NewJeans earned 26 billion won, paid off all ADOR’s debts in less than a year?
Despite having made their debut less than 1 year ago, NewJeans have already paid off all debts for their agency, ADOR
According to the 2023 1st quarter financial report of HYBE Labels, the total equity of NewJeans’ agency, ADOR, amounts to 37.8 billion won (around 28.2 million USD), with 20.8 billion won (around 15.5 million USD) being debts.
However, after 10 months of activities, the agency has reported a revenue of 25.9 billion won (19.3 million USD) and a profit of 3.9 billion won (2.9 million USD), after deducting related costs.
So far, NewJeans is the only artist under ADOR, which means that the girl group themselves has paid off all ADOR’s debuts within less than 1 year of debut. In fact, NewJeans members previously shared that they started to receive payments only 2 months after debut.
Meanwhile, NewJeans was first introduced in July 2022, and has since garnered huge attention with their consecutive hits, such as “Attention”, “Hype Boy”, “Ditto”, and “OMG”.
Source: K Crush