Hello, this is TS ENTERTAINMENT. We would like to give our own official version on the current situation regarding rapper SLEEPY and the statements he has recently made on our company.
Firstly, SLEEPY has claimed that he had been receiving 50% of the benefits only when those were made through collaborations with brands for advertisements.
The truth is, SLEEPY systematically received 50% of the profits regardless of whether they would come from advertisements, concerts or any other kind of events.
Last April, SLEEPY had sent a complaint letter to our company to which he had attached the very first contract we had signed together. On this contract, it is clearly written that SLEEPY should receive half of the benefits made through events and concerts. Back in 2008, we decided to renew this contract despite that SLEEPY was only a rookie at the time (and that benefits were rather insignificant).
Therefore, we would like to deny the statement made by SLEEPY that is to say that apart from the profits generated by advertisements, any others were distributed in accordance with the 9:1 model, which means 90% of the benefits goes to the company and only 10% goes to the artist.
Back to 2007, SLEEPY was a trainee in another agency and he was getting ready to debut as part of the duo UNTOUCHABLE with rapper D.Action. When we started our business, we decided to incorporate the duo into our company; therefore we paid for the termination fee of the contract they had previously signed with their former agency and we signed our very first contract together.
In November 2015, SLEEPY‘s popularity increased considerably as he appeared on a successful Korean TV show. The next year, he accepted to renew his contract with our company as we made some modifications to it (implying that the rapper had imposed his own conditions now that he was getting more popular).
At a certain point, the company is no longer entitled to make decisions by itself. We have to take the artist’s opinion into consideration when it comes to the distribution of the profits. Therefore, there is no reason for SLEEPY to protest (on the way the profits were distributed).
Also, we wanted to add that some spendings made by the company to maintain the good image of SLEEPY are not part of the contract, and yet they were made and profitable to him. More information about the subject will be given soon.
For the past ten years, SLEEPY has always received a detailed overview of his incomes and he had the right to keep a picture of it if he ever needed so. By the way, he was also made aware of any changes that could be made on his incomes and would always know the reasons for these changes.
Lastly, the complaint letter SLEEPY had addressed to our company back in April did not mention anything about the alleged bad distribution of the profits, and the charges he had made against us had been dismissed by the court.
Thank you for your interest in our company and thank you for the love and support you give to our artists.
Journalist: Plum
Translator: Plum
Source: TS Entertainment
