K-pop: BTOB parts ways with Cube Entertainment, trademark talks underway
What's the story
K-pop sensation BTOB (Born to Beat) has officially parted ways with their agency, Cube Entertainment, following 11 years of collaboration.
In an official statement released by the agency on Monday, it was confirmed that the separation was a "mutual decision."
BTOB is currently negotiating with Cube Entertainment over trademark rights for their name.
The talks emphasize the need to protect BTOB's name and brand as they plan their future.
Context
Why does this story matter?
BTOB—originally a seven-member group—now comprises Seo Eun-kwang, Lee Min-hyuk, Lee Chang-sub, Im Hyun-sik, Peniel Shin, and Yook Sung-jae, following Jung Il-hoon's departure in 2020.
The group made their debut under Cube Entertainment in 2012 and has since maintained their unity.
In 2018, all members renewed their exclusive contracts with the agency.
However, the band's second contract renewal talks encountered challenges, leading to ultimately parting ways.
Statement
Cube requested portion of BTOB's revenue for trademark rights: Reports
Per reports, negotiations between BTOB and the agency broke down when Cube Entertainment asked for a share of the group's total revenue in exchange for the trademark rights to their name.
On this matter, the agency mentioned, "Regarding the group name BTOB, we are positively discussing with the members concerning trademark rights. Currently, we are unable to provide specific details and verify the source of the information mentioned in the articles."
Details
Cube's reaction to lucrative offers by other agencies for BTOB
Earlier this month, it was reported that BTOB was offered a group contract fee of 6B won (about $4.6M) by other agencies as they neared their second contract renewal with Cube.
The agency's spokesperson had then clarified, "The contract fee that has been repeatedly mentioned in the articles was not a matter that was discussed with us, and we also don't know the source of such information."
Group activities
'Beep Beep' to 'Wind and Wish': Revisiting BTOB's chart-topping journey
In 2014, BTOB reached a milestone in their career with the release of their fourth EP, Beep Beep.
In the same year, the boy band ventured into the Japanese market and signed a contract with the talent agency Kiss Entertainment for activities in Japan.
Fast forward to the present, BTOB delighted their fans with a highly-anticipated comeback this year, releasing their 12th EP titled Wind and Wish.