12:55 pm - 11/11/2012
Davichi ditches new label, returns to Core Contents Media to prepare for a blockbuster comeback
Davichi is set to release a blockbuster album in February after throwing away plans to move to a new label and deciding to sign on with their old label CCM again.
In October, reports emerged that the duo were in talks with another label to move their careers away from their old label, Core Contents Media (CCM). However, Davichi is set for a ‘blockbuster’ comeback after announcing that CCM’s president, Kim Gwang-Soo will push for a February comeback.
Davichi had initially intended to sign a new contract with their managers who left CCM to start-up a new company but declined upon reviewing the five year long contract. The duo consulted CCM President Kim Gwang-Soo for advice before deciding to remain with CCM.
The vocal group is known in the industry for being priced the best to perform at events. Davichi is able to perform up at least 10 events for the price of 100 million – 150 million won (~ $90,000 – $138,000 USD). Core Contents Media have commonly ranked first and second places on the singles chart with Davichi and T-ara able to make impressive CD sales.
The signing with CCM again has put their old managers’ new label in a difficult situation. The new label was lost almost $4.8 million in investments, including $3.7 million investment from a Japanese firm.