[theqoo] THE MONEY THAT NEWJEANS HAS TO PAY TO HYBE

"The specific terms of NewJeans' contract, which debuted in 2022, have not been disclosed, but the Fair Trade Commission's standard exclusive contract calls for a penalty equal to the average monthly revenue for the two years immediately preceding the termination date multiplied by the number of months remaining in the contract.

For the 24-month period from the second half of 2022 through the first half of this year, ADOR generated approximately (~135M USD) in revenue. This is effectively NewJeans' revenue, as the company relies solely on NewJeans for its revenue. Based on the FTC's standard exclusive contract, the penalty is at least 300 billion won (~213M USD).

There is also the issue that even if NewJeans becomes independent, it will have to give up the group name and its IP. Since Adore and HYBE own NewJeans' IP, the group would likely have to operate under a new name if it were to become independent. The bottom line is that it's not going to be easy for NewJeans to break free from HYBE's embrace."

At least 300 B won

That's how much they'll have to pay to leave HYBE

original post: here

1. Yeah they're not paying

2. You guys should pay

3. Do they really think that they'll payㅋㅋ

4. They won't pay no matter what

5. Tell HYBE to get ready for the penalty fees. They've already breached several contract terms, and that's just what's been made public

6. The reason for terminating the contract is the company's unfair treatment and contract violations, so why is the artist paying??ㅋㅋㅋ

7. They were the victim of negative virality so why should they pay?ㅋㅋ

8. The penalty fee fluctuating with market price, yesterday was the peak season for it, I guess

9. Phew, HYBE-yah, I bet that you'd hate it if you were to send NewJeans away right?