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TMIKpop Profile picture
@tmikpop
Sep 20 • 7 tweets • 2 min read Twitter logo Read on Twitter
BTS renews its contract with BigHit Music. All seven members of BTS will renew their exclusive contracts with their agency BigHit Music, promising to stay together in 2025 and beyond. The renewals will be made at different times because Jin and Hope are currently fulfilling their
military duties. BigHit Music will donate 1B to Unicef (Korea per the Korean news) of 1B in the name of Army (per the Korean news). In a press release, Hybe said that with the renewal we will be able to see BTS as a whole, which we aim to see in 2025. koreajoongangdaily.joins.com/news/2023-09-2…
Another K article said that the new exclusive contract period begins in 2025 () which is consistent with previous reports in the IPO documents that the previous contract renewal signed in 2018 would terminate at the end of 2024. n.news.naver.com/entertain/arti…
Image
I'm going to anticipate some questions here. First, a board resolution for renewal of contracts is unusual and suggests that there is some significant payout (either cash or shares) that required board approval.
Second, individuals who are enlisted are not to engage in profit making activities which is why Jin and J Hope will not be able to re-sign until they are discharged. However, if they weren't committed to re-signing, BHM and Hybe would not be able to make the current statements.
As of the end of last year, BTS accounted for around 60% of Hybe revenue and thus to mislead investors on this issue would likely be considered a material misrepresentation of fact and would subject the corporation to FSS investigations and shareholder suits.
Source for the 60% figure: m.post.naver.com/viewer/postVie…

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More from @tmikpop

TMIKpop Profile picture
Sep 14
Music industry demands severe sanctions against malicious content creators like Sojang. A group of music industry organizations have put out a united statement calling for punishment of content creators who spread malicious rumors like the YouTube channel Sojang.
n 11 Sept, The Korea Management Federation, the Korea Entertainment Producers Association, The Record Labels Industry Association of Korea, The Korea Music Content Association jointly issued a statement saying that the malicious content creators produce and distribute
countless videos with inflammatory with no fact checking that mock and insult artists and use their anonymity to create malicious controversies and feed off the suffering of others to maximize profits.
Read 5 tweets
TMIKpop Profile picture
Aug 24
This article discusses the overseas expansion goals of the 4th Gen groups. Agencies are initiating collaborations in foreign countries and releasing albums in local languages has become a necessity. This is to increase the likelihood of success in overseas expansion
Some of the most successful K-pop acts in the U.S. mainstream music market have been because of luck...With the 4th Gen, major agencies are attempting to enter the global market with a systematic strategy instead of relying on luck.
Recently Kakao Entertainment and SM Entertainment announced the launch of an integrated North American company. This is because as the size of K-pop's overseas fanbase is larger than ever before, it is essential to solidify one’s own business base overseas.
Read 8 tweets
TMIKpop Profile picture
Aug 7
Chosun: NewJeans is confirmed to appear at the World BoyScout Jamboree Kpop concert while an official from the performance industry says that Seventeen may appear depending on the venue but BTS’ appearance is unknown due to members in the military

chosun.com/politics/2023/…
Context: The World BoyScout Jamboree is being hosted by South Korea this year but it’s been a national embarrassment because of how unprepared the organizers were. One of the events was a Kpop concert with acts like NMIXX, IVE, etc. m.koreatimes.co.kr/pages/article.…
The event was supposed to take place on the 6 Aug but was cancelled (organizers say because of heat) and some of the scheduled acts could not make the new date of 11 Aug because of other schedules.
Read 12 tweets
TMIKpop Profile picture
Aug 2
The Korea Fair Trade Commission (KFTC) has launched investigations into the alleged tie-in sale of idol photo cards by entertainment agencies. (tie-in sales are considered anticompetitive as it requires you to buy X product that you don't want to get Y product that you do)
The investigation is in response to customer complaints that too many photo cards were being produced to capitalize on the "fan heart" of idol fans. FTC conducted onsite investigations at SM (31), JYP (1) and YG (2). (Note: there's no mention of Hybe but perhaps that's tomorrow)
Recently, the popular idol group NCT released approx 50 types of photo cards which were made available randomly and required the purchase of an album to see the contents. This was criticized as excessive. An individual album costs around 15K to 40K.
Read 7 tweets
TMIKpop Profile picture
Jul 17
On 17 Jul, Western Branch of the Daeug District Court Criminal Division 9, sentenced a 28 year old male to three years probation and 240 community service and 40 hours of psychiatric/mental health education for violations of the
Act on Promotion of Information and Communications Network Utilization and Information Protection. From his home in Seo-gu, Daegu on 22 Feb 2022 at 4:36, Mr. A contacted a BigHit music producer and pretended to be a BTS member.
Deceived, the producer gave Mr. A info about the group’s activities as well as unreleased music files. After (receiving the files), Mr. A was accused of posting unreleased music files on Instagram 27 times and/or sent them to others via Kakao Talk until 20 May 2022 w
Read 8 tweets
TMIKpop Profile picture
Jul 14
Due to violations of the Korean Communications Commission regulations, Kakao will likely have to sell either SBS M&C or SM C&C shares within the next six months. SBS M&C is a media rep and provides integrated marketing services for SBS.
SM C&C, a company acquired by SM Ent in 2012, is engaged in advertising, content production, entertainment management, and travel. (Note: A 미디어렙 is a broadcast agency that sells advertising slots on behalf of broadcasters.
So the commercials or PPLs are sold by SBS M&C to other companies. SM C&C sells ads for other companies to broadcasters like SBS M&C. Basically it's a conflict of interest). According to Article 3, Paragraph 6, ad agencies cannot own stocks are shares in Media Rep companies.
Read 7 tweets

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