so apparently bbc's financial problems has reached to a situation where their hair, makeup, stylists are notified to stop working, apparently even the employees were not paid on time and most of it were delayed, even the the taxes
LOONA's future isnt looking really good
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interesting
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Oh that’s Tttttea…
Kind of shocking because they consistently sell physicals better than some top ggs
Think of everything they have to pay for.
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Wow...
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Didnt their fans say the government paid for their pre-debut promo or some kinda of grants?
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Well not really surprise this agency had their eyes bigger than their wallet when you see the amount of money they spend on predebut activities and On their MV
I think they thought that with all the money they invested it'll bring them a lot of fans and loona would quickly blow up and become a strong gg
But it didn't happen and i guess they try to invest more and more everytime to bring them some hype but it just make their financial problem worst
I hope if they leave bbc a new agency can help them
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loona's entire concept is EXTREMELY expensive and they borrowed from a lot of investors in order to pay for the MVs, the budget, all the solos, the entire fleshed out concept, and the company is so mismanaged they can't pay it back. I'll make a bigger post explaining what is going on later but the problems are so bad, Jaden Jeong (the creative mind) left and things started to go down -- I think that is why LSM tried to invest in Loona. Granted I hate the musical direction he took them in but without that I genuinely think Loona would have disbanded then. BBC has no money whatsoever.
This was the last incident where:
LOONA as a group was a project that started with Polaris (BBC's parent agency), which this deal before the group was complete, with different investors in exchange probably for shares, or promotion contracts (the usual)
Among the investors is Donut, a Japanese technology company, which has an app similar to Vlive, during the pre-debut period, Yeojin had a segment in this app, a kind of live eating fast food (she did like 3 or 4 of these live) .. but after that (and the project was complete and it debuted) nothing was known about that app (although many commented that it was a terrible app, constantly dropping the connection)
At the end of last year and just after the last comeback, a news appeared ... and that is that this company had sued Polaris (and the subsequent BBC) for failing to fulfill its contractual obligations apparently by promoting the app and therefore , they wanted a return on investment.
The reason why the BBC or Poralis did not follow the agreement is a mystery, although the reason that Donuts made the move is probably due to rumors that the Korean subdivision of Donut was in financial trouble (if not that they had closed)
BBC made an appeal (at the beginning of the year), which was rejected by the court ... although it was rejected because both sides did not appear before the court (which means that BBC / Polaris is already determined to pay his debt and only delayed the decision, or they made a deal with donut behind the scenes)
The entire fandom did stream a lot to save the money for Loona, and that is a part in why they have large album sales
I don't know where I found this information but I saved it.
There's a lot of problems just like that, more than the concept, it was the execution that is bad.
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Yeah, I explained the situation above but now I think it's more than Japanese investors, there's rumors a k investor is getting angry.
Remember they spent 8.85 million dollars just for the debut solos of each girl even before the ACTUAL debut.
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BILLIONS?? yeah I loved loonas pre debut projects but it was too good to be true, no way a small company would be able to spend that much and make it back. even with loonas growing popularity, there are few kpop groups that can generate billions in revenue.
i really am hoping that loona can get transferred to a new company. they have serious potential to be big, it would be such a shame for them to disband when theyre still growing so much in terms of popularity. especially when they are generating revenue, just not billions. lord.
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Yeah, I explained the situation above but now I think it's more than Japanese investors, there's rumors a k investor is getting angry.
Remember they spent 8.85 million dollars just for the debut solos of each girl even before the ACTUAL debut.
They definitely bit off way more than they could chew. I really feel bad for the members and the other staff who now have to suffer because the higher ups don't know what they're doing. :sadface:
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loona's entire concept is EXTREMELY expensive and they borrowed from a lot of investors in order to pay for the MVs, the budget, all the solos, the entire fleshed out concept, and the company is so mismanaged they can't pay it back. I'll make a bigger post explaining what is going on later but the problems are so bad, Jaden Jeong (the creative mind) left and things started to go down -- I think that is why LSM tried to invest in Loona. Granted I hate the musical direction he took them in but without that I genuinely think Loona would have disbanded then. BBC has no money whatsoever.
This was the last incident where:
LOONA as a group was a project that started with Polaris (BBC's parent agency), which this deal before the group was complete, with different investors in exchange probably for shares, or promotion contracts (the usual)
Among the investors is Donut, a Japanese technology company, which has an app similar to Vlive, during the pre-debut period, Yeojin had a segment in this app, a kind of live eating fast food (she did like 3 or 4 of these live) .. but after that (and the project was complete and it debuted) nothing was known about that app (although many commented that it was a terrible app, constantly dropping the connection)
At the end of last year and just after the last comeback, a news appeared ... and that is that this company had sued Polaris (and the subsequent BBC) for failing to fulfill its contractual obligations apparently by promoting the app and therefore , they wanted a return on investment.
The reason why the BBC or Poralis did not follow the agreement is a mystery, although the reason that Donuts made the move is probably due to rumors that the Korean subdivision of Donut was in financial trouble (if not that they had closed)
BBC made an appeal (at the beginning of the year), which was rejected by the court ... although it was rejected because both sides did not appear before the court (which means that BBC / Polaris is already determined to pay his debt and only delayed the decision, or they made a deal with donut behind the scenes)
The entire fandom did stream a lot to save the money for Loona, and that is a part in why they have large album sales
I don't know where I found this information but I saved it.
There's a lot of problems just like that, more than the concept, it was the execution that is bad.
Can you please tag me when you make your post/thread about that topic?!
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Damn the company is in debt debt. Seems this is mostly due to the company having bad spending habits and handling their money more so Loona not recuperating their losses as we assumed.
The “immature management”
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Welp, their company is absolutely terrible with the management of money and it's such a shame for the girls. their concepts even before pre-debut seemed pretty expensive but I thought the girls would be fine since they seemed to be hitting big. I hope they'll be okay
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omg
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This is such a shame to read since some of their solos are some of the best work I've seen both musically and visually on Kpop, but yeah, it feels like the group didn't reach the huge expectations the company had (apart from this company being dumb af for other reasons).
I mean, let's put it like this: How are you going to make 12 solos predebut, each one with an amazing production both MV and music-wise behind it, from a company that nobody knew, and without physical release between any of it? It's such a huge investment with a pretty big risk behind it from the start. It's sad to see some of these amazing solos barely reaching 10M views even though their fans were trying their best to make them huge.
They were actually growing their physicals now and Chuu grabbed attention on Korea but it's maybe too late for that imcopetent company and all it's debts and accusations. I don't know how much LSM can keep them afloat at this point and it's such a shame because Loona members sure are very talented and they definitely have one of the best discographies out there.
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BILLIONS?? yeah I loved loonas pre debut projects but it was too good to be true, no way a small company would be able to spend that much and make it back. even with loonas growing popularity, there are few kpop groups that can generate billions in revenue.
i really am hoping that loona can get transferred to a new company. they have serious potential to be big, it would be such a shame for them to disband when theyre still growing so much in terms of popularity. especially when they are generating revenue, just not billions. lord.
I'm pretty sure they're talking billions in Korean won, not USD lol.
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this stresses me out
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you forgot the "..."
... has also become my "thing" huh?
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my prayers with loona and orbits too
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Is there any chances of this being fake news? I hope some big company buys bbc then, its better than their disbandment
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AMEN
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