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.
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.
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Source: Money Today