


Thai GL Hub just dropped the most detailed English-language financial investigation of Idol Factory ever published.
Thai GL Hub just published a full financial investigation of Idol Factory They purchased the certified financial statements from Thailand's Department of Business Development and went through the books line by line, 2020 to 2024. The short version: 305.6 million baht in total revenue across five years. Technically insolvent since 2021 — before GAP even started filming. By 2024, cost of sales was consuming 97.3% of revenue. The auditor flagged the company might not survive. Then 17 artists and the co-founder departed in five waves. Saint's resignation letter, Honeycomb 9999999, Kachen's 37 million in personal loans, the fan meet revenue nobody can account for — it's all in there. Here is the article