The Black Label, KPop Demon Hunters Studio, Raises $80M From Tencent Music

The Black Label, the studio behind the KPop Demon Hunters soundtrack, just raised $80M with investment from Tencent Music

May 26, 2026 By Murray Stassen

The Black Label has raised approximately 120 billion won ( $80 million ) in a Series B funding round, according to Bloomberg .

The South Korean K-pop label, whose producers created key tracks on the KPop Demon Hunters soundtrack for Netflix ,  attracted co-leads Krafton , the company behind PUBG: Battlegrounds , and Tencent Music Entertainment Group , China’s largest music streaming operator, Bloomberg reported on Tuesday (May 26).

The deal values The Black Label at 1 trillion won (approximately $660 million ), with Saehan Ventures , an existing backer, also taking part.

“[This is a] strong foundation for the company to take a leap forward as an entertainment firm that’d lead the global market,” Jung Kyoung In , CEO of The Black Label , said in a statement, according to Bloomberg .

The Black Label was co-founded in 2015 by Teddy Park, the veteran K-pop songwriter and producer whose credits span BLACKPINK and BIGBANG hits, and fellow producer Kush.

The label was spun off from YG in 2020, and its roster now includes BLACKPINK’s Rosé, BIGBANG’s Taeyang, and solo artist Jeon Somi, alongside newer acts MEOVV and AllDay Project.

Its profile has surged over the past year on the back of the KPop Demon Hunters soundtrack, which Park co-produced.

The Sony Pictures Animation film became Netflix’s most-watched movie of all time following its release in June 2025 , and went on to win Academy Awards for Best Animated Feature and Best Original Song at the 98th Oscars in March, as well as two Golden Globes .

The soundtrack, released via Visva/ Republic Records , was the highest-charting soundtrack of 2025 , with lead single Golden reaching No. 1 on the Billboard Hot 100 .

For Tencent Music , the deal deepens an already significant financial commitment to South Korea’s pop music sector.

Last year, TME acquired HYBE’s entire stake in SM Entertainment for close to $180 million , becoming the second-largest shareholder in the K-pop company.

That transaction was accompanied by a broader partnership under which the two companies agreed to develop new idol acts for the Chinese market.

Elsewhere, parent company Tencent Holdings holds minority positions in both YG Entertainment ( 4.3% ) and internet conglomerate Kakao ( 5.95 % ), according to Bloomberg .

In February, TME struck a joint venture with JYP CHINA and CJ ENM focused on artist development in Greater China.

Krafton , meanwhile, has been channeling resources into entertainment as it looks to build a business beyond gaming.

Recent moves include the $517 million acquisition of ADK Holdings , a Japanese group with interests in advertising and animation, as well as a stake in Spoon Labs , a short-form video platform.

According to Bloomberg , the Black Label deal is expected to open the door to cross-media projects that draw on the label’s artist roster for use in gaming and other content formats.

The round comes amid wider investor appetite for K-pop content companies.

Bloomberg separately reported in April that Galaxy Corp. , a Seoul-based firm whose artist roster includes G-Dragon and Taemin , is raising capital internationally with a view to going public next year. Music Business Worldwide

_Originally reported by [Music Business Worldwide](https://www.musicbusinessworldwide.com/the-black-label-the-studio-behind-the-kpop-demon-hunters-soundtrack-just-raised-80m-with-investment-from-tencent-music/)._