

going independant is easier said than done bestie. having the backing of a company means a budget for music production, a party to negotiate deals and sponsorships, music distribution etc,. unfortunately that 'entertainment company shit' is vital for success, and i dont mean just youtube views because in the whole grand scheme, youtube views play such a small role. i have been following sorns career, and if i were to ask your average kpop stan to name a song of hers it would be silent, she is not making the waves i think she should be, yes shes doing numbers on tiktok but it doesn't translate into actual digital sales or tangible success (i think shes super talented and grossly underrated). it sucks but the reality is, going independant is a 50/50 gamble.@@Mr-pn2eh

[@cakredi4132]

This SM x HYBE 'feud' is only okay when they still retain (or even improve) the creativeness in SM's future releases. If SM artists choose to exit as it's rumored, then there must be interventions in their creative process.

[@nerd26373]

We appreciate your insights on this matter. Seems like there’s much more going on behind the scenes that we are not fully aware. SM Entertainment is drastically changing, and that speaks a lot toward which direction they may be going into next.

[@OrenjiArms]

I literally told my friends I was waiting for your video about this bc it was so confusing and I couldn’t be bothered to figure it out for myself

[@latoyabooker5338]

Like I’ve been saying all this mess is literally just the aftermath of LSM shady or questionable business decisions from years ago like if it wasn’t for that SM wouldn’t be in this interesting position and then the petty videos of taking personal jabs between nephew and uncle people sending buses to HYBE like this turned into hilarious drama that has drag in a bunch of other people and now people are invested 😂

[@Vydiastar]

its like Dallas, the American Soap Opera. im more worried about the artists, staff n fans and how it would affect the SM ecosystem

[@STAN_LOONA]

You really need to learn how to use punctuation.

[@latoyabooker5338]

I didn’t try to 😂this is just me commenting like this ain’t for no school essay

[@starwberriez]

@@latoyabooker5338 cringe as hell

[@deeharper1364]

Yea like twitter sm stans still defending LSM like what drugs are they on. This is the outcome of LSM milking SM till death.

[@anistardi]

This is not war between SM and Hybe, but war between Hybe and Kakao. The war triggered because the drama between Lee Sooman and the CEO of SM. If Kakao have influence to SM, so SM's idols used their media social and technology, it threaten Hybe's media social like Weverse. It is not about SM's music and arts because Hybe did not interference the music and arts that company they bought like Pledis, Ithaca Holding, etc. But many SM's stan have high pride because in the past SM was number one music label in South Korea until Hybe exist. So their pride hurt when Hybe bought SM's share. Some of them are very stupid because don't understand how public company worked.

[@justdb4]

Lee Soo Man having a Monopoly inside his own company makes me laugh and pissed at the same time, for the people who had to lose so much money because of these (Exclusive Production Contracts). Damn this man thought he could get away with so much and could be on top of the world, but when his company tried to get rid of him he ran straight to Hybe to give them his shares and now he's home free. Fuck this is all a mess and such a messed up situation to be in.

[@riffgroove]

Completely ignoring the fact that SM was perfectly okay with the scenario for literally decades as long as the money kept rolling in. And it did.

[@edba1.037]

@@riffgroove but with the new leadership SM is changed

[@riffgroove]

@@edba1.037 Definitely. As much as we all owe LSM a debt of gratitude for creating Kpop as we know it, he had been there WAY too long, his ideas were becoming stale, and it was time for him to go.

[@edba1.037]

@@riffgroove the NCT "expanding" idea is still a great concept

[@riffgroove]

@@edba1.037 I heard they abandoned that idea quite a while ago.

[@kaylaa660]

I literally just went on KZbin to look for a breakdown on this whole thing! Thank you so much 🙏

[@D2crazy4U]

I just want to say how amazing and simple you explain things! From scandals to crimes, to controversies. It’s clear you always do your research! Love it ❤

[@teana294]

Thank you so much for your hard work and educating people who may not know what's really going on! 🤩

[@halane4790]

This has to be the best breakdown I have seen. Thank you so much for clarifying the situation in an objective, drama-free manner. We all owe you.

[@cozyfloret]

thank you so much for doing this. i was so confused when i saw what was happening... honestly so worried for all of SMs artists.

[@gagacraft]

What a great video! I was so confused with what's been going on, and I now I feel like I understand it so much better. All I can hope for is that our favorite groups/artists are winners in the long run.

[@ilovechihayafuru]

You are a lengend girl....watching the news and contrasting views on so many social platforms......I thought I could never understand the complexity of this situation....but you made it all so easy and helped me understand the gravity of it and the real nature of it....I'm scared how the artists will be affected true ...but also hope for a brighter future...that is all I have in my hands anyways... Thank you as always!!! For making vast and complex issues more understandable!!! Learnt a lot today 💕💕💕✨✨✨

[@Shimo2130]

You receive more subs than other kpop channels like the effort you put into the vids is great

[@melshaekelwelt]

Thank you for this. I already knew a lot of what's been going on but you made it even clearer. Thanks for putting so much effort in your videos!

[@kpopluver0494]

Thanks for this summary! This is the best breakdown of this story that I have seen so far ❤

[@BeantownMrs]

This came up in my recommended feed. Thank you so much for clarifying this situation!

[@katiew532]

This was so informative and helpful! Thank you very much for your hard work.

[@qsxsqsxs]

Thank you for explaining this confusion subject to me! :) I appreciate your hard work and your research.

[@blabible]

This is amazing!!! all the best for you. good journalism

[@irmaluisacera6780]

Thank you for always doing an amazing job explaining complicated situations in such an objective way!

[@Alphafonz]

This was super informative! Thanks for this super concise summary :)

[@monamadyson]

Thank you so much Evangeline!! This was so informative and helpful, I had no idea about any of this! I love you vids! 🫶🏽💗

[@Vor567tez]

This helps alot to understand what's going on. Thanks.

[@nerdynicky91]

This cleared up so many of my questions. Thank you. 💜

[@uNtando]

I’ve been scrolling past these news so I don’t know anything about this situation so I’m definitely excited to watch this video ❤

[@tomgalactic8838]

Thank you for this video Ploopy! You have explained the SM situation far better than any of the articles I've read about it!

[@extraterrestrial.cherries]

thank u for this i've been SO confused

[@patrickonaleash1979]

thank you evangeline for this amazing video. i was literally so confused when this situation took off but now i understand it well because you explained it so well

[@lndcruz721]

i had no idea this was happening, but i was very entertained listening to you break it down. you did a great job explaining, especially what happened with the shares, so great video!

[@LordLort]

Thank you a lot for explaining it!

[@yourguia4301]

Thanks for clarifying this issue ❤

[@Pollo.a.la.crema.]

This is the only video on the topic that helped me truly understand the situation, thank you!

[@hanng1242]

I don't know how it works in Korea, but if this were in the U.S., if the production contracts made no business sense for SM, it seems to me that the shareholders had a cause of action against Lee Soo Man personally for breach of fiduciary duty.

[@wildlotus4339]

That makes more sense.

[@zeldastraus4136]

This was such a great video. Just reading tweets from angry sm fans, wasn't really helping me understand the situation so this was very helpful.

[@asmamohammed5659]

Omg thank you for your video beause the more and more stuff comes out the more and more confused I get

[@jessi5288]

Im saving this to watch later, but it got messier today. I appreciate people who do these videos’ hard work because everytime y’all post the drama drops a new episode.

[@MelHathNoFury]

I thought I understood the situation pretty well but there were definitely some gaps in my knowledge that you filled in here. Great video!! ❤

[@beccikinomoto5651]

Thank you for your Video, finally i understand the mess thats going on and even i don't listen to Aespa often i hope they Comeback soon.

[@ploopy678]

It was honestly really confusing, so I'm glad this cleared things up!☺💕

[@beccikinomoto5651]

@@ploopy678 yes it was but thanks to you we can now understand everything better and we can hope for Aespa, Red Velvet, NCT, EXO and the other Artists that they can Release new music soon.

[@ol.3917]

Thanks for explaining this🙏💖

[@machaon7300]

Your videos are always so thorough and well researched 👏

[@darkstorm08]

Yep gotta follow now... I randomly found my u from the last video for loona but... Thank you for the clear explanation of the drama... I appreciate your hard work

[@Maouww]

This was a great video! Thanks for doing the research - you have a really neutral breakdown! Thankyou :)

[@MyHandle4455]

Great job on your breakdown!

[@chunyipli3410]

Thanks for your video ❤️❤️ it is obviously that you can explain this event clearly 🤘🏻🤘🏻

[@Shimo2130]

Finally you upload this vid

[@deb4908]

Thank you for all your hard work to make a complex business issue clearer. My personal opinion: Lee Soo Man had a genius idea but he’s milked the cow long enough….time to go. A HYBE takeover would not be good for diversity in Kpop so I kinda hope it doesn’t happen. But above all SM Entertainment owes it’s success to the hard work, dedication and talent of its current and former artists. I hope the current artists will be unaffected by the changes above them (and beyond their control). I will support a company that respects and supports its artists first. And I hope that the shareholders realise that their most precious commodity, the thing that will generate the most profit is the artists….so make sure you look after them!

[@user-uns02haef4u_]

Thank you!!!! Finally someone who actually sees the consequences it could have clearly and not just joke about "enemies to lover" or anything like that!

[@kathy3459]

I just had to tell you that 100% I agree with you. This whole drama probably wouldn't be on my radar, except I got into KPop last year so I'm very interested in what's happening and how it could affect the artists. I don't blindly support any company, but it's difficult to support KPop artists without supporting their company because they're so tightly linked to each other. I can see pros and cons of SM and HYBE together, but I'm in the U.S. where large monopolies have crushed smaller competitors so I don't like that aspect at all.

[@buppysoo]

thank you so much for this…

[@shannongovers]

Omgg this was soo funn, I was waiting for a video like this, especially from such an good channel like yours!!

[@nstalgiaultra]

Great video ploopy

[@noname-vz5wx]

Thank youuuuu! Fab video

[@ayshayusuf5084]

Finally been waiting for your vids👋🏼💕

[@KmiiVC]

thank you so much for this

[@phrhann]

I would've not been able to understand this mess without your explanation, thank you for the video!! You're always the best explaining

[@calvinjeremy]

clear explanation!!

[@laweafome528]

19:17 LOOOOL i love you ploppy but that was so weird ty for the clear and informative video wly

[@lsgoh2357]

Thanks for this video!

[@charmholic]

THANK U PLOOPY!!

[@jnguyen7867]

YAYYY ploopy new video 🥰

[@jacqueline2121]

Thank you for your hard work!!!

[@a.april0]

waiting every month for ur vids are just so worth it. awesome vid as always ❤

[@siux07]

i didnt ready any news articles or did some research i was just waiting for you to explain this

[@siux07]

Read* sorry for the typo

[@skypidge2093]

Honestly, you gotta admit that LSM's scheme with that exclusive production company contract thing is some evil genius stuff. Like he was thinking about how he'd benefit in the long run 💀💀. I hope none of the 3 win tbh. It's really draining watching kpop fans take sides and act silly over the companies they like thinking one company is saving the other or whatever, when in reality this is just 3 companies having it out on each other for the sake of money. As always, this was a very educational and insightful video. Helped me understand the whole thing a bit more cuz' it was all too messy and confusing to keep up with online. I don't know why but the whole thing about Like Planning and CT Planning reminded me about the thing about foreign producers exposing SM for not paying for their services. Wouldn't be surprised if it was because of LSM 💀💀 Given the whole exclusive contract thing.

[@brandoniswhoiam]

Honestly, I dunno what’s going on. I’m just glad that you’re back!

[@shemica16]

Thank you so much! Finally, I can understand what's happening... Because it came out of nowhere and it was so ridiculous. It's still ridiculous, but at least I know what's what lol. As always, you make the best videos!

[@moredaebak]

Love this topic n vid!

[@deschampsia.maritima]

Thank you. Your effort to explain what is going on out of the mess of mud slinging and misdirection is appreciated. I keep expecting another k-drama plot twist. Pass the popcorn.

[@habshi0974]

LOL 😄

[@stannature1984]

I knew I can count on you to get to the nitty gritty!!!

[@mcsaism]

Ive been waiting for thissssss

[@eunoia007]

People were mad at HYBE cuz the infinite members thing for NCT stopped but I thought that that was good cuz in the future we'll have the first members like Johnny, Jaehyun,Taeyong and others be in their late 20 while new artists are entering the group and with Kpop's obsession's of debuting minors they'll be like 14 or 15 and that's kinda not for me. Yea ok they have separate groups but the infinite members thing is just not it.

[@angiee1603]

I knew this was coming and was eager to hear your break down of everything that's been happening. I think SM pushing Lee Soo Man out was a good idea given how he has been leaching money from the company. It reminds me of Suho from EXO when he commented on SM's minimalism in some MVs. Was it minimalism or just a smaller production budget because of all the fees Like Planning was charging. Also what kind of impact did these fees have on the idols and groups and regular staff members? Did it impact their pay or benefits? I also wonder how HYBE's influence will effect SM's current artists especially given the fact that they were competitors. This drama isn't over so I'll be looking forward to any future videos you might make on this story.

[@fightfannerd2078]

Someone needs to make a drama out of this

[@kristinaanderson6052]

Please let there be an update to this with all the SM stuff that happened in the past month 🙏

[@babyitsnatural]

Btw Ploopy I love the way you think. When the chips are down, I want your analysis of the situation!

[@Yasmine-zo9lp]

ur vids are litch so entertaining to watch cant wait to watch more of ur content ❤‍🔥

[@Msforehead]

I was wondering what was happening with sm and kakou (sry if I spelt it wrong English inst my first language) thank you for explaining and breaking it down🎉

[@pandabutta]

You're amazing and I love you.

[@An097]

Thank you for this informative video. I learned many things about company and management through this scandal and your video. I’m always going to be Team Justice for Artists no matter what❤

[@Nanno_is_back]

This really helped! Thank you. I was so confused lol

[@toyland12]

I hit that "like" at the start because I know Ploopy always does her homework.

[@KnightlightIIX]

Such headache to understand The whole situation especially when it comes down to business and corporations but did a great job dissecting it down to understand The Crazy Drama between all the parties involved I just hope SM Entertainment Can Survive I hope all The Artist is able to still make music after this

[@prajwalm3011]

you are amazing💖

[@lauretta8458]

Thanks ❤️

[@thezambianprince3893]

This was very informative, as saw the original SM hybe takeover video, and was confused on where and how this began. Thank you for lesson on the business world and its unethical business decisions. Till next time and red velvet comeback ooooh

[@batladykatie]

This whole thing was hard to follow, so I was SO glad you did this video! Thanks!

[@katkaat]

Amazing 👏👏👏👏

[@XMarioX-we5ef]

0:50 thst transition was spot on

[@Better_Call_Bulba-Saur]

♫♪ Lee SooMan, Lee SooMan, does whatever a Lee Soo can. ♫♪

[@gavinconnaughton4499]

Thanks

[@richardc5100]

Ploopy is so gorgeous. 😍

[@creativia6639]

I'm a bit anxious about SHINee, I hope they will get a comeback soon as well 💎 Thank you for the video!

[@Darceyab]

They have one planned for May it was announced last week x

[@deluxe6655]

I love your outfit!

[@ridita5221]

I waited for your video, because you always do a resource that's impossible for a foreigner.

[@MsBoing2]

So LSM himself put SM in that state. I realy like SM Artist talent and creativity, & still humble i mean they didn't look they have a luxury life for their hardwork to a big star. Just maybe SM cant afford to pay them because of LSM. What a pitty. I hope he stop and let the younger generation manage SM better.

[@thedangmullet]

as much as I love hybe artists and their music, I don't want hybe taking over all of kpop 😐