News / Headlines

Cube Entertainment Was Reported To Have A Huge Loss Last Year As Major Artists Left

By Siti Fatimah | March 06, 2017 08:01 AM EST


Cube Entertainment was a hot topic last year as they were having a financial problem. Many people speculated they had a huge loss as BEAST and 4 Minute left the agency. Those two major groups were their source of income, and thus their leaving made the agency suffered.

As reported by Soompi, the agency was reported to have a huge financial loss last year. It was reported that the agency has an operating loss almost $5 million in 2016. As the profit in 2015 was about $600,000, the overall loss was about $5.6 million. It was a huge loss for sure. As BEAST was reported to make 45% of their sales, the agency was having a hard time when the group left.

As reported by Koreaboo, the company was known to have a huge loss since reporting their earnings and profits for the first quarter. It was reported by Kyungjae Today, the Korean Portal news, that the company had a deficit for about 5.8 billion on Sept. 17, last year.

The agency gave explanation that the cost of acquiring a company went to the cost and thus for the half of the year, the margin was 2.3 billion won, but it increased to 3.5 billion won for the second acquisition.

The company might have been having hard times as their major groups, 4 Minute and Beast have left. But, they still find it hard to get profit as CLC doesn't sell much. As a rookie group, they have a long way to go. Their major income now has changed into BtoB. As the current major group in the agency, the agency has done their best for BtoB to shine more. They have also released the tent mini album "Feel'eM" on March 6.

With the comeback of BtoB and some members who have been active in variety shows and dramas, the company is expected to have better profits this year. Since there are many rumors that they agency cannot take care of the artists well, fans hope that they will do well for BtoB, CLC and many more groups.

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Tagged :  Cube Entertainment ha a huge loss, Cube Entertainment, BEAST left Cube Entertainment, BEAST, BTOB


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