SM Entertainment reveals plans to debut 3 new teams in 2023 + release 41 new albums
CEO Lee Sung Soo then announced that from 2023 onward, SM Entertainment will be entering its phase 3.0. Broadly, this phase looks to expand SM Entertainment's IP creation and production to the global market, alongside the advancement of the company's music publishing business, multi-label system, fandom economy business, metaverse business, etc.
Phase 3.0 will also introduce a trilateral format featuring a multi-label body, a multi-production body, and a subsidiary company focussing on music-publishing. Entering this phase 3.0 in 2023, SM Entertainment's projected IP production timeline will be as follows: The three new teams expected to debut in 2023 will each be produced under the direction of CEO Lee Sung Soo, CEO Tak Young Joon, and chief board memberFinally, co-CEOs Lee Sung Soo and Tak Young Joon confirmed that head producer Lee Soo Man's production contract with SM Entertainment has come to an end as of September of 2022.
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