Posts by Chemotter

Quote from DaisyTheGenuine

I can't with these emojis I'm sorry 😅

I can't believe I'm living in an age where I'm looking for a translator for emojis.

Hybe should just bite the bullet. Give MHJ a fair contract until the end of her original contract. Give her full control over the creative side and leave the creatives to do what they want to do.

It isn't as if ador is in the red. They are profitable and they don't overspend.

I don't know why Hybe is going so hard against Ador. They should go hard against the likes of Hybe America and SoMu, who are racking up debt.

Quote from Rarami

Unfortunately, it is shortened from glitter. It is a hard G. Glit.

Heck no. People might be disappointed by his actions, but he hasn't committed any crimes. He still maintains his position and he isn't in jail.

You have to mess up more than Lee soo-man. That's the bar.

Quote from Catgirl

no, its actually pronounced glit

oof.

Quote from Owned_by_Irene

gllit would sounds almost no different from clit in Korean. knowing how BSH this had to be on purpose

글릿 kɯlɭit클릿 kʰɯlɭit

Probably the two Belift buffoons that made the plagarism rebuttal video made it.

Super Real Gllits.

If you like bussy, you must like Gllits.

How is this pronounced?

For the sake of the fandom, I hope it is pronounced Gee-llit.

alexS Love the pun. 사나 없인 사나 마나

Quote from K-PL

There is no debt remaining in Source Music.

Hybe US is in debt as they acquired various R&B and Latin labels.

From what I'm seeing/calculating, they have a debt to asset ratio of .7, which is shitco territory.

Quote from Taemin-Identity

How much debt do they have now? Can they pay off that debt?

It is around 17 million dollars. I think Hybe recently required their sublabels to take on debt to repurchase their stocks in the form of RSUs. SoMu's operating funds are acquired through debt.

It isn't too bad considering the size of Hybe. SoMu isn't even the worst of the bunch.

However, this begs the question as to how SoMu will make up this debt with LSRFM with such low physical sales.

Let's say the physical sales doesn't rebound, but the streaming numbers are great. You don't get that much money from streaming. That means it has to be offset by merch, endorsements, events and concerts.

Events and concerts are taxing on the artists. There is only a finite amount you can do. It is why I'm a bit worried about SoMu/Hybe running LSRFM into the ground.

Quote from Taemin-Identity

Can you explain why Source Music is in debt? Or break down why it is in debt?

Yeah. A good chunk of it came from their existing debt before Hybe gobbled them up. So they were already in debt and decided to disband Gfriends, who was the profitable group. They missed out on Newjeans when MHJ took some of their trainees, and they only recouped their initial investment. Then they started pouring a lot of money into LSFM.

Basically, they had a lot of expenses without the older established groups bringing in steady revenue.

Quote from K-PL

Big picture Korea doesn't matter.

The 2 big markets are US and Japan, and are 20 and 10 times the Korean market respectively. 1 / (20 + 10 + 1) = 3.2%. Twice I would say own Japan and the US touring-wise currently. Lsf seem to be on track to replicate this as a 4th gen group.

I think Korea/China/Japan matters if you want longevity as a Kpop artist. They were very smart going for Japan during their social media hiatus.

I'm really skeptical about them burning money to break into the US market. It is such a hyper-competitive market. If we've seen the peak of Kpop popularity during the pandemic days, this is going to revert to the mean really hard.

Quote from mysterikmagick

lol this is not for them. this is for the West 100%

Yeah. I'm starting to see that. It seems they are conceding that Korea is a lost cause, and they are focused more on US & Japan.

I'm a little skeptical about this direction since SoMu is in the red with a lot of debt, and Hybe USA has lost/is losing a bunch of money. I don't know how sustainable this is.

I may be wrong, but streaming doesn't make that much money. That must mean it has to be made up in terms of physical sales, merch, touring and endorsements.

This feels like VCs burning money for unprofitable tech/hyper growth. It is a boom/bust strategy.

I wonder if it is a distribution issue. Or is it that international Kpop fans are less likely to buy physical media these days?

Is high streaming/mediocre album sales better or high album sales/mediocre streaming better?

I'm a bit worried they are going to run LSFM to the ground through touring if the physical sales don't improve.

Hybe stopping LSFM's social media and regular media activities really killed their momentum. I hope it bounces.

Also, who decided to go with a vogue/house-type track as the title track? Korean GP love ballads, k-hip hop/r&b or the traditional kpop mashups of genre.

Between Crazy and Pierrot, I heard the word 'Girl' way too many times.

I fear it is a Blop for me. This track has the same problem as Solar's Color. It is very meh and didn't go anywhere.

하이브·민희진 수천억 걸린 치킨게임…뉴진스는 어떻게?

“수천억원이 걸린 치킨게임이다.” 지난 27일 어도어 이사회에서 전격 해임된 민희진 전 대표와 하이브 간의 갈등을 본 한 엔터업계 관계자의 말이다. 거액이 걸린 상황에서 양쪽이 한치의 양보도 없는 극한 대립 상태에

n.news.naver.com

"According to the relevant clause, three years after the company’s establishment (starting this November), former CEO Min can request Hive to purchase up to three-quarters of his 18% stake in Adore at a certain price. There is talk in the securities industry that the price could reach up to 100 billion won depending on the pricing criteria. The New Jeans World Tour is scheduled for next year, so the amount could increase depending on the success of the show."

"Some in the entertainment industry interpret the dismissal of former CEO Min as an attempt to prevent the exercise of the put option rather than the loss of the position itself. It is currently known that Hive is looking for investors to convert the convertible bonds ( CB ) issued in 2021 (issuing new bonds to repay existing bonds). Since Mirae Asset Securities, which invested at that time, can exercise the put option (worth 150 billion won) starting in September, former CEO Min's exercise of the put option could be a variable in a situation where they need to stockpile up ammunition in case of an emergency. An entertainment industry insider in charge of financial affairs said, “In the current situation, if former CEO Min pulls out the put option card, it could be a significant burden for Hive.” In response, Hive said, “We have no position to disclose.”

"If they were to leave Adore with former CEO Min, they would have to pay a penalty of at least 300 billion won. For this reason, even if Hybe and former CEO Min engage in a legal battle, it seems that there will be no changes in New Jeans’ activities for the time being. Both sides have stated that “New Jeans is the top priority.” There are also securities industry predictions that New Jeans’ contribution to Hybe’s overall operating profit this year will reach 14%, so Hybe will not be able to let New Jeans go easily. Popular music critic Kim Do-heon predicted, “K-pop projects are not prepared one or two months in advance, but are completed several quarters in advance. Regardless of former CEO Min’s dismissal, New Jeans’ planned new album in the second half of the year and world tour next year will proceed as planned.”

Quote from haricot

Biggest risk for NJ is hybe delaying their first full album release, beside that they'll be fine

Hybe can't afford to put Newjeans in the dungeon. Apparently, Mirae Asset Securities got put options, and they can exercise next month.

하이브·민희진 수천억 걸린 치킨게임…뉴진스는 어떻게?

“수천억원이 걸린 치킨게임이다.” 지난 27일 어도어 이사회에서 전격 해임된 민희진 전 대표와 하이브 간의 갈등을 본 한 엔터업계 관계자의 말이다. 거액이 걸린 상황에서 양쪽이 한치의 양보도 없는 극한 대립 상태에

n.news.naver.com

"even if Hybe and former CEO Min engage in a legal battle, it seems that there will be no changes in New Jeans’ activities for the time being. Both sides have stated that “New Jeans is the top priority.” There are also securities industry predictions that New Jeans’ contribution to Hybe’s overall operating profit this year will reach 14%, so Hybe will not be able to let New Jeans go easily. Popular music critic Kim Do-heon predicted, “K-pop projects are not prepared one or two months in advance, but are completed several quarters in advance. Regardless of former CEO Min’s dismissal, New Jeans’ planned new album in the second half of the year and world tour next year will proceed as planned.”

Quote from Yinye

The court that MHJ and her lawyer reference is about the injunction ruling previously - which was about if HYBE could fire her at THAT previous AG meeting. The court ruled that HYBE could not since she was protected by the shareholder agreement.

Nothing to do with the HYBE cancellation of her shareholder agreement and firing her as CEO.

The shareholder agreement’s cancellation - whether or not it HYBE did it legal or not — we have to wait for the FSS or new court ruling. HYBE said they did it legally and public FSS record noted it was processed in July.

It’s funny to read that MHJ and her lawyers emphasize that the agreement can’t be cancelled without her agreement.

Display More

The fact that Hybe didn't state whether she violated the clauses in the shareholder's agreement is significant. In Hybe's statement, it basically says the directors of Ador aren't beholden to the shareholder's agreement. That's the reason why they can dismiss her. They sidestepped the question as to whether the contract was breached or not. Then they vaguely push the issue towards the courts.

This is a pretty bad statement by Hybe in terms of optic.