The Black Label, Home to K-Pop Acts Including Meovv, Scores $80 Million Series B Led by Tencent Music and Krafton

The Black Label’s AllDay Project. Photo Credit: TV10

The Black Label, which serves as the professional home of Blackpink’s Rosé, has scored a reportedly ₩120 billion (currently $79.7 million) Series B with support from Tencent Music and Krafton.

The Black Label confirmed the multimillion-dollar raise today, and regional outlets including the Seoul Economic Daily shed light on the round. Meanwhile, said round’s size comes from Bloomberg; the K-pop label itself seemingly opted against divulging hard numbers beyond a $663.6 million/₩1 trillion overall valuation.

However, the funding didn’t materialize out of the blue: Back in January, Business Korea indicated that The Black Label was seeking as much as $66.4 million/₩100 billion from investors (the PUBG: Battlegrounds developer and publisher Krafton among them).

And those Series B rumblings arrived against the backdrop of continued commercial success for KPop Demon Hunters; The Black Label had a hand in both the smash hit’s music and its dance choreography.

Additionally, the Teddy Park- and Kush-founded company’s roster features Meovv and AllDay Project (which debuted in June 2025), to name a couple. The 11-year-old business has reportedly turned in significant revenue growth as of late – to the tune of a nearly 75% spike in 2025 to $49.0 million/₩73.8 billion, per the Seoul Economic Daily.

(The Black Label is technically private, though a sizable piece of the company belongs to the publicly traded YG Entertainment, where Park was previously a producer.)

Now, The Black Label is looking to capitalize on the momentum and the fresh funding by expanding “into a comprehensive entertainment company,” according to CEO Jung Kyung-in.

Having Tencent Music and Krafton aboard as stakeholders will certainly help the buildout along. The former is leaning into K-pop – and enabling international players to establish a presence in China’s quick-growing music market – by offering exclusive digital products, selling exclusive merch, and staging physical concerts.

(During 2026’s opening quarter alone, Tencent Music released “China-limited edition digital albums combined with physical collectibles for” the likes of Blackpink, Exo, and Ive. The three-month stretch also brought TME-organized shows from Babymonster and NCT Wish.)

Unsurprisingly, The Black Label is poised to explore gaming opportunities with Krafton in its corner. While time will tell what these efforts entail, multiple regional outlets have framed the investment as the newest in a line of diversification-minded moves for Krafton.

Last year, the entity (about 14% of which belongs to Tencent proper) became the largest shareholder in Kakao Games’ Neptune and launched a $30 million fund for indie game developers.