FIFTY FIFTY’s CEO lied about financial struggles
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.
You didn’t make it clear but Attrakt has two CEO’s. Co-CEO Jeon HongJun and the other Co-CEO and Founder is Sung il Ahn.
Jeon HongJun is the one that said he sold his car. He was the CEO of StarCrew Entertainment – label of HotShot, and Soloist/ex-WannaOne/ex-HotShot member Ha SungWoon. He also runs Attrakt M which is set up to oversee JTBC’s traditional music program efforts.
the story doesn’t make sense at all. even the fiffty2 members refute it.
well the fifty fifty hate train has arrived I see .
idk personally I will take these ceo’s interviews with a grain of salt tbh, after what min heejin always said in her interviews , how she keeps twisting and spinning her words, I don’t really trust any of these new ceos be talking about , cause people these days are very smart , they know kpop fans these days love that underdog story after what happened with bts and will try to recreate it.
Lol company’s money not his own personal money
they only sold 26K copies of their musics, but they use tiktok heating, spotify autoplay and youtue ads to make them trending.
That’s a lot of money and not enough profits.
Jimin sold almost 2M of physical albums, not to mention singles, streams and views which use none of that. All is profits, not cost.
Jimin clearly the one doing better here clown.
Lol. He didn’t explicitly say he struggled financially, he just said he sold his car and you just assumed that he lied about being poor. What do you know? Do you even know about liquidity? Company funds are separate, it’s not his own money and not as easy as you think to move around. At least, he’s smart enough to market his team properly.
Stop being so bitter authornim 😂 Like it or not 50 50 still are underdogs.
You sound like a loser who can’t accept the truth that they actually do have money and even though the company started with only them it’s backed by someone with a lot of money
They do have money, who said they do not have money?
Are you newjeans fan? Sigh you made a big fuss for such an insignificant thing
What does it have to do with ARMY? You are so pathetic🥴 cringe
The people who are shading these girls are from other 4th gg fandoms because they’re insecure. Armys have nothing to be insecure about these nugus. A hit tiktok song might be big for them but nothing to BTS anyway.
Newjeans stans are armys with a wig. And i saw a thread making exact claims as this and that person was an army. BTS stans want to gatekeep the rights to a sob story so bad. It’s like they can’t digest another grp who came from nowhere but still managed to get attention. Not saying they are threatened of 5050 because BTS already has a lot of achievements but it’s just armys pettiness who loves bullying and claiming everyone using BTS for clout.
it’s their ceo making claims about making the girls be the female bts when they have nothing in common. nugu bts surely didn’t have money/connections to even book a place for music shows, let alone paying tiktok heating, billboards yt ads in nyc, spotify autoplay, foreign producers working on a song with an english version. like bffr, their beginnings aren’t the same at all.
Huh? Are you dumb? What proof do you have that they paying for Spotify and tiktok. The song went viral there and playlisting started AFTER one month when it was already predicted to chart on billboard. If it was that easy why SM the oldest company in this business never managed to chart on hot 100?
Also i can definitely pull out baseless claims from 2015-16 VIP exols who insisted how BTS were not exactly nugus and bang pd had many connections and resources . You will believe what you want. This selective activism is sickening.
Why don’t the ceo keep BTS out from his own mouth 1st? “Female version of BTS?” How many female version of bts kpop wants? From BP to aespa to newjeans, now 50 girls.The one who using clout is the ceo.
By mentioning BTS’ name, do you really think it’s for clout? Because just a mention of their name can get you bullied and hated.
Are you really being insecure when someone says they want to be like bts? Whats the point bruh will that hurt bts in anyway? They must have idolised them, don’t you idolise anyone? These armys are really a pain in the ass when it comes to the talks involving thier oppas
Lol the one dragging fifty fifty is gg stans. Why army gonna care about this group? Its not gonna affect BTS at all. Its gg stans get threaten with this group as they already got highest monthly listeners for 4th gen.
Its actually funny that this post is very logical and has clear evidences that this group has industry push, they arent from poor company but their “fans” dont want to believe in that just bcs they really want that underdog story for them. For me for the begining it was sus that they dont have money but released 4 mvs, got 300 songs from foreign produces… For what? For pretty smiles? Its just funny that fans see such clear evidences and they are “nope, this is hate and I wont read this, stfu”. Its not a hate towards girls, those are facts you can easy find. BUT if this post would be about IVE/NWJNS/LSFM people would be crazy about how big industry push they got and this is unfair. Double standards.
The saddest thing in their situation is that their “fans” dont care about this group. Only cupid has such big playlisting and its their only song that has good streams. Why their 19M of fans dont listen to other songs? Also their fans drag every popular artist in kpop, I already saw shades towards Jimin, Aespa, Nwjns, IVE even BP and BTS and those tweets have like 10/15k of likes but members tweets have like… 3k of likes… Its just sad.
“Their fans”? Mainly big3 stan. That’s why “their fans” dont care about this group .
Their fans are not dragging anyone.
Also they don’t get a huge playlists like newjeans from the first week of release
Fifty get a playlists after 1 month of release when the song was actually so popular in tiktok and trust me the song really went viral globally cause in my country no one gaf anout kpop yet i know a lot of people who listen to this song they don’t even know its from a korean group
Also what evidence? Can you say that just a screenshot of the ceos achievements from a google search is an evidence?
Laughing at people who think this is by armys like we dgaf about this group at all cause fifty fifty is not in the same league as bts anyways. 4th gen gg stans stop hiding behind armys, i know this is your breed.
I think it’s funny when a group is beating Jimin and Suga and yet you claim “they are not in the same league.”
Sweetie, they are not only in the same league, they are currently at the top of the league.
lots of 4th gen ggs beating bts on korean charts too but nobody is saying bts got beaten or surpassed. trends come and go but legends last forever. i know by this time of next year, y’all will be singing praises about another trendy ggs/songs but y’all will never shut your mouth about bts surely. lmao so stop living in delulu land. let’s see if those ggs can last for 5 years at least, let alone comparing themselves with bts. the fact that each member of bts can have that much success with their solos alone, i’d like to see these 4th gen ggs’ members try to achieve even 1/10 of them in 10 years then we’ll talk.
what’s funny is that both of jimin & suga are in the top 10 melon meanwhile fifty fifty are in the top 40 lmaoooo 😂 so where are they beating bts nobody knows….
who are the a Lot Of 4th gen groups beating bts?
only newjeans & ive are doing well on kcharts 😹 other groups can barely chart & even these two will flop soon once the gp becomes tired of them
5 years? even 2 months will be good 😂😂😂 their sales are barely 20k despite that massive media play.
even rookie & nugu bts sold 300k in 2013 lmaoooo
>lots of 4th gen ggs beating bts on korean charts
Who are these “lots”? 🙄 side eyeing some armys so bad like newjeans surpassed ONE record of bts when it comes to PAKs and they’re considered lots??? get outta here
2 is plural, but there’s also aespa, gidle, nmixx etc but that’s kr charts anyway and it’s not really important because kr are crazy about trendy ggs right now but don’t know how long they will last until the next trends appear lol
How can you compare a soloist to a group? So with this kind of logic shouldn’t we compare bts’ achievements to this nugu rookies? And btw Jimin and suga are way relevant to your nugu group they both have an amazing solo achievements.
these nugus are beating THE bts? & they are at the top of the league?
😂😂😂😂
can you show me where plz?
come on don’t be shy…..
sales
jimin & yoongi >>>>>>>
itunes
jimin & yoongi >>>>>>>
spotify
jimin & yoongi >>>>>>>
billboard
jimin & yoongi >>>>>>>
kcharts
jimin & yoongi >>>>>>>
youtube
jimin & yoongi >>>>>>>
sns mentions
jimin & yoongi >>>>>>>
fame
jimin & yoongi >>>>>>>
awards
jimin & yoongi >>>>>>>
Just give up 😂 you are embarrassing yourself & setting these girls up. lying & living in delusion will not help you
I don’t know where too 😂 these people are desperate to put down bts! They are even lying now to save themselves
I don’t have anything to say to you speaking off stupidity 😂😂 bruh fr there are many groups who provide better songs than bts,twice,bp its just thier popularity getting them the attention and records. I am not a hater of these groups and twice is my ultimate group but its the truth and i know how to accept the truth. Not like you who constantly believe oppas are the no 1 in the world,, honestly you guys are the reason for bts getting hate
Honey both of jimin and suga are in the top 10 of melon meanwhile fifty can barely in the top 40/50 during zombie hours !!!!!! and Jimin is charting higher than them on hot 100 despite deleting 90% of his sales & having 0 playlists and radio plays unlike fifty fifty who are getting massive playlists 😊
Even a preschool kid can see who the one beating who here Lol
Group vs. single members of bts? twink, i know you’re dumb but seriously you gotta use your brain more often. and also this new trend did not beat yoongi and jimin, maybe your cokechella girlies but not bts for sure lol
? yeah talk to me when these girls be able to sell out stadiums in minutes :/ bts already experienced topping the charts lol and selling out stadiums, suga’s tour are all sold out clearly they’re still the top of the league 🚶🏻
Female bts? 😂 ok bye
hybe stans? they dgaf 😂 hybe groups fans can’t even name 1 member of this group lmaooooo
don’t stan either groups but clearly kpop stans the one who started this whole mess and started to pit up Fifty Fifty against Newjeans , gg stans always do this on ggs and they wonder why gg gets hated easily and blame double standards between bg stans and gg stans while clearly it’s gg stans themselves that claims they’re the feminist and protecting female idols’ rights that are also the first ones to drag other female idols 👤
Damn sis you’re really upset about a small group getting success, huh?
Exactly 😂
I really would like to get the genuine information..not just some fan pages tweets
Well, let’s say it’s true and they lied, so what? much better if the company have all those connections and money, FiftyFifty deserve to be in the spotlight because they are really talented, damn have you heard them live? Have you heard Lovin’ me? If they were a group without talent, maybe I would be annoyed that they give them all that attention, but FF deserve it!
this is the most stupid thing ive ever seen, first of all, they are two different people. second of all, company money cannot be spent for personal reasons. they were able to afford 4 mvs from investments but that may have not been able to cover all their fees. if you were a CEO, you would do your best to try and make sure your group succeeds, even if it means having 4 mvs & an English version of the song to try and get the international market. you wrote this article with the agenda of making them seem like liars without actually thinking about it.
this has to be the dumbest thing i’ve ever heard, y’all just hate seeing new groups succeed
ProWonyo no mom to leech off of no life
BITCH the story is all over the place lmaooooooooooo who the fuck was the “jornalist” ? YOU ARE TLAKING ABOUT TWO DIFFERENT PEOPLE U BITCH …. do a proper job jeez. anyways this aged like milk anyways haha