AOA Finally Escapes Debt To FNC Entertainment, Paid For FIRST Time In 3 Years Since Debut
After three years, girl group AOA has been reported to no longer be in monetary debt to FNC Entertainment.
With their growing popularity, an insider revealed to the media that AOA has risen out of the negatives and is seeing a positive in their account, finally getting paid from their work for the last year. This is also known in the music industry as the ‘break even point.’
During their trainee years, an artist will accumulate debt to their agency due to the money being spent on not only training them, but housing and feeding them as well, thus, an overall investment.
As girl groups usually amass a smaller fandom then male idol groups, it is a particular feat for AOA to pay off their debt to FNC in just three years. Over the years, AOA has released hit tracks such as “Mini Skirt,” “Short Hair,” “Like A Cat,” and “Heart Attack.”
A representative of FNC confirmed AOA’s position on their debt with the agency, saying, “We cannot reveal the specific amount [they’re getting paid]. The members will be receiving income from now on.”
Netizens reacted to the news of AOA no longer being in debt with some pointing out that agencies’ SM, JYP, and YG Entertainment pay their artists (read more) despite them not having reached their ‘break even point.’
Koreaboo has collected reactions from Netizens who commented on the original article from our Korean source. The below comments are the most popular comments at the time of this article being published.
[+9259, 258] First payment in 3 years……
[+8480, -312] They have to pay off their training fees, MV money, clothes, composition, production and everything before they get paid.
[+7002, -367] This just reeks of FNC media play
[+5679, -229] I can’t belive 3 years is considered fast..
[+3709, -228] Daebak..why such a long time…
Source: X Sports News