HYBE, one of the powerhouse entertainment companies in the Korean music industry, will soon face crucial negotiations for the contract renewals of most of its major male idol groups.
Four of the company's male idol groups are up for contract renewal, namely BTS, Seventeen, Tomorrow X Together (TXT), and ENHYPEN.
BTS, HYBE's flagship group, renewed their contracts in 2023, but the terms remain undisclosed. Unlike previous renewals, the lack of public announcement about the contract duration has led to speculation that it might be a short-term extension, with the contract being up for renewal by 2026 or 2027.
If they renew their contract with the agency, it will be the third time they've extended their contracts with the company. BTS is expected to continue its group activities in the latter half of this year after all members complete their mandatory military service.
Seventeen previously signed an early renewal, but they are expected to negotiate their next contract decision next year. However, the group's negotiation could be pushed back or moved up due to the ongoing military enlistments. Jeonghan has already enlisted in September 2024. Hoshi, Wonwoo, and Woozi are likely to enlist this year, with younger members DK and Mingyu soon to follow.
TXT and ENHYPEN are two of HYBE's newer generation of artists. The groups will face their first contract renewal in 2026 and 2027, respectively. The male idol groups have contributed significantly to the company's bottom line, with TXT responsible for 12.4% and ENHYPEn for 16.4% of the agency's total album sales.
It is unclear whether all four groups plan to stay with HYBE. Financial analysts from IBK Investment & Securities remain optimistic about the company's future, predicting high growth until 2026. They cite the firm's well-balanced artist portfolio as a strength. The agency's ability to distribute sales across multiple artists has been noted as a strength, reducing its previous heavy reliance on BTS.
Despite the positive outlook, some fans express concerns about HYBE's treatment of its artists, particularly following controversies such as the poor editing of Seventeen's fan meeting photos. This has led to calls from some quarters for groups to leave the agency.
Originally published on Kpop Starz
