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[Hankooki] Cube Entertainment, Q1 Revenue increased by 13.7% compared to last year

Cube Entertainment has announced on 15th May that the revenue of the 1st quarter (Q1) has increased by 13.7% to 3.8361Bil Won. In the same quarter, operating profit has fallen by 20.8% to 0.33497Bil Won, which gives Cube Entertainment a net loss of 2.07181Bil Won.

Cube Entertainment expressed, “The increase in operating costs was due to one-off fees incurred for the merger with WooriSpac2, and had no relevance to current year’s real performance. The performance level in Q1 is not worrying. Moreover, if the commissions and listing fees were not included, Q1 profit would have a healthy performance as to Q1 of 2014.”

A total of 2.3Bil Won of these expenses do not have an effect on the company’s cash outflow, thus fully reflecting the performance in Q1. As such, it is expected that Cube Entertainment will have an improved performance from Q2 onwards.

Currently, artists of Cube Entertainment will be holding overseas activities more actively, thus, there is a higher expectation on this year’s revenue.

Last month, BEAST held Hong Kong fan meeting as a start, and will start to hold performances from May onwards, in Hong Kong and Taiwan. Also, they are currently coordinating schedules to enter into the Chinese lands. 4minute had charted #1 for 10 consecutive weeks on China’s largest music site QQ Music KPOP Albums category, thus showing potential success in China.

Meanwhile, BTOB had recorded sales of their Japanese album by 100k copies and had even held concerts successfully. Moreover, member Yook Sungjae who starred in ‘Who Are You – School 2015′ will certainly boost his star status, which will seemingly be able to contribute a large portion to Cube Entertainment’s growth.

Furthermore, iHQ, the largest shareholder of Cube Entertainment has recently form alliance in the broadcast media industry. With the synergy it can potentially bring and the advancement to foreign market, Cube Entertainment will be able to diversify its operations, as according to Cube representative.

CEO Park ChungMin expressed, “Q2 onwards, Cube’s main artists BEAST, 4minute, Hyuna, BTOB and more will make their comeback one after another. It is just a start to Cube Entertainment’s performance,” and, “With our merger with WooriSpac2 and listing on KOSDAQ, this year would be a year where Cube moves in the direction of becoming a leading KPOP entertainment,” he emphasized.

Please take with full credits.

Trans: loveindacube.wordpress.com

Source: Hankooki

[OSEN] BTOB, after Yook Sungjae, Seo Eunkwang? The Rediscovery of Idol Vocalists

Idol group BTOB riding their word-of-mouth title idol team with ‘The Best Vocalists’, are becoming a hot issue.

Appearing on ‘Masked Singer’ previously, Yook Sungjae’s charming mid-low vocals attracted attention and raised attention for the group he’s in, BTOB. On that show, he mentioned, “My singing is the most lacking in the team. I’ve been busy following after Hyungs,” thus raising many music fans to relook into idol’s best vocalist group BTOB.

The first to follow after, is none other than main vocalist Seo Eunkwang and his cover song he sang recently at a radio program, which was immediately a community talk and gained good comments. The video in question was from KBS Cool FM ‘KPOP Planet’ in April whereby Seo Eunkwang was invited by DJ Im Hyunsik as a guest. Seo Eunkwang’s ‘Singing ‘She’s Gone’ while sitting down’ video has belatedly become a topic.

In this video, Seo Eunkwang sang Steelheart’s famous song ‘She’s Gone’ while sitting down. He perfectly nailed the high notes that raises goosebumps. In particular, Seo Eunkwang’s funny expressions yet showing an exceptionally well singing skills, including his skills in hitting the neverending high notes, had left the eyes of the other guests wide open.

Seo Eunkwang is the main vocalist and the leader of BTOB. He is also the charming guy of BTOB, filled with a good personality and entertainment senses. However, when he’s on stage, Seo Eunkwang’s emotional side and powerful vocals take over, which is a 180 degrees from his initial image. He also acts as the main driving force for BTOB’s title as a capable idol group.

Yook Sungjae’s appearance on ‘Masked King’ has gained Seo Eunkwang a spotlight at the same time. This was because music fans are already well aware of his singing skills. Seo Eunkwang have been showing his solid skills on broadcast, radio, online videos, singing cover songs, and thus, was already a well-known capable singer through mere word of mouth. With Seo Eunkwang, as well as the vocal and rap units of BTOB, gaining the attention off and online, there is a strong expectation for BTOB’s upcoming activities.

Meanwhile, BTOB is preparing for a new album and have been attending domestic and overseas activities. Yook Sungjae also plays the role of 4D Gong TaeKwang in KBS2TV drama ‘Who Are You – School 2015′

Please take out with full credits

Trans: loveindacube.wordpress.com

Source: OSEN

[Munhwa] Cube Entertainment. “Humane education since trainees period… No big scandals”

Cube Entertainment Park ChungMin CEO

Entertainment agencies themselves have distinguishing features to differentiate itself. Because ‘Star = Agency’, as artists rise into stardom, although the company value rises as well, the reverse goes to when an artist is caught in unfavorable scandals. That that is the reason why risk management plays a huge role. Following this, Cube Entertainment, the house for idol groups BEAST, 4minute, BTOB and many more, has made a clear differentiation from its exceptional business philosophy.

“Having minimal or zero scandals is Cube’s strength”, said Park ChungMin CEO. “Stars who live on his/her recognition from the public may left with nothing if he makes one single mistake. Each and every one of these stars form the existence of the company. Admitting this correlation, it builds out company’s business philosophy. As such, we take risk management as our very first priority.”

Cube’s risk management starts even during trainee times. Regardless how amazing in terms of skills, if he/she has a character problem, Cube will not choose them (to debut). This is because it’s hard to change their character even after debut. Also, after contracting with Cube, trainees have to undergo long-term humane education and consultation sessions with experts. As they are easily exposed to difficult and malicious comments from the public, it is an important step to reinforce their mental state, rather than just their career path.

“We don’t emphasize excessively on risk management either. When they become famous celebrities that lives on public recognition, it is important to supervise and for them to able to self-manage themselves. With this, when they have a better enhancement of such skills, they can be a long-run stars. Therefore, moral education such as sex education is one of the main priority as well.”

Established in 2008, Cube Entertainment which has grown up steadily without any scandal, finally makes its debut in 2015 last April. While they maintain groups BEAST, 4minute, BTOB, G.NA and other artists, as compared to other companies, Cube Entertainment often launches unit groups or solo activities from its existing groups. BEAST Yong JunHyung, Yang Yoseob, Lee Kikwang, Jang Hyunseung and 4minute Hyuna could fill the stage even if they’re promoting solo. Hyuna and Jang Hyunseung further formed Trouble Maker, which has gained an exceptional popularity, while Yang Yoseob and Heo Gayoon’s duet, too, have garnered good responses.

Rookie group BTOB recently have sold more than 100,000 albums in Japan and that had sped them up the Oricon charts at #2. Their latest family member, CLC, who debuted last March too, has recently completed their successful debut. The essence is to manage existing groups and to launch newly educated groups.

“Cube focus on pushing individual’s ability. Although we build a rookie team based on planning, they have to develop themselves further for the long-term prospects. As such, BEAST’s album are all produced, written by Yong JunHyung while Hyuna and Jeon Jiyoon took on roles as producers as well. The cultivation for later development of an artist should not be neglected as this plays a role for the long term sustainability of the company.”

Cube’s opinion to go into overseas market so to extend the popularity of KPOP is the same as any other agencies. But there are parts which are different from the rest. It is their goal to enter into China, Japan and including the third world countries such as Vietnam and Indonesia. Currently, BEAST and BTOB are receiving the spotlights in Japan while 4minute’s latest track ‘Crazy’ was crowned #1 for 10 consecutive weeks. CLC, as well, have garnered attention with their debut song charting as one of the TOP 10 songs.

“We are spreading out to four market regions – Korea, Japan, Chinese (China, Taiwan, Hong Kong) and South East Asia, as our long-term strategy. There’s a huge needs for KPOP and it seems promising in the South East Asian market. We have to throw away prejudices that we must first debut groups in Korea before we can enter foreign markets. We believe that if we can cooperate with local agencies, we could debut idols locally and allow them to stand on their local arena.”

Cube’s list of support is solid too. Cube’s largest shareholder, is iHQ that holds actors Kim WooBin and Jang Hyuk. Recently, iHQ has merged with CU Media, alongside with Dramax, K-Star, a total of six channels. This has further diversify channels that Cube can use.

“We have already set up Task Force group to implement our various projects. There are synergies that we can capitalise on. There are a lot of questions with the fall of share price since our debut. We are coordinating internally, and I believe its tangible results will soon reflect on the share price soon.”

Please take out with full credits

Trans: loveindacube.wordpress.com

Source: Munhwa

[Company Talk] Cube Entertainment’s harsh debut on KOSDAQ.. Reason why Cube is unconcern?

Cube Entertainment which had recently become the first entertainment agency to go through a listing via a SPAC, had a harsh time for almost the whole month since debut.

On 6th May, Cube Entertainment’s share price has dropped by 1.62% to 3,040 Won at its closing price. As compared to April 8th when they first listed (the price then was 3,735 Won), the price has dropped to about 18.6%.

But Cube Entertainment are highly confident despite the harsh circumstances. Idol group Beast and 4minute are preparing for their China advancement. Even before any releases, the responses obtained were great, and this is the reason why they believe foreign sales will increase steeply.

Accounting firms estimated that Cube Entertainment will have a sales revenue of 26.2bil Won, an increase by 36% compared to last year’s sales revenue of 19.3bil Won.

To note, this figure has yet to take into account of the estimated sales from the Chinese market, thus, Cube Entertainment is expected to achieve the rather modest figure, according to Cube representative.

The following are a set of Q&As with representatives from Cube Entertainment.

Q: Cube Entertainment had once withdrawn from IPO, what’s the reason behind it?

A: In the first quarter last year, Sewol incident happened and that took a toll on our sales revenue. Currently our domestic and foreign sales are in the ratio of 70 to 30. We aim to increase to 50:50 so that any threats to local sales will not influence  our overall sales performance.

Q: What is your outlook on this year’s performance?

A: There are no official estimations from the company. However, according to estimates given by accounting firm, sales revenue would be 26.2bil Won. This has yet to take into account of the China advancement BEAST and 4minute are preparing for. Given China’s sales, the target given will be easily achievable.

Q: Which group is contributing a high portion of sales?

A: Looking at sales growth alone, 7-members group BTOB is good. BTOB member Yook Sungjae is recently gaining good responses from his appearance on KBS2 drama ‘Who Are You – School 2015′.

Q: How is the visibility (of Cube artists) in China’s sales?

A: 4minute and BEAST are planning to advance into the Chinese market this year. Last week, BEAST started with a fan meeting. The responses for 4minute was better than expected. Although there were no albums released, 4minute tops on QQ Music Chart. Although we have yet to start, there are extremely strong demands from performance organizers for 4minute. If we officially set foot in the market, we see that sales revenue from China will increase.

Q: Regional expansion plans other than China?

A: We have advanced into Japan and the responses for BEAST and BTOB were great. A half of the foreign sales revenue came from Japan. The rest were from Europe where we held infrequent performances. Currently we do not have plans to advance fully into the South East Asian market, but we are keeping a keen eye on it.

Q: What is the strength of Cube Entertainment as compared to other entertainments?

A: We deal in contents production but we are persistent. Some companies only released two albums per year, but Cube Entertainment releases an album a month for Cube artists. I think it’s a charm for investors who seek stable earnings.

Q: For entertainment companies, reliance on one member has a strong star risk, and that is most of the time the largest weakness. How do you manage it?

A: When we debut idols, we do not choose friends who are problematic, even if they have good skills. Among our employees, we have people who worked in JYP Entertainment for a long time, and thus, they have the know-hows on artists training. Star risks are the most important aspect for (our) company. So far, no such case has happened.

Please take out with full credits

Trans: loveindacube.wordpress.com

Source: NEWIS

[Oh My News] The misunderstanding towards idol actors… Our efforts to reverse it

To note: This is an old article from September 2014

[I am Manager] Cube Entertainment’s executive head for acting department, Jung ChulHan’s management.

(Companies) Are always meticulous when idol singers challenge to act in the acting field. Although efforts of hard work and luck may usually earn them recognition from the public, there will always be a negative opinion cast upon them. Having to co-exist with actor-aspired trainees and top actors, rather than skills, there are many who would view idols’ as using their star power and fandom to strengthen themselves (in the acting field).

The acting department of Cube Entertainment (who raised idol groups 4minute, BEAST, BTOB and many idols have) have recently face considerable amount of trouble (in light of such perceptions). Jang ChulHan, who used to be the manager of Woo HeeJin, Cho YeoJung, Park SiHoo, Cho DalHwan, Nam Gyuri, Ryu HyunKyung, Lee ChoHee, Ryu SeungRyung, is now the Executive Head of Cube Entertainment and plays the role to drive new business opportunities in the acting field. It has been a year now since moving to Cube. [T/N: This is an old article dated September 2014]

“It’s a risk, for sure. There is a strong prejudice towards idols acting. But I think this is a responsibility of a manager to break that. When I first came here, I was curious about taking charge of training idols in terms of acting. Unlike what I have thought, I realized that I had a very wrong perception. From what I have experienced in managing rookie actors, I realized that idols are much more diligent. They want to learn more, they want to consult (about their acting) even more (than rookie trainees). I am very sure that the public will be touched to see their hidden hard work. Look at Im Siwan-ssi who is under the spotlight recently. These were not from normal hard work. These were efforts like they’re fighting for their lives.”

“In order to break the negativity, (idols) should have the right attitude about acting”

Jang ChulHan Executive Head quoted President Hong SeungSong’s (President of Cube Entertainment) words, “I want to create a team that can maintain a sustainable competitive advantage,” he aspired. Competitors like SM, JYP and YG are everywhere to create an acting department. Looking at this situation, Executive Head Jang expressed, “Although skills are necessary, it is important that idols’ carries the right values towards acting.”

“I would like to advise the general idol groups who are promoting actively too. Although securing a role and doing well in it is important, it is important as well to have a good attitude since the general public are always looking at you with prejudice. To break all these negative light, recently we started acting classes since trainee times. On average, they would prepare for about 3 years, and we will see after that.

I believe that movies will soon ride the Hallyu wave. Who would think of KPOP becoming a strong influence in South America and in Europe? Japan and Europe that have been actively inviting Korean movies have at least one idol star the main public is familiar with. I see it as a potential advantageous aspect. However, recognized acting skills is required. It’s hard to venture into the field just through popularity. The audience and viewers are now the second critique other than professional critiques. To satisfy their expectation, we need to have trainings in place.”

Executive Head Jang Chul Han emphasized that in order to raise such stars, the secret is ‘to form a consensus’. Sharing the thoughts of artists and understanding their personality and character is the main priority. Executive Head Jang expressed, “In order to discover the potential in people, we have to be a manager that is a family friend to them,” and, “Rather than a business relationship, we have to let them feel the thrill in acting first.”

“Impending need to have a one-of-a-kind management system that exist only in our country.”

Executive Head Jang who was born in 1979 and up till 2003 was just a normal employee. He was once just an employee in a technical sales department of semi-conductor company before he became a manager. “One day, I set face at the department head and asked myself if I will be happy sitting at that position in the next 10 years.” and, “A younger dongsaeng that I knew encouraged me to try management, and that is how I am here right now,” he confessed.

“It wasn’t any so-called elite course. I would receive 300,000 Won per month and I had to manage rookies. About for years ago, I was in charge of a famous actor, and I started to be take interest in the system. I find it interesting to produce and implement a system that raise stars, recruit new talents and provide them education.

“In the early days, I learned a lot from actress Woo HeeJin noona. She was like a shooter. There wasn’t anyone to teach me at the shooting area, noona would ask me to do things and that taught me to learn how to become a manager. She won’t scold even if I did something wrong on the spot, but she will point it out to me when we are alone.

Cho DalHwan-ssi is an actor that follows his heart. As we work together, we fought a lot too. When we talk about the production, Cho DalHwan’s eyes would spark with passion. Rather than money, he is an actor that looks for happiness in what he does. He started Calligraphy when I was his manager too. Together, we have created a synergy effect.

I was really happy when Ryu SeungRyung-hyung found his best production. I get to experienced good movies, and experience advertisements. I was sad when I had to leave hyung. Hyung, too, hoped that I would stay too. We still stay in contact till today too. When I came to Cube, he quietly gave me a suit. I am really thankful and he is a person that I respect a lot.”

A manager’s responsibility is to deal with the conflicts between various medias and the celebrity. Everytime that happens, he see an urgent need to have a proper system in place. Executive Head Jang ChulHan said, “The first generation, second generation and the new generation of managers should not copy exactly American or Japanese systems, but to create our very own system” and, “If we only chase after the success of others, then it won’t be sustainable. It will eventually shorten the life of a manager.”

“Manager is not a person who brings celebrities around”

“I don’t say sweet things even if it’s an actor that I raise. I will express my points in a straightforward manner and try to resolve it. From the perspective of an manager, taking charge of a star doesn’t mean he/she becomes a star. And, it is not like a manager from bigger companies are better managers. Talking with actors and understanding each other is the main priority. We have to have a learning mindset better than a 3rd year high school student when managing artists.

Normally, celebrities will be graded as top, A-list and B-list. Among managers too, we have mainstream and non-mainstream cateogories too. It won’t do if managers do not know which rank they are in. Those who are not familiar with management often think that managers are those that follow celebrities around. But managers are working professionals in the cultural industry. The manager is an educator as well as a person with creativity too. A manager is a person who must be well-verse in many aspects. I think managers should not lack in any aspects.”

His final target is to be a manager that produces good contents. Executive Head Jang ChulHan explained, “While raising a good artists or actors, we have to communicate via our hearts and try out productions that we both are interested in,” he xplained. Currently under Cube’s list of actors, there is Kwak Seungnam, Jo SeoHa, Na JongChan and other rookies. Artists that are currently under the spotlight are important, but he expressed his aspirations to have a “Pearl that will surprise the world”

“Kwak Seungnam-hyung used to be a singer under a group name Indigo, thus, he understands the life of a celebrity. As compared to his age, he is really humble. He will soon show his brightness through his skills. SeoHa has a strong mentality as compared to anyone else. She tried her very best even during the auditions too. She would memorize the whole script for a given role. She has amazing concentration skills too. Na JongChan had been training for 5 years, since JYP times to Cube. He is a sincere and a kind friend. It is my responsibility to help them to bring out each of their strength and uniqueness!”

Please take out with full credits

Trans: Loveindacube.wordpress.com

Source: Oh My News

[Money Today] Cube CEO, “To Raise Vietnam version ‘BEAST and Thailand version ‘4minute'”

Park ChungMin, CEO of Cube Entertainment, “BEAST, 4minute advancement to China + Maximise BTOB’s sales.”

“We will be cooperating with local management partners in the South East Asia region, such as Vietnam, and raise Vietnam version BEAST and Thailand version 4minute.”

Meeting up with Cube Entertaiment’s Park ChungMin on 29th April, he revealed, “In line with the strong KPOP influence it has brought to Asian countries, we will cultivate and raise local idols with Cube’s advanced system.”

CEO Park, “We are preparing idols with Taiwan and Hong Kong companies to target the Chinese lands and in the midst of detailed discussion on action plans with Thailand and Vietnam companies,” he emphasized. Scouting talents locally and debuting them in the local market, is Cube’s upcoming strategy.

Founded in 2006, although Cube Entertainment has produced many popular groups like BEAST and 4minute, as compared to the large entertainment agencies, Cube lacks in overseas experience. As such, CEO Park joins hands with local partners to enter foreign market and, eventually, Cube has decided to enter into local projects.

"베트남판 '비스트', 태국판 '포미닛' 키우겠다"

CEO Park, “China, being the largest Hallyu market, is filled with intense competition, that only the top will survive,” and, “Rather than competing with local corporations in China, we should explore other markets, such as South East Asia, that are specific to their contenxt.”

CEO Park added, “Unlike the industrialisation in Japan, China and South East Asia is a market where they are still developing systems.” and, “We have to create artists that can succeed even if they are not tied to the term ‘KPOP'”

This year, together with the training systems mentioned, Cube are planning for BEAST and 4minute’s Chinese advancement. Focus will be given on BTOB’s growth as well.

BEAST has never released an album in China before, but it is expected that their popularity will increase with this year’s concerts, which has more than 10 stops. Last month, BTOB had sold 100,000 for their first digital in Japan.

CEO Park expressed, “This year, we will promote sales growth of all artists. Locally, BEAST are planning two albums. For BTOB, if last year was a period of investment,  then this year, they will reap the results.”

In particular, there are plans for artists to hold concert overseas, unlike the past two years. Although Cube Entertainment’s estimation for sales revenue and operating profit are 26.1bil Won and 5bil Won respectively, these figures have yet to take into account of revenue from China, thus, it is possible that the results will exceed the estimated figures.

CEO Park, “We are discussing on artists’ characters, animations and other possible business opportunities in the future. We hope to bring more synergy with parent company IHQ alongside the Hallyu Silk Road.

Please take out with full credits

Trans: loveindacube.wordpress.com

Source: Money Today

WooriSpac2 sees effect after merging with Cube Entertainment ‘Rising Share Price’

WooriSpac2 have completed merger with Cube Entertainment and will be actively involved in the entertainment’s operations. With Beast, 4minute, BTOB and other artists recording great results overseas, the share price of (WooriSpac2) has been soaring.

As at 2nd April, 10.44am, WooriSpac rose to 3655 Won, by 7.8% as compared to yesterday’s closing rate.

WooriSpac2 merged with Cube Entertainment on 30th March and as at 1st April, the largest shareholders were changed to 3 entities/individuals, including iHQ. Cube Entertainment’s CEO Park ChungMin, too, has taken over as the director (for Woorispac2). iHQ holds 36.0%, Cube Entertainment’s President Hong SeungSong holds 15.9% while iHQ’s chairman Jung HoonTak holds 3.0%.

The recent rise in WooriSpac’s share price was due to the company’s artists having strong results in overseas promotions. In particular, BTOB’s Japanese activities have significantly raise the revenue by 9%, as compared to the third quarter of 2013.

BTOB has recently released their first single album in Japan, titled ‘Future’. Up till 1st April, they have sold 100,000 copies and the single was charted #2 on Oricon weekly chart. These were the results although BTOB started their Japanese promotions merely 5 months ago,

In addition, BTOB will be holding solo concerts on 29~30th April in Tokyo Dom City Hall, and in Osaka on 3rd~4th May. It is likely that Cube Entertainment will reflect the performances in the second half of the year with this major source of income.

Researcher Lee HyunHee from Hyundai Securities expressed, “With their major artists promoting actively overseas in year 2015, we expect a strong increase in exports (of contents)”


Please take out with full credits

Trans: loveindacube.wordpress.com

Source:  Money Today