They raised some points within the factors made by the corporate’s CFO.
On February 20, SM Leisure‘s CFO Cheol Hyuk Jang uploaded a video on the official YouTube channel of the label, expressing his issues concerning the “hostile” takeover of the corporate by HYBE.
Within the video, Cheol briefly defined why he’s in opposition to the acquisition, stating three points that may come up from the merger.
SM Leisure Discloses Three Main Considerations For Their Firm And Artists Amid HYBE’s Takeover
He additionally defined his worry that HYBE’s acquisition of SM Leisure will create a market monopoly in K-Pop, which, in response to Cheol, will solely harm K-Pop followers. Taking ticket costs for example, Cheol said that HYBE has taken “benefit of its place within the K-pop market” to cost greater ticket costs. In distinction, SM has saved ticket costs decrease “to permit a broader scope of followers to get pleasure from cultural performances.”
A graphical illustration on the display confirmed the distinction between the live performance ticket costs of SM artists and HYBE artists. Cheol claimed that other than the unique subsidiaries, HYBE additionally bumped up the ticket worth for its acquired labels. Following this pattern, Cheol stated that an HYBE and SM merger would solely harm concert-goers.
The consolidation of SM and HYBE will speed up the ticket worth enhance, including burden to followers who love and help K-Pop and K-Pop artists.
—Cheol Hyuk Jang
However netizens usually are not satisfied of the logic supplied by the SM CFO. A number of hours after the video was out, the ticket pricing challenge turned a sizzling matter on social media. Those that opposed the reason raised two counter-arguments.
First, netizens argue that as HYBE manages the most important K-Pop group on the earth, BTS, live performance ticket costs are certain to be greater. However even then, netizens imagine the costs are truthful compared to these for Western artists.
now i’m getting aggravated as a result of he’s now blaming hybe for skyrocket of kpop tickets however not saying why…. hybe has the most important kpop group within the enterprise ofc the tickets need to go up a bit. like if sm had the most important kpop group it is going to be the identical as effectively . right here’s the chart pic.twitter.com/qSK8VvtVOq
— keke⁷ 🤍 (@stallseok) February 20, 2023
Additionally they don’t do dynamic pricing on Ticketmaster. So that you don’t see the loopy issues taking place like occurred with TS. Sure, there are a number of points, however they nonetheless worth the tickets…pretty? And ticketing his excessive throughout, not only for Hybe
— Annie Driscoll⁷ (@AnnieDHarpie) February 20, 2023
Second, netizens famous that the worth factors included within the graphics are completely different for the 2 labels. Particularly talking, the illustration in contrast the common ticket costs of aespa‘s live performance and the V.I.P. ticket costs for TXT‘s live performance, which embrace advantages like sound verify. When comparable tickets are thought-about, there’s little worth distinction between SM and HYBE’s concert events.
sure, they stated on the graph that they are evaluating the best ticket costs however the comparability would have solely made sense in the event that they’re evaluating tickets which have the identical advantages. if we’re taking a look at it in perspective, the worth enhance for the soundcheck profit is affordable
— ㄹㄹ (@dollzyunjin) February 20, 2023
not SM evaluating hybe’s VIP ticket costs with their common live performance ticket costs to help their narratives ?!😭 spreading misinfo intentionally cuz they know kpoppies gonna eat it up with out truth checks. so shameless pic.twitter.com/qXGDvjLDPb
— 𓃺⁷ (@nwjnsbts) February 20, 2023
Some individuals additionally identified that larger venues and dearer stage manufacturing are legitimate components that may enhance HYBE’s live performance ticket pricing greater than opponents, however not past an inexpensive certain.
To not point out, all these worth spikes are from HYBE getting them larger venues & higher manufacturing & gear. Then we had a complete pandemic that raised the worth for the whole lot.. 🙄
Evaluating that to the ticket worth of a rookie group who hasn’t even had a CB, lol
— Terra⁷ ⟭⟬ ⟬⟭ (@LadyAlustria) February 20, 2023
man idgi bc i appeared up the excursions of nct vs bts (the most important on the earth) internationally, the ticket costs are comparable. so like.. how are hybe accountable for ticket costs souring in the event that they’ve at all times saved their greatest teams costs low.. pic.twitter.com/2DLO4vawpq
— 🌻annie⁷💛HOBI DAY (@nayeonieseok) February 20, 2023
Take a look at extra about this challenge right here:
SM Leisure Releases Video Denouncing HYBE’s Takeover Of The Firm, Vows To Shield SM As It Is