Avex may lose five billion yen due to TVXQ’s group hiatus

There’s no doubt that the official news regarding TVXQ’s hiatus in group activities was released on April 4 has been a big blow to Cassiopeians worldwide. However, they aren’t the only ones suffering from the announcement. A recent article in the business section of Sankei Shimbum (a Japanese newspaper) revealed the possible monetary losses that Avex is expected to experience due to TVXQ’s break.

Music critic Tomizawa Issei estimated the Avex’s financial consequences, saying, “Due to TVXQ’s inactivity, [Avex] would lose three to five billion yen in sales. Now the challenge is to decide how to fill in this deficit.” That’s about $32-53 million USD, or 36-60 billion won!

“Avex is very good at selling and discovering artists,” Tomizawa continued. “After the TVXQ disbandment theories began to spread last year, ICONIQ came out and became popular. This time around, there’s tension within the company; perhaps a new artist will be put out [in this time].”

A day after the TVXQ news was released, Avex’s stock prices dropped by 3 yen per share compared to last week’s price of 830 yen.

On the bright side, TVXQ’s popularity hasn’t been hindered by the recent announcement – in the past few months, the group has broken records held by Billy Joel, Elton John and Bon Jovi in Japan. It’s only been a few days since the hiatus news was announced, but more than six thousand messages of support have been sent from Korea, Japan and the rest of Asia alone. Furthermore, #alwayskeepthefaith even topped the trending topics list on Twitter.

Speaking of Twitter, Avex president Matsuura Masato made a few comments regarding the issue on his Twitter account, musing, “How big would the damage be…” Later, he also said in regards to TVXQ’s Japanese fanclub BigEast, “I do not know if the Korean side will allow us, but I can’t say anything in my current position. I’ll try to have BigEast continue.“

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Credits:ALLKpop
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