Music industry insiders point out why SM is in its current state
It is said that many people in the music industry feel sorry for the current state of SM
It seems that the so-called bankruptcy or acquisition isn’t inevitable, but a well-run company that is taken over by the founder’s personal greed
1. That’s right, it’s not that SM is bankrupt, it’s just that a well-run company has been turned into a rival company’s label because of personal greed
2. K-Pop is dying
3. Seriously, this happened because of Lee Soo Man’s greed.. I feel betrayed, this old man
4. As expected.. You don’t know how the world will change
5. I feel like my memories are also disappearing
6. Even a passerby who doesn’t care about SM or HYBE is shocked, anyone who likes K-pop even a little will agree
7. Who knew that one of the top 3 Korean entertainment companies would become like this
8. It’s really shocking that Lee Soo Man has no loyalty to artists, staff or SM
9. Just looking at the net profit, SM is in 2nd place in the industry, what a pity… I’ve always liked SM’s unique colors ㅠㅠ
10. This event will go down in K-pop history
11. I’m not a fan of SM, but I’m really disappointed with Lee Soo Man, the founder shouldn’t be doing this
12. It’s true that SM ended because of Lee Soo Man’s personal greed
13. Lee Soo Man always thought SM was his, and he chose to erase SM right after being purged
Original post (1)
it’s not that serious but also the blame is lent to the co-ceo of sm for doing the backstabbing, lee soman had no choice. if it weren’t sm, yg would be the one
We can all agree that LSM is greedy and full of delusion but what about the people that backstabbed him? They left him with no choice but to run to HYBE and sell his shares. He might lose all the credibility he has left at least he still has a lot of money. In his mind, it’s okay to be a loser swimming in the tub full of money.
there’s no one backstabbing interpol criminal btw. lsm was not a director but doing illegal things and pressuring the board to enable his embezzlement. To begin with, that’s illegal. So align sued. But bc lsm was not a board, but just puppeteering the board, if the board did not change, they’d be the one turning into civil criminals w a criminal record (but won’t be jailed). So for the board to not turn into criminals as sacrifice for lsm, they need to change. And they did, so align dropped the suit & sm 3.0 was there.
Also, lsm backstabbed his own fam. He gave fam property to giselle’s aunt. So lss has to kinda protect his aunt’s/ cousin’s property. The cousin is also still in sm. So it’s abt right the nepo kid takes his cousin’s/ aunt’s/ his own fam’s side. A lot of ppl are so delusional bc they only see giselle’s aunt & lsm, but the entire private lss/ lsm’s son/ wife’s side is there betrayed by lsm diverting fam property to giselle’s aunt.
SM collapse start with NCT48 and follow by Aespa concept
SM losing market to others after they focus on niche concept group