2NE1’s promotion expenses for “To Anyone” totals $850,195!

It has recently been revealed that YG Entertainment spent $850,195 USD on “To Anyone” album promotions alone, the biggest any singer or group has ever had spent on them in promotion expenses.

A representative of YG Entertainment spoke on the 10th with Osen and stated, “The total production costs for their three music videos is $425,097 USD. Adding up their outfit costs, it comes out to about $595,136 USD. Then once you add bus advertisements, movie advertisements, and other expenses, it totals to $850,195 USD.”

He went on to reveal, “Once you also consider the amount each member gets paid every time they make an appearance, the promotion expenses for this album exceeds $1,275,293 USD. That’s how much effort we spent on their first official album.”

The cost of 2NE1’s first album is similar to the production cost of most movies, and the sheer total is definitely a risk with the current recession in the Korean music market. Not only that, but attempting to succeed with a triple title is not only unconventional, but surprising as well.

Many industry representatives have expressed their concern over such tactics, claiming that it’s hard enough to push artists to success while focusing on just one title track, much less with three.  Not only that, but confusion on the music charts is being prognosticated as well, due to the attention being spread out over three song.

YG Entertainment’s CEO, Yang Hyunsuk, knows of such concerns, commenting, “I, too, as a music producer, have heard of double titles, but this is the first time I’m hearing of a triple title track attempt. Despite it all, the reason behind our choice is not because we want to be #1, but because we want 2NE1 to show off a bigger variety of music styles.”

Regardless of the concern and skepticism from outsiders, 2NE1 seems to be doing quite well with the tactic thus far, dominating major music charts such as Monkey3, Melon, Mnet, and Cyworld.

Business is a constant game of risk and reward, so you think the risk is too much in these tough times or do you think their innovative tactics will be successful?

Source: Osen

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~ by vipforever on September 11, 2010.

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