After Penomeco‘s “Hunnit”, “L.I.E”, and “Good Morning” were released through SM Entertainment, fans began to speculate that something was going on between Million Market Entertainment and the giant entertainment company.

As it turns out, there was something happening between the two companies! At some point in time, Million Market Entertainment came under SM Entertainment.

The merger is similar to that of Mystic Entertainment.

At a recent SMTOWN workshop, the giant entertainment company confirmed that the smaller company was now a part of them.

Million Market Entertainment was listed under the division section in a powerpoint presentation.

Since the company is now a division of SM Entertainment, it means that all of the artists under Million Market Entertainment are now under SM Entertainment.

Some of the artists under Million Market Entertainment are Suran, Penomeco, Woo Taewoon, and former Boys24 member Doha.

This news may actually be really good for these artists. For instance, Penomeco released “WTF (Went Too Far)” 1 year ago and gained 213,000 views on YouTube, but his song “L.I.E” was released only 4 months ago and has already surpassed 2.6 million views!

The first was released under Million Market Entertainment and the other was released through SM Entertainment.

While Penomeco’s success can’t be completely chalked up to the move, it certainly doesn’t hurt to be backed by one of the largest music companies in South Korea. And other artists may feel some of the benefits too!