Music producer Teddy's agency, THE BLACK LABEL, has drawn significant industry attention after successfully securing a Series B investment worth 120 billion KRW (approximately 78 million USD). The funding round included participation from Tencent Music Entertainment (TME), China's largest music streaming platform, and South Korean gaming giant Krafton. With the new investment, THE BLACK LABEL has officially joined the ranks of unicorn companies—privately held startups valued at over 1 trillion KRW (approximately 652 million USD).
Founded in 2016 by former YG Entertainment producer Teddy, THE BLACK LABEL has grown into one of the most influential independent entertainment companies in South Korea. Teddy, who also debuted as a member of the hip-hop group 1TYM, is widely recognized as one of K-pop's premier hitmakers, having produced numerous chart-topping songs for major YG acts including Big Bang, 2NE1, and BLACKPINK.
Originally launched as a subsidiary label under YG Entertainment, The BLACK LABEL gradually expanded through external investments and business diversification. The company currently represents artists including Big Bang's Taeyang, BLACKPINK's Rosé, former I.O.I member Jeon Somi, girl group MEOVV, co-ed group ALLDAY PROJECT, and producers IDO, 24, and Vince. It has also expanded into actor management, adding stars Park Bo Gum and Im Si Wan to its roster.
A representative from THE BLACK LABEL told Edaily on June 19, “Our company is home to a creative team of producers led by Teddy, as well as artists with global recognition. We believe investors positively evaluated our ability to create globally competitive K-pop content, develop new intellectual properties, and produce high-quality entertainment content.”
THE BLACK LABEL launched girl group MEOVV in 2025 and co-ed group ALLDAY PROJECT in 2026. Since debuting, ALLDAY PROJECT has quickly emerged as a rising act, scoring consecutive hits with songs such as “FAMOUS” and “ONE MORE TIME.” Meanwhile, MEOVV recently achieved a career milestone after its latest album surpassed 300,000 first-week sales.
The company's profile received an even greater boost through its involvement in the soundtrack for Netflix's animated film 'K-Pop Demon Hunters,' which became a global sensation and later earned a Grammy Award. Teddy and several producers from THE BLACK LABEL played key roles in creating the soundtrack, whose songs found success across international music markets.
“The pursuit of both artistic excellence and commercial success is the result of years of experience gained while developing artists such as Big Bang, 2NE1, and BLACKPINK,” the company representative said. “New ventures, including ALLDAY PROJECT, the KPop Demon Hunters soundtrack, and our expansion into actor management, have translated into tangible results and strengthened the company’s foundation. We believe investors highly valued our willingness to take creative risks and our content production capabilities.”
THE BLACK LABEL reported revenue of 73.8 billion won in 2025, marking a 74.5% increase from the previous year. However, the company posted an operating loss of 21.5 billion won, extending its streak of annual losses to three consecutive years since 2022. While aggressive investments and business expansion have fueled growth, profitability remains a key challenge.
Despite the losses, investors appear to be focusing on the company's long-term growth potential rather than its current earnings. Industry observers will be watching closely to see whether THE BLACK LABEL can maintain its momentum while improving profitability.
The company plans to use the newly secured capital to develop new intellectual properties and expand its global presence.
“During the investment process, we were not solely focused on investors offering the highest valuation or the best financial terms,” a company representative said. “As a growing company, we prioritized finding partners that could complement our capabilities and support our long-term development.”
The representative added that THE BLACK LABEL intends to strengthen artist activities in Greater China and Southeast Asia by leveraging TME’s platform and market expertise. The company is also exploring ways to combine Krafton’s technological strengths with its own content production capabilities.
“The investment will be used to broaden the foundation for future growth, including developing new IPs and expanding globally,” the representative said.
Asked about potential plans for an initial public offering, the company indicated that an IPO is not an immediate priority.
“Rather than focusing on external expansion alone, we are concentrating on strengthening our fundamentals and growing into a global content company,” the representative said. “For the time being, we plan to remain privately held to maintain the speed and flexibility of our decision-making process.”
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