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.”
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