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Crisis in the LOONAverse has arrived as Orbits (fans of LOONA) are worried about the group's future after troubling news has come about.
According to reports by a news agency in South Korea, BlockBerry Creative is experiencing a massive financial crisis, which could permanently affect LOONA's prospects at having a comeback in the future. As the discussion continues to grow, many are skeptical of a positive outcome owing to the severity of the situation.
BlockBerry late on employee payments; fans worried about LOONA's potential disbandment
A recent report made by South Korean news agency Sports World, revealed that the K-pop group's current label, BlockBerry Creative, is facing a huge lack of funds.
The situation seems to be worse than what people initially; especially after the previous lawsuit against Polaris Entertainment (the parent company of BlockBerry Creative). The company is yet to pay more than $600k in wages to employees, apart from taxes and insurance.
In 2020, news broke that a case was filed against Polaris Entertainment by Donuts (an IT Company) for not meeting the terms of their contract. Polaris was ordered by the courts to pay $304k to Donuts as compensation for not fully returning a leasing deposit, for which the latter had lent it money.
During early 2019, it was discovered by fans that BlockBerry Creative had only 15 employees within their company. The company was smaller than many had expected. Netizens had commented that if LOONA made up for 12 employees, then the other three employees would be the only non-idol staff at BlockBerry Creative.
Currently, Kim Sun-Hye is the CEO of BlockBerry Creative. The agency was established on March 22, 2016. It is a subsidiary of Polaris Entertainment, and currently only hosts LOONA as its sub-unit.
After the troubling news regarding BlockBerry's finances was revealed, many fans are worried about how the group's future will be affected by the massive debt that the label has incurred.
The K-pop girl group's debut was quite a unique and expensive one. Prior to their debut, all 12 members of LOONA had their own solo debuts and promotions, along with several sub-units comprising of members from the group. Many of the music videos were filmed overseas in several different countries.
LOONA officially debuted with all 12 members on August 19, 2018. In 2017, it was estimated that BlockBerry had spent over $3 million while preparing for the group's official debut. They made 12 solo debuts and three sub-unit debuts during their pre-debut activities.
Fans, opting to make the most out of the situation and stay positive, have been posting memes on social media. Others are holding serious discussions on what might happen.
Fans wonder if LOONA will be coming back for the foreseeable future, or if the group will be shut down. Many are hoping for the K-pop girl group to be transferred to another company.
Speculation about SM Entertainment's acquisition of the group is floating about. Lee Soo-Man, the founder of SM Entertainment, has worked with the girl group several times as a producer for their music releases.
