GFRIEND is a six-member girl group who debuted in 2015 under Source Music. Coming from a small company, GFRIEND worked hard for their dreams. Thanks to their excellent discography and iconic choreographies, GFRIEND became one of the most popular third generation K-pop groups.
Fast forward to 2019, Source Music, GFRIEND's company was acquired by Hybe Corporation, becoming a part of Hybe Labels. That news made buddies (GFRIEND's fans) happy, expecting to see the group achieve new heights. However, to their utter heartbreak, the group suddenly disbanded before they could even celebrate their seventh anniversary.
Last July 24, 2022, GFRIEND won trademark for their group name as the Korean Intellectual Property Rights Office rejected Source Music's first appeal to trademark GFRIEND. The reason for the rejection is that it would not be possible to register the trademark as the general public recognizes the name as being related to the six-member girl group GFRIEND.
Just yesterday, HYBE was under fire for their lack of enthusiasm in protecting LE SSERAFIM's member Sakura from online harassment.
And, today, HYBE is once again under fire as buddies speculate that it is HYBE's suggestion, not Source Music, to disband GFRIEND for not being profitable.
why Source Music didn't save Gfriend? because Source Music doesn't have power to do that ! Hybe holds 70-80% stake in source music. So, what can soumu do other than obey Hybe to disband Gfriend?
— L-K (@h1woodz) July 27, 2022
It turns out that the one who disbanded Gfriend was not Soumu's suggestion, but HYBE 🥲
— L-K (@h1woodz) July 27, 2022
"Hybe eventually disbanded Gfriend, and Source Music was assigned to nurture the next generation of girl groups as label Hive (a subsidiary record label). Honeycomb stock price trends."
In 2019, Source Music recorded a 91.64 million won net loss before being acquired by Hybe Labels and 2.3 billion won in 2020 after being acquired by Hybe Labels. According to NewsMT, "It was the aftermath of poor album sales and poor concerts."
What buddies have to say.
If GFRIEND ain't that profitable why they be desperately trying so hard to trademark the name then? 😂
— 🖤 (@Rhythflow) July 27, 2022
Hybe and Source Music don't know what narrative they should go for anymore..
time to bring this back!! who said gfriend is not profitable??!! gp knows that gfriend is responsible for building source music from ground up, and SouMu lasted for years that only have gfriend but when they got acquired by hybe they started to have debt, It doesn't make sense 💀 pic.twitter.com/pQ0QBKVWYV
— jin / loveade enthusiast (@yujindaryy) July 27, 2022
'Non profitable'. Isn't it you that keep begging wanna GFRIEND trademark. Lol what a pathetic company! Soumu Hybe🤬
— 세리세리🦋이브닝🎨 (@almeraserry2) July 27, 2022
Industry said otherwise🤌🏻Anyway, Gfriend is winning😎
pic.twitter.com/LN0Dsj11mw
What the reporter mentioned 🤔.
— The King 亗 (@The_king8748) July 27, 2022
"Hybe eventually dissolved GFRIEND"#GFRIEND #여자친구 pic.twitter.com/wfMwtLjibC
Fact: Hybe started managing #Gfriend AFTER Time for Us in 2019.
— fly with VIVIZ (@flywithVIVIZ) July 27, 2022
Fact: Time for Us was Gfriend’s best selling album. Gfriend was at their best until Hybe took over.
Then Hybe blamed Gfriend for their net loss in revenue. Fact: Gfriend was making profit until Hybe took over. https://t.co/49DYYpecrJ pic.twitter.com/tFqqeBcGsn
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