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All BTS Members Renew Contracts with HYBE

People look at medals unveiled to mark the 10th anniversary of global K-pop sensation South Korean boy band BTS, also known as the Bangtan Boys, at a department store in Seongnam, south of Seoul, South Korea, 01 September 2023. (EPA)
People look at medals unveiled to mark the 10th anniversary of global K-pop sensation South Korean boy band BTS, also known as the Bangtan Boys, at a department store in Seongnam, south of Seoul, South Korea, 01 September 2023. (EPA)
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All BTS Members Renew Contracts with HYBE

People look at medals unveiled to mark the 10th anniversary of global K-pop sensation South Korean boy band BTS, also known as the Bangtan Boys, at a department store in Seongnam, south of Seoul, South Korea, 01 September 2023. (EPA)
People look at medals unveiled to mark the 10th anniversary of global K-pop sensation South Korean boy band BTS, also known as the Bangtan Boys, at a department store in Seongnam, south of Seoul, South Korea, 01 September 2023. (EPA)

All seven members of K-pop sensation BTS have renewed their contracts with agency HYBE, the company said Wednesday, with the group currently on "hiatus" as some of them perform South Korea's mandatory military service.

Since their debut in 2013, BTS have been credited with generating billions of dollars for their country, as well as boosting the image and soft power of South Korea -- now a global cultural powerhouse.

The K-pop juggernaut announced a "hiatus" from group activities last year and two members are currently undertaking their some 18 months of military duty.

Local reports have said the band could reunite around 2025, when all of its seven members will have completed their service in the army.

"Our company has completed the Board of Directors' resolution to renew the exclusive contracts of seven BTS members," the band's agency, HYBE, said in a regulatory filing on Wednesday.

"This fact was judged to be a management matter that could affect the company's financial status and investor decision-making, and was therefore disclosed," it added.

Since their debut 10 years ago, the band had previously renewed their contracts with HYBE in 2018, which would have expired in 2024.

The company did not disclose details of how long the new contracts were or when they would expire, but the latest announcement indicates that all seven members of the group will likely remain with the label even after they have completed their military service.

Some male K-pop stars have faced challenges in resuming their careers after fulfilling their duties, in an intensely competitive industry where artists can be easily replaced.

In March, Bang Si-hyuk, chairman of HYBE and the mastermind behind BTS, said making BTS do their military service was slowing the global growth of K-pop.

All able-bodied men in South Korea must serve at least 18 months in the military and, after a years-long debate about whether BTS deserved an exemption, Jin, the oldest member of the group, enlisted last year.

His bandmate J-Hope started his mandatory service in April.

A third member, SUGA, will begin his service on Friday.

HYBE shares closed down 0.82 percent in Seoul Wednesday.

K-pop contract renewals can be complex, with shares of BLACKPINK's agency YG Entertainment tumbling last week, after local media reports claimed member Lisa had rejected a renewal offer.

They subsequently bounced back, although the agency has yet to announce details of new contracts for BLACKPINK -- one of K-pop's most successful girl groups.

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‘How to Train Your Dragon’ Tops the US Box Office

This image released by Universal Pictures shows Mason Thames, as Hiccup, riding Night Fury dragon, Toothless in a scene from "How to Train Your Dragon", (Universal Pictures via AP)
This image released by Universal Pictures shows Mason Thames, as Hiccup, riding Night Fury dragon, Toothless in a scene from "How to Train Your Dragon", (Universal Pictures via AP)
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‘How to Train Your Dragon’ Tops the US Box Office

This image released by Universal Pictures shows Mason Thames, as Hiccup, riding Night Fury dragon, Toothless in a scene from "How to Train Your Dragon", (Universal Pictures via AP)
This image released by Universal Pictures shows Mason Thames, as Hiccup, riding Night Fury dragon, Toothless in a scene from "How to Train Your Dragon", (Universal Pictures via AP)

Neither Pixar nor zombies were enough to topple “How to Train Your Dragon" from the No. 1 slot at North American box offices over the weekend. The Universal Pictures live-action remake remained the top film, bringing in $37 million in ticket sales in its second weekend, despite the sizeable new releases of “Elio” and “28 Years Later” , according to studio estimates Sunday. “How To Train Your Dragon” has rapidly amassed $358.2 million worldwide, The Associated Press reported.

Six years after its last entry, the Dean DeBlois-directed “How To Train Your Dragon” has proven a potent revival of the DreamWorks Animation franchise. A sequel is already in the works for the $150 million production, which remakes the 2010 animated tale about a Viking boy and his dragon.

Pixar's “Elio” had a particularly tough weekend. The Walt Disney Co. animation studio has often launched some of its biggest titles in June, including “Cars,” “WALL-E” and “Toy Story 4.” But “Elio,” a science fiction adventure about a boy who dreams of meeting aliens, notched a modest $21 million, the lowest opening ever for Pixar.

“This is a weak opening for a new Pixar movie,” said David A. Gross, who runs the movie consulting firm FranchiseRe. “These would be solid numbers for another original animation film, but this is Pixar, and by Pixar’s remarkable standard, the opening is well below average.”

“Elio,” originally set for release in early 2024, had a bumpy road to the screen. Adrian Molina — co-director of “Coco” — was replaced mid-production by Domee Shi (“Turning Red”) and Madeline Sharafian. Back at Disney’s D23 conference in 2022, America Ferrera appeared to announce her role as Elio’s mother, but the character doesn’t even exist in the revamped film.

Disney and Pixar spent at least $150 million making “Elio,” which didn’t fare any better internationally than it did in North America, bringing in just $14 million from 43 territories. Pixar stumbled coming out of the pandemic before stabilizing performance with 2023’s “Elemental” ($496.4 million worldwide) and 2024’s “Inside Out 2” ($1.7 billion), which was the company's biggest box office hit.

“Elemental” was Pixar's previously lowest earning film, launching with $29.6 million. It rallied in later weeks to collect nearly half a billion dollars at the box office. The company's first movie, “Toy Story,” opened with $29.1 million in 1995, or $60 when adjusted for inflation. It remains to be seen whether “Elio's” decent reviews and “A” from CinemaScore audiences can lead it to repeat “Elemental's” trajectory.

With most schools on summer break, the competition for family audiences was stiff. Disney’s own “Lilo & Stitch,” another live-action remake, continued to pull in young moviegoers. It grossed $9.7 million in its fifth weekend, bringing its global tally to $910.3 million.

“28 Years Later” signaled the return of another, far gorier franchise. Director Danny Boyle reunited with screenwriter Alex Garland to resume their pandemic apocalypse thriller 25 years after “28 Days Later” and 18 years after its sequel, “28 Weeks Later.”

The Sony Pictures release opened with $30 million. That was good enough to give Boyle, the filmmaker of “Slumdog Millionaire” and “Trainspotting,” the biggest opening weekend of his career. The film, which cost $60 million to make, jumps ahead nearly three decades from the outbreak of the so-called rage virus for a coming-of-age story about a 12-year-old (Alfie Williams) venturing out of his family’s protected village. Aaron Taylor-Johnson, Jodie Comer and Ralph Fiennes co-star.

Reviews have been good (90% fresh on Rotten Tomatoes) for “28 Years Later,” though audience reaction (a “B” CinemaScore) is mixed. Boyle has more plans for the zombie franchise, which will next see the release of “28 Years Later: The Bone Temple” next year from director Nia DaCosta.

“28 Years Later” added another $30 million in 59 overseas markets.

After its strong start last weekend with $12 million, A24’s “Materialists” held well with $5.8 million in its second weekend. The romantic drama by writer-director Celine Song and starring Dakota Johnson, Pedro Pascal and Chris Evans has collected $24 million so far.

Next weekend should also be a competitive one in movie theaters, with both “F1,” from Apple and Warner Bros., and Universal’s “Megan 2.0” launching in cinemas.