FIFTY FIFTY has been creating quite a buzz on the global music charts with their hit song “Cupid,” and both fans and industry professionals are closely monitoring the group’s sales performance.
Since its release in February, “Cupid” has been steadily climbing the ranks on both the US Billboard chart and the UK Official chart. This achievement is particularly noteworthy for a K-pop girl group, as the song spent an impressive 12 weeks on the Billboard Hot 100 chart and 11 weeks on the Official Singles Chart Top 100.
Streaming numbers also reflect the song’s popularity, with “Cupid” surpassing 330 million streams on Spotify within just 100 days of its release. However, the international music revenue for “Cupid” has not been settled yet. While the industry typically settles domestic music payments on a quarterly basis, it takes around 4 to 6 months to process earnings from overseas music platforms.
Considering the song’s rise in fame starting from March, industry insiders anticipate that the group will receive payments in the coming month. Industry insiders anticipate that FIFTY FIFTY will earn a substantial amount in music revenues.
Last year, earnings from overseas for Korean music amounted to 22 billion won ($18 million), and with FIFTY FIFTY’s success this year, industry projections indicate that it will surpass last year’s figure by a significant margin.
Once the group receives payments for “Cupid”, it will pave the way for FIFTY FIFTY to concentrate on preparing their next album. Beyond royalty settlements, there is also growing anticipation for investment in the group’s future.
Investment firms have shown keen interest in FIFTY FIFTY, with their agency Attract securing a 1 billion won ($851,000) seed investment in March and raising an additional 200 million won ($170,000) through share issuance in April. Notably, they recently attracted investments of 1 billion won ($851,000) each from Yes24 and Hansae Co., Ltd.
Attract CEO Jeon Hong Joon has been actively exploring global opportunities. In a recent phone interview with Sports Chosun, he shared, “I have recently met with various label companies and concert planners in the United States, engaging in detailed discussions about FIFTY FIFTY’s future expansion into the UK and the US.”