Wanna One has been confirmed to be leaving YMC Entertainment and transfer over to Swing Entertainment, a brand new agency created exclusively for the management of the group for their final 7 months.
Swing Entertainment will manage Wanna One from June 1 to December 31, when their time as a group ends.
A statement was posted on Wanna One’s fancafe about the move.
“Hello. this is Wanna One’s new agency, Swing Entertainment.
Beginning on June 1, Wanna One’s agency will change to Swing Entertainment.
Swing Entertainment is an agency that was created just for Wanna One and the entire staff will put all of their energy into supporting them. For a smooth transfer, we will continue to collaborate with the previous agency, YMC Entertainment, for the time being.
Swing Entertainment promises to do our absolute best in supporting Wanna One, from their world tour to their new album and promotions. We ask the fans to show their love and support for Wanna One. Thank You.”
YMC Entertainment also stated that any future profits following the agency transfer will go to Swing Entertainment, and not YMC.
“Any future settlements will now be received by Swing Entertainment and not by us.” — YMC Entertainment
Swing Entertainment is a completely stand-alone company. There was some concern that it was yet another CJ E&M subsidiary, but that is not the case.
“It’s not true that Swing Entertainment is a subsidiary of CJ E&M. CJ E&M did invest some money into the company, but it is not considered a subsidiary, music label, or affiliate of CJ E&M. It is a brand new entertainment company.” — YMC Entertainment
At the end of Swing Entertainment’s contract with Wanna One, they are planning to recruit new artists.
“Currently Swing Entertainment is dedicated to Wanna One. When their contract ends, they will begin the process of recruiting other artists. They will 100% focused on Wanna One until their contract ends.” — YMC Entertainment