KPop Demon Hunters Music Studio Lands $80M Deal

The Black Label, the Seoul-based K-pop entertainment company behind the Oscar-winning KPop Demon Hunters soundtrack, has closed an $80 million USD new Series B funding round. The deal reportedly values the company at about ₩1 trillion (~$660M).

Major industry names, China's Tencent Music Entertainment Group (TME) and South Korean gaming giant Krafton co-led the deal. Existing investor Saehan Ventures also participated in the funding round.

CEO Jung Kyoung In positioned the funding as a “strong foundation for the company to take a leap forward as an entertainment firm that’d lead the global market.” The label, co-founded by producer Teddy Park, solidified its position after KPop Demon Hunters became a breakthrough success with the film’s album winning major U.S. awards.

KPop Demon Hunters’ title track Golden reached No. 1 on the Billboard Hot 100 and on the Global 200, while the album became one of the highest-charting soundtracks of 2025. The film also won Academy Awards for Best Animated Feature and Best Original Song, along with a Grammy Award for Golden.

Krafton and Tencent Funding KPop Demon Hunters Studio is a Strategic Bet

The deal reflects a shift in how Asian entertainment companies are being valued beyond music sales alone. For Tencent Music, which has increased its exposure to South Korea’s music sector over the past two years, The Black Label investment extends the expansion.

In 2025, Tencent acquired HYBE’s stake in SM Entertainment in a deal valued at nearly $180M and later expanded partnerships tied to artist development in China. Within Q1 2026, TME launched tailored digital album bundles for EXO, IVE, and  BLACKPINK. The company also expanded live shows by Babymonster and NCT Wish across China, Taiwan, Hong Kong.

Krafton’s involvement also reflects the company’s initiative to diversify revenue streams outside gaming. The PUBG publisher has recently expanded into animation and content production investments, including a $517M acquisition of ADK Holdings, a Japanese advertising and animation conglomerate.

The Black Label currently manages artists including Taeyang, Jeon Somi, and BLACKPINK’s Rosé. However, the company’s recent rise to prominence is much due to KPop Demon Hunters’ success and visibility on awards stages and streaming charts.

The company’s Series B funding also shows investor confidence in K-pop IPs and their commercial and cultural potential. It further solidifies KPop Demon Hunters’ position as one of the most commercially viable entertainment IPs, which broke previous records, led multiple merchandising deals, and raised the cultural significance of South Korea-related pop content.