Attract, was it difficult to rent a practice room?
Establishment of a shaken company → Settlement problem
The reality of small and medium-sized entertainment companies without money
Establishment of a shaken company → Settlement problem
The reality of small and medium-sized entertainment companies without money
《Revival of Junho Yoon》
Reporter Yoon Joon-ho of TenAsia introduces trends in the entertainment industry. Let's take a look at what the public needs are and what makes them popular or uncomfortable.
Group Fifty Fifty's situation is getting closer and closer. The members did not trust the agency, and the agency turned the cause of the problem to the outside, saying that it was an intervention by outside forces. Fifty Fifty, which was called the miracle of small and medium-sized idols, entered the US Billboard charts. The distrust between them is deepening.
“Originally, the contract was terminated. I was leaving my luggage.
Last April, the reporter visited the 55th practice room located on the roadside of Hakdong-ro, Gangnam-gu, Seoul. Their practice room was located in the basement of a building along the road. Building manager A smiled when the reporter told him that 50 Fifty was on the Billboard charts.
When I visited Fifty Fifty's practice room, I was able to know, albeit indirectly, the financial situation of the agency, Attract. Attract is a new entertainment company established in 2021. Jeon Hong-joon, CEO of Attract, who created the company, is a producer with a lot of bones in the music industry. A person who produced Bobby Kim's albums and has ties to Yang Soo-kyung, Cho Kwan-woo, Yoon Mi-rae, and Sim Soo-bong.
Apart from the former CEO's career, it seems that the company's financial situation was not good enough. In fact, the vast majority of new companies are not well funded unless they receive external investment. Regardless of the size, if the invested group does not succeed, it is natural that the company's operation will be disrupted. Attract seems to have had difficulty paying the cost of renting a practice room until Fifty Fifty rose to prominence on the Billboard charts.
"I want to do a lot of activities. I want to let people know that success isn't just luck."
Fifty Fifty held a press conference when 'Cupid' was loved worldwide. At the time, Fifty Fifty wanted to prove that they were not 'one-hit wonders' and expressed their strong will for a long run.
About 2 months after that. A rift formed between Fifty Fifty and Attract. Among them, there were financial and systemic problems of the agency and health problems of the members. It seems that because of this, Attract and Fifty Fifty did not even communicate smoothly.
It was Attract that formulated the problem first. On the 23rd, through an official press release, it was claimed that “external forces are being identified that are approaching Fifty Fifty and enticing them to violate the exclusive contract with us.”
The external forces mentioned are 'The Givers', headed by producer Ahn Seong-il. Seongil Ahn, CEO of The Givers, signed a service contract with Attract and produced Fifty Fifty's debut project. CEO Ahn Seong-il is the creator of 'Cupid'.
Sympathy was gathered for Attract due to the suspicion of tempering (pre-contact before contract expiration), but it was the 55th members who turned the tables. On the 28th, the members announced, “On the 19th, we filed an application for a provisional injunction to suspend the exclusive contract against Attract, and the trial is in progress.” The reason was the agency's unilateral enforcement of activities and non-transparent settlement.
On the same day, The Givers side also announced a strong response, saying, "Attract mentioned 'external forces' intervention, but we have not intervened in any way."
The situation is still unresolved. If the contract is not properly executed according to Fifty Fifty's position, it is a problem with the agency, Attract. Conversely, if tempering is true, The Givers and Fifty Fifty cannot avoid criticism.
They called 55 Fifty the 'miracle of small and medium-sized idols', but in the end, it is heading towards a situation that will not last long. Attract, The Givers, and Fifty Fifty would have united and ran toward the same goal just a few months ago. But now, the reality of fighting each other in the mud is bittersweet.
Reporter Yoon Jun-ho, Ten Asia delo410@tenasia.co.kr