Pledis Entertainment’s stocks were owned 51% by Han Sung-soo and 49% by So-net, a Japanese internet provider. In June 2018, it was revealed that Korean conglomerate CJ E&M planned to buy stocks from the largest owner to obtain a 51 percent share of Pledis Entertainment. The company estimated that Pledis Entertainment’s value was worth around 50 billion KRW or 46.40 million USD. 51% of the shares were estimated at around 20 billion KRW or 18.6 million USD to 30 billion KRW. CJ E&M was looking forward to expanding its business in the Korean music industry. The company was keen to use Pledis Entertainment’s artists to boost overseas sales by promoting Korean idol groups. In 2017, CJ E&M purchased shares from Amoeba Culture, an entertainment company that managed Korean hip-hop artists like Dynamic Duo.
In 2017, Pledis Entertainment recorded more than 26 billion KRW sales while the following year it achieved almost 100% sales improvement. In 2018, Pledis Entertainment recorded over 49 billion KRW sales.
List of Company Scandals
In December 2018, Seventeen’s hardcore fans noticed that the “Getting Closer” MV teaser was uploaded to Pledis Entertainment’s YouTube channel instead of Seventeen’s YouTube channel. The fan-base worried that it will benefit more to Pledis and reduce the benefit for Seventeen members. The fan-base suspected that Pledis Entertainment’s plan is to merge both YouTube accounts and gain even more benefit. Seventeen fans decided to boycott Pledis Entertainment’s YouTube channel and started streaming the MV on V-Live instead.
They also noticed that Pledis Entertainment registered the Seventeen logo on June 3rd, 2017, two years after Seventeen’s debut date. Seventeen’s fans were also worried about Seventeen members if they decided to leave the group the members would be restricted to use Seventeen’s name.
Seventeen’s fans, Carats, complained to the agency for allegedly stealing gifts from Seventeen members. As a sign of support, fans sent gifts to Seventeen members, hoping them to enjoy the gifts as a result of their hard work. Fans found out that Pledis Entertainment’s staff used the gift items and ate the food instead of giving it to the members. As a result of the scandal, Pledis Entertainment decided to reject gifts delivered to Seventeen starting from 2020.
Keen-eyed fans noticed that Pledis’ artists use the same outfit far too often. Fans also criticized Pledis for not paying enough attention to their artists’ stage outfits. For instance, Pristin’s outfits were deemed too simple for stage outfits. They also accused Pledis of not giving enough support for hairstyling. Pledis’ artists use similar outfits when the performance concept is similar.
One of Pledis Entertainment’s former girl groups, Pristin was disbanded after only two years of activity. Fans expressed their discontent on social media. Among the ten members of Pristin, only three members were kept and given a new contract. The contracts of the remaining seven members were terminated. Fans accused Pledis Entertainment of recycling idol groups. They suspected that Pledis has a plan to form a new group using the three members and add new members. Pledis was also being inconsiderate by congratulating Seventeen’s anniversary on the same day after they announced Pristin’s disbandment.
Han Dong-geun was caught driving while being intoxicated on July 30th, 2018. He complied with the police investigation and confessed to drinking and driving. Pledis Entertainment released a statement to apologize for the incident.
Former Pledis Entertainment trainee, Han Seo-hee revealed her struggles during her trainee days through her Instagram account. In November 2019, she revealed that dance lessons could last up to four hours a day. The trainee must practice for twelve hours a day from 10 a.m. to 10 p.m. Even on Sunday, they have to practice from the afternoon. After finishing practice, trainees must take pictures of the time and share the picture in a group chat.
Pledis Entertainment announced that starting from 2020 they will stop receiving gifts from fans. They surely welcome letters and best wishes for the upcoming New Year from their fans.
That was all the information about Pledis Entertainment, its artists, and unfortunate scandals. Don’t forget to kindly share your thoughts in the comment section below!