EXO-CBX's agency INB100 expressed regret over SM's media play related to non-payment of IP fees.
Since the INB100, EXO-CBX's independent label, held an emergency press conference on the 10th, accusing SM Entertainment (hereinafter referred to as SM), it has been noisy day after day due to the conflict between both parts.
INB100 said that SM promised to cut the music distribution fee to 5.5%, but failed to comply and demanded 10% of the sales of individual activities such as songs, concerts, and advertisements.
Baekhyun shot a pictorial for Dazed recently
EXO's Baekhyun for Dazed Korea. pic.twitter.com/iETKfTib8z
— About Music (@AboutMusicYT) June 14, 2024
According to Daily Sports on the 14th, the agency of EXO-CBX, INB100, did not pay SM fees for IP, including songs and artist names, from January to June.
Initially, INB100 decided to pay 10% of CBX's sales to SM on a quarterly basis, which includes CBX's IP usage fee. Due to conflict, they did not pay sales and did not pay IP usage fees.
In this regard, INB100 told Expositions News, "In the agreement in June last year, they allowed us to use IP, and there was no content that they would pay us in return. So, it does not make sense to claim that we have not paid IP usage fees when we have not received a request from SM to pay IP usage fees. Rather, at the press conference, we first suggested that we are willing to pay the IP usage fee to SM. However, SM has not responded to our position and is using media play saying that it is not paying IP, which is regrettable."
They have filed a lawsuit against SM Entertainment hoping that the court reveals the unfairness of their contract.
It'll be a long legal battle
EXO, eris, hold on tight
— 큥이빛✴︎ (@kyoongpride) June 12, 2024
we’ll be okay. pic.twitter.com/70tg4otslJ
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