As FIFTY FIFTY filed a lawsuit to suspend an exclusive contract with their agency, it is said that their 1st music distribution revenue will soon arrive
According to TenAsia on July 11th, FIFTY FIFTY is expected to receive the settlement for their first single “Cupid” at the end of July. Industry insiders speculate that “Cupid” will generate at least 3 billion won (2.3 million USD) or more in settlement revenue, considering its success overseas.
On the other hand, “Cupid” is a singer released by FIFTY FIFTY in February this year. After its release, “Cupid” achieved records such as reaching 10th place on the Melon Top 100 chart, 9th place on the Genie real-time chart, 22nd place on the Apple Music Top 100 Global chart, and 3rd place on the Spotify Global Top Songs chart.
On the Billboard chart, “Cupid” also achieved records such as placing 17th on the Hot 100 chart, 2nd on the Global 200 chart, and 1st place on the Global 200 (Excluding the United States). In addition, FIFTY FIFTY is the 3rd Korean girl group to enter the Top 10 of BIllboard’s Global 200, and “Cupid” is the longest-running Kpop song on the Hot 100 chart.
Meanwhile, the first hearing of the preliminary injunction for the suspension of the exclusive contract filed by FIFTY FIFTY against their agency, ATTRAKT, was held at the Seoul Central District Court. Here, FIFTY FIFTY argued that ATTRAKT violated their obligations to provide settlement data and fulfill physical and mental health management, and that their support for entertainment activities was inadequate.
On the other hand, ATTRAKT argued that the CEO used up all his assets and even used the funds of his parents to invest in FIFTY FIFTY. 8 billion won is not a small amount, and it is excessive to claim that ATTRAKT lacks ability based on such speculation, the company stated.
Source: Wikitree
