The Black Label Raises $80 Million in Series B as Valuation Hits 1 Trillion Won
Updated
Updated · Bloomberg · May 26
The Black Label Raises $80 Million in Series B as Valuation Hits 1 Trillion Won
1 articles · Updated · Bloomberg · May 26
The Black Label secured about 120 billion won ($80 million) in Series B funding to finance expansion, marking a major capital raise for the South Korean music studio.
Krafton and Tencent Music led the round, while existing investor Saehan Ventures also joined, valuing the company at 1 trillion won.
The studio is best known for producing the soundtrack for Netflix’s KPop Demon Hunters, a credit that helped draw backing from major gaming and entertainment investors.
Beyond a hit Netflix soundtrack, how will The Black Label justify its massive 1 trillion won valuation?
With gaming giant Krafton investing, is the future of K-pop found in the metaverse and virtual idols?
Does Tencent's massive investment signal the end of China's unofficial ban on K-pop entertainment?