FiftyFifty’s CEO Jeon HongJun revealed to Naver that he ‘sold his car to cover the cost of their debut’, ‘they had to record in an acquaintance’s studio to lessen costs’ and also said that Billboard wasn’t even a thought in their minds at all & they had no money for global marketing at all which makes many kpop fans doubt.
But Jeon HongJun, CEO of Attrakt, said in a telephone conversation with Hankyung, their aim for FiftyFifty was to be the female version of BTS and They released the English version with The Beginning: Cupid’s (Album) release. Why would a company not aiming for the global market or Billboard release an English track on their 1st comeback?
FiftyFifty even released their album on a Friday which is a day American acts or more globally know Kpop groups aiming for a full weeks tracking on Billboard/Global charts release on unlike a Monday which most Korean acts release on especially Nugu groups.
The CEO and co-founder of Attrakt (FiftyFifty’s company) owns 2 other agencies & works for 3 other huge companies. Specifically he is the COO of the largest investment firm in korea called “Beyond Music”
He’s also the Executive Advisor at Warner Music Korea, He owns a company that specializes in IP Asset Management and Operations that has grounds in multiple countries like the US. He also buys catalogs in the music industry through that company.
The other company where he works as a CSO Corporate Executive that he managed to get in partnership with his own label, the same ‘Small Company’ as so he claims have celebrities like Song Joon Ki, Park Bo-Gum, Jung So-min, and more all under Blossom Ent.
Unless FiftyFifty’s CEO is lying on his resumé about working for all of these companies it appears he was untrue about the financial struggles of FiftyFifty and his company.
If Attrakt (FiftyFifty’s company) was struggling financially to the point the CEO had to sell his own truck, cut meals and couldn’t even afford to book a session at a studio to record their album why would they spend money on 300 songs to review and release 4 mvs for all 4 songs on their debut album?
That seems like such an outlandish thing for a company that is struggling to do. Makes many wonder how much money could he even have gotten when he sold his used car and how much he saved from cutting meals.
Mid-sized to Small companies spend around 50,000 to 300,000 on mvs. They certainly couldn’t have been able to afford to do that 4 times with the additional cost of makeup, styling, hair, staff and song production if they were struggling financially.
Attrakt is a company that’s only a 1 year and 10 couple months old and their only act and source of income is FiftyFifty yet they were already partnered with 6 different companies Givers, Interpark, JTBC, Warner Music Korea, Vezt and Zany Bros before FiftyFifty even debuted.
(Tweet was made 9 months before they debuted)
The Givers which is a creative content development group that focuses artist management (global).
Interpark is a SK company launched as an online auction website and shopping mall.
JTBC is one of the biggest SK nationwide television networks.
Warner Brothers Korea is the SK based enterprise of Warner Bros. one of the biggest American entertainment conglomerates in the film industry.
Vezt is a digital marketplace for artists and songwriters dealing with royalties and financing.
Zanybros is a South Korean video production company specializing in music video and commercial film production.
Many kpop stans have wondered how Cupid got onto big Spotify playlists such as Today’s Top hits, Top 50 – Global, Pop Up and many more when they were struggling to pull 1M a day while big kpop acts like BTS, Blackpink, Twice, Stray Kids and NCT either haven’t appeared on any of these playlist or they struggle to be added even with way more impressive numbers.
Especially when they haven’t charted nor pulled half the amount of streams anywhere similar to their Spotify or Youtube numbers on other popular streaming sites like Apple Music, Amazon Music, Pandora , or Youtube Music.
Many people suspect that Attrakt has been paying for Youtube ad views and Spotify playlisting to help FiftyFifty on the korean charts, Music shows and Billboard charts.