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ZENO

Avex Trax to sell its headquarters + drop acts: UPDATE

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ZENO

aramajapan.com-og.jpg

 

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The COVID-19 pandemic continues to affect the world, and the Japanese entertainment industry is no different. While live events have resumed to an extent, things aren’t back to normal. Earlier in the pandemic, live events weren’t allowed for several months. As a reaction to the decrease in revenue due to months of no live events, Avex has decided to cut some of their expenditures. This is currently coming in the form of voluntary retirements. 

Avex has asked about 100 employees to voluntarily retire, about 6% of its staff. The employees that it’s targeting with this offer are the 443 who are age 40 or older and working in the music department. 

The staff members who choose this option will do so December 10 – 21. They will receive a severance package from Avex, as well as support to help them find another job. 

Avex announced in September that due to the restrictions on live events earlier this year, it suffered a loss of ¥3,200,000,000. To compare, in the same period last year, it suffered a loss of ¥1,700,000,000.

Avex has not released its forecast for the rest of the fiscal year 2020, which ends in March 2021, due to uncertainty in light of the COVID-19 pandemic.

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Avex is looking to sell its Tokyo headquarters as a COVID-19 cost-saving measure. They would then rent back its offices.
Source:  ARAMA! JAPAN

As someone who's been listening to J-Pop since the 90s, this is a truly heartbreaking news. The industry has been suffering for a while but this... I hope they'll be able to recover in the future.  Avex is literally the backbone of Japanese music.

Edited by ZENO

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selenachris

Read Ava Max 

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yamiyuuuu

Oh wow, the home of Namie, Ayu and Koda. Avex seemed to be untouchable, this feels weird.

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Supervillain
45 minutes ago, selenachris said:

Read Ava Max 

Came here to say this

 

FTUAeR.gif

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MusicTalker
33 minutes ago, selenachris said:

Read Ava Max 

Same. :deadbanana2:

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ZENO
53 minutes ago, selenachris said:

Read Ava Max 

 

6 minutes ago, MusicTalker said:

Same. :deadbanana2:

 

7 minutes ago, Supervillain said:

Came here to say this

 

FTUAeR.gif

Well,  mini released this, under Avex in 2010, featuring a certain harcut:


Also Koda Kumi's Dejavu Tour:

91Jf2HGytIL._SL1500_.jpg

Edited by ZENO

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ZENO
34 minutes ago, yamiyuuuu said:

Oh wow, the home of Namie, Ayu and Koda. Avex seemed to be untouchable, this feels weird.

Right? It's just so crazy. And they don't have as many big acts as they used to... I wonder if this will mean that new agencies will rise...

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Blackthorn

Wow... That's sad to read. 

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Junho_lover
11 hours ago, ZENO said:

 

 

Well,  mini released this, under Avex in 2010, featuring a certain harcut:


Also Koda Kumi's Dejavu Tour:

91Jf2HGytIL._SL1500_.jpg

OMG I am shocked to see someone else who knows MINI!!! I used to love her ! I am sad she never released after the first LP.  :( And LOL that cut is similar to Ava's, I never thought about that.

 

On topic, dan...this Epidemic really screws with so much, :( 

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iconoclasm

Oh wow, I was under the impression they were swimming in money or something.

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ZENO
8 hours ago, Junho_lover said:

OMG I am shocked to see someone else who knows MINI!!! I used to love her ! I am sad she never released after the first LP.  :( And LOL that cut is similar to Ava's, I never thought about that.

 

On topic, dan...this Epidemic really screws with so much, :( 

I literally WORSHIP her album. I'll forever be sad that. she flopped so hard, she really has so much potential! I wonder what she's doing nowadays...

 

8 hours ago, iconoclasm said:

Oh wow, I was under the impression they were swimming in money or something.

There has been a huge decline in sales over the past decade actually, and I definitely knew that, but I was not expecting the situation to  be THIS bad

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Junho_lover
On 11/18/2020 at 7:25 PM, ZENO said:

I literally WORSHIP her album. I'll forever be sad that. she flopped so hard, she really has so much potential! I wonder what she's doing nowadays...

 

There has been a huge decline in sales over the past decade actually, and I definitely knew that, but I was not expecting the situation to  be THIS bad

Yeah omg, I worship that album also!!! Should have been bigger, such a shame..

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yassskween

lol remember when they 'signed' RINA 

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Mirrorcle

This is so sad. For some reason I always thought AKB48 was signed under Avex so it's impossible for them to collapse.  :toofunny2:

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ZENO

UPDATE:

Avex will DROP failing acs.

 

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Under the guidance of its bank, Avex is currently undergoing restructuring. Due to the pandemic, concert revenue fell dramatically, resulting in ¥3.2 billion loss during the April to September quarter of this year.

 

“This time is so bad. We are in such a crisis where it’s uncertain if we can make it out of this year. I pretended not to see it though,” said an Avex producer, shoulders slouched in defeat. 

 

He continued, speaking to something that a lot of observers of the Japanese music industry have noticed for years.

 

“While it is true LDH’s EXILE and Johnny & Associates’ Snow Man are under Avex, sales for other acts are low. In the past, Avex had popular acts such as Komuro Family, Namie Amuro, Ayumi Hamasaki, and Koda Kumi that could keep the company afloat, but the company failed to nurture its next generation. Avex’s business model became out of date in the age of the internet.”

 

The employees that Avex is looking to have retire are the same ones who were around during the company’s heyday. One in four of these employees may soon be out of a job.

 

Another Avex employee spoke about the current situation, saying that there is nowhere else to go in the music industry because other labels are in similar situations due to the pandemic. In the end, there are people in their 40s who will be forced to go into an entirely different industry.

 

The artist roster will be shrinking as well. According to an Avex employee in their 40s, “Eventually the contract will be canceled. It’s inevitable due to there being no hit songs. As far as models and actresses, only a few will be renewed.”

Source: ARAMA! Japan

 

This is literally the end of an era...
Kumi's latest album only sold 19K and as a fan I'm really worried for her.

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