SO BEAST! 안녕하세요, 비스트 모드 스쿼드 입니다!
(SO BEAST! Hello, we are BEAST Mod Squad!)
Back in December, Arion Technology invested 2 billion won into BEAST's new label Around US Entertainment. This is significant for several reasons.
Arion Technology is a Korean-based company which aims to become one of the top 5 Entertainment agencies in Korea.
Arion Technology is now one of the big shareholders in the company, with a 30% stake. However, Around US Entertainment released a statement clarifying "that BEAST is still the largest shareholder in the agency."
Arion Technology owns three other Korean Entertainment agencies. which include: Line Entertainment, YMC Entertainment and Dream T Entertainment. "These agencies handle a number of idol groups, solo artists, actors and actress including Ailee, Girls' Day, I.O.I, MC Mong and Kim Gura". This technically means BEAST is now considered to be labelmates of these artists.
What this means:
Around US now has the financial backing of a large Korean Entertainment company with the connections and resources to provide assistance to BEAST and Around US Entertainment in multiple ways.
Judging by the large investment Arion Technology has made into Around US, they must believe that BEAST will continue to be successful without Cube Entertainment, and even without the use of the BEAST name and logo as it is still up in the air.
With their goal of becoming one of the top Korean entertainment agencies, Arion will be elevating Around US to a higher status within the Korean music industry, which will allow BEAST more opportunities and resources in the future.
Now that Around US is a partner company of the other entertainment agencies listed above, BEAST is now associated with other top Kpop artists and collaborations between BEAST and these artists will be easier to arrange. There is the potential for other benefits to exist for BEAST.
As a 30% shareholder in Around US Entertainment, Arion Technology has some say in how the company is managed and even has the potential to give creative input. Since BEAST remains the largest shareholder they retain creative control and should have the power to veto a number of measures put forth by other shareholders.
Because the Korean Entertainment industry is very politcal and is closely tied to Korea's own political landscape, BEAST/ Around US may have to acquiesce from time to time to the other shareholders.
The news is mostly good. Around US Entertainment stands to gain a lot from the investment and partnership with Arion Technology. The fact that large and important companies are interested in investing large sums of money into BEAST's fledgling label is a good sign that the group and the agency are viable entities despite rocky beginnings.
In addition to money, Arion Technology brings with it a slew of other benefits that can help strengthen the company and it's standings within the industry.
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