Although the contract extension took place two years ago, it has been in the spirit of BTS lately. At BANG BANG CON: THE LIVE, Jin mentioned it and expressed gratitude for its members and their agency. Take a look at some of the fan theories about what the future might hold for K-pop supergroup BTS. We struggled mentally at the beginning of this year. While we were talking, we even thought about dissolving. The company also announced that it would build a team around BTS that will provide «systematic support and investment» in the law and his career. «Our philosophy is to offer the best to artists who are experiencing unprecedented global success,» said Big Hit. The announcement of the seven-year contract extension was made by email to all Big Hit employees and shareholders. «Thank you for celebrating our 7th anniversary,» he told fans. «We all shook hands and hugged each other. If we hadn`t re-signed our contracts.
We would not have been able to see each other. On June 16, Jimin also mentioned BTS` contract during his live stream on YouTube. If the members had not agreed to renew their contracts, BTS would have ended on June 13, 2020 and the seven would have separated. Aside from their recent success with Dynamite, which led the Billboard Hot 100, as well as the victory at the MTV VMAs, the commercial side of things for BTS also looks even better than before. Six years is a long time, so it is possible that members may or may not renew their contracts to focus on a more peaceful life. BTS still had over a year on its initial contract at the time. However, a renewal would have been carried out as it was considered a strategic decision as BTS was a valuable asset for the company. Based on this comment, it looks like Big Hit Entertainment`s contracts will last five years before they expire. Therefore, their contract will not be renewed until 2023, and since the relationship between BTS and Big Hit seems strong, it can be assumed that they could renew the contract until 2028. This is our 7th anniversary. If things had gone the way they were originally supposed to, yesterday would have been the end of our contracts, but I am very grateful to have met the members as well as a good company. I am relieved that we can be together much, much longer.
In October 2018, BTS extended its exclusive deal with Big Hit Entertainment and achieved great things in 2019 and 2020. The new deal means the band, which is signed to HYBE`s own label, BigHit Music in Korea, will drop its contract with Sony Music`s Columbia Records and distributor The Orchard. The seven members of BtS – RM, Jimin, Jin, Suga, J-Hope, Jungkook and V – have extended their contracts with Big Hit for another seven years and extended the current contracts, which are due to expire next year. He will bring the band`s time with the label until 2026, 13 years after the release of their debut album, 2 Cool 4 Skool, in 2013. «Originally, our contracts were due to end yesterday. But because we have found a good agency, we will fortunately be able to stay with our colleagues much longer. I`m getting very emotional,» Jin said. In an official statement, the MBW today (22. A HYBE spokesman said the deal was part of an «ongoing effort to expand the strategic partnership» with Universal Music Group announced in February. BTS is currently in Europe as part of their love yourself world tour and recently made history with a sold-out show at Citi Field in October. 6, the first Korean band to host a stadium-sized solo concert in the country. This year, the band has led the Billboard 200 twice, first with May`s Love Yourself: Tear, and then again with August`s Love Yourself: Answer.
In June 2020 – around the time BTS` initial contracts would have expired – Jimin discussed this issue during a live broadcast. «On June 7, 13 with 7 people,» said the tweet, which was originally written in Korean. Thank you for always being here, Ami [emoji: purple heart] #0613FM_0613. Based on the terms of its original contracts, BTS should have been dissolved in June 2020. However, the band extended their contracts in 2018 to stay with Big Hit until 2026. BTS debuted in June 2013 and had seven-year contracts. This is the norm in the K-pop industry, although some artists also have five-year contracts instead of seven. According to Variety, BTS` deal with the orchard was based on «a monthly contract,» with the new UMG deal set to take effect on Dec. 1. He also said that after the stock rise, the company believes the partnership with BTS as an artist and creator would become stronger. BTS` latest single is Max Martin`s «My Universe», a collaboration with Coldplay (Parlophone/Atlantic), which reached number 1 in the US earlier this month. In a statement sent to MBW today, a HYBE spokesperson said, «We have decided to sign a new contract with Universal Music Group/Interscope regarding sales and marketing in the U.S.
and other regions.» It is our ongoing effort to expand the strategic partnership with them that was announced last February. The email revealed that Big Hit had had several discussions with the seven members of BTS. Therefore, they agreed to renew the contract to maintain a stable and long-term career, Soompi reported. Big Hit reportedly extended BTS` contract in 2018. This announcement was made through an email notification. BTS broke the curse of seven-year-old K-pop after its debut in 2013, albeit with extreme difficulties. In 2018, the Group extended its contract by seven years. With this extension, BTS` contract will continue until 2027, which is a path of uncertainty. BTS is currently touring Europe. Their next shows are scheduled for this weekend on October 19 and 20 in Paris.
Earlier this week, the seven stepped forward and met with South Korean President Moon Jae-in in the same city. «From three days, we wouldn`t have been able to see each other if we hadn`t all renewed our contracts,» Jimin said. He said BTS hugged each other on the occasion of their 7th birthday and thanked each other while talking about their near-dissolution. Two of the band`s biggest hits, the English-language singles Dynamite and Butter, went through Columbia in the US, the latter breaking the all-time record for first-day streams on Spotify on Friday, May 21 this year, amassing 20.9 million worldwide readings in the first 24 hours on the platform. Jin said yesterday (14. June) at BTS` online concert «Bang Bang Con: The Live» that their contract is expected to end a day before the concert. The BTS member also confirmed that they would stay with Big Hit when he said they had found a good agency. But with Jin`s imminent recruitment and the (mostly unspeakable) fear that the group will disintegrate, questions continue to arise about the group`s potential future. On June 13, BTS celebrated its 7th anniversary with a record-breaking virtual concert that would never have happened if things had gone differently. Surviving the first seven-year curse is a great chance, but the fanfare usually goes down afterwards. Although this may not be the case with BTS, whose fandom reaches a new high every other day. «As someone who worries a lot by default, I`ve certainly thought about Bangtan`s workload.
Overall, I think it`s okay to trust BigHit and/or BTS itself; BigHit seems to be trying to compensate for the constant exposure with small pauses, and if one of the members expressed discomfort/exhaustion, I`m sure the fandom would immediately protect and defend him. With the first renewal, the band has achieved achievements that no one could have imagined – collaborations with the greatest Western artists and nominations for the Coveted but infamous Grammys. Fans have speculated that BTS` renewed contract also takes into account their convocation period. In December 2019, the South Korean parliament passed a law raising the age limit for K-pop artists to 30. The news comes in the middle of a historic year in which BTS is quickly recognized worldwide for its influence as one of the most important musical acts of this generation. In addition to speaking at the United Nations and covering the global edition of Time Magazine as «Next Generation Leaders,» the band has broken several records and sold-out shows around the world while spreading a message of self-love and self-realization. Passionate fans of K-pop superstars, BTS, remember the band`s humble beginnings when they first signed with the K-pop big hit Entertainment leadership team in 2010. THE ARMYs were able to see the group become the giants they are today, as one of the most popular bands in the world, and although their fame can be attributed mainly to their talent, the recognition is also due to their impeccable management. BTS`s Jin clarified that the extension of the group`s contract with Big Hit Entertainment two years ago had not taken place.
Nevertheless, he said that the famous Korean boy band would continue to work with Big Hit as they would sign a new contract under the aforementioned entertainment company. He then thanked the fans once again for staying with BTS and always cheering them on. And although rumors of mismanagement have plagued the band for several years, it appears that BTS has extended its contract with Big Hit Entertainment until 2020. Stay tuned for everything we know about the group`s latest decision. «While we greatly appreciate the time we have spent with Sony (Columbia/Orchard) and will be eternally grateful for all they have done and will continue to do, we look forward to our next chapter in partnership with Universal.» Before renewing their contracts, BTS was thinking about terminating. .