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BLACKPINK, TWICE, ATEEZ vs. Bieber; K-Pop's Big 4 Legal Matters & Stock Thoughts; New BLACKPINK Reps

This newsletter touches on 'Kpop Demon Hunters,' BTS, Diplo, Tomorrow X Together, JVKE, EVNNE, Daddy Yankee, Wonho, Post Malone, SEVENTEEN, Goldman Sachs, Morgan Stanley, and more, but first...

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COVER STORY

New Music Friday: BLACKPINK Single; TWICE and ATEEZ Albums

A major release day for K-pop crossover acts, but will a surprise Justin Bieber album mess with the moment?

BLACKPINK (Credit: Full Coverage Communications)

BLACKPINK, “JUMP” (New Single)

After months of speculation and silence, BLACKPINK made their long-awaited comeback with the new single “JUMP.” Originally revealed live at the group’s Deadline World Tour kickoff in Seoul almost a week before its official release, “JUMP” has BLACKPINK’s signature mix of ferocious femininity — this time incorporating a hardstyle breakdown beat that elevates and modernizes the song as a standout in their discography.

"JUMP" was co-produced by Diplo (who Jennie enlisted for her solo single "Like Jennie" that became a chart and radio hit), alongside 24 (who worked with BLACKPINK early into their career and has credits on some of their biggest tracks like “How You Like That” and “Pink Venom,” and is also riding high with several tracks on the KPop Demon Hunters soundtrack), along with Diplo collaborators in producer Boaz van de Beatz (Nicki Minaj, David Guetta, Major Lazer) and remixer-producer Ape Drums, as well as Argentina’s Zecca (the Latin Grammy-winning producer whose done tracks with Tini, Tiago PZK, Anitta, Quevedo, Nathy Peluso and more). BLACKPINK’s longtime producer Teddy is listed as a songwriter and composer.

The Dave Myers–directed video is satisfying enough, but no choreography from the girls, which is somewhat unique for a BP up-tempo MV. It reminds me a bit of “Spice Up Your Life” by the Spice Girls with the slightly apocalyptic, celebrity-obsessed masses hardstyle head banging to their beat.

“JUMP” reportedly broke this year’s record for biggest music video debut on YouTube in 2025 with 18.6 million views within just 11 hours after its release. We’ll wait for YouTube’s official numbers but all signs point to big streaming numbers so far.

TWICE, THIS IS FOR (New Album)
“THIS IS FOR” (New Single)

Ahead of TWICE’s 10th anniversary this year, the nine-member girl group delivered their fourth full-length album THIS IS FOR. With a stadium tour, one No. 1 album on the Billboard 200 and two Billboard Hot 100 entries so far, the group has had legitimate crossover success (slightly more quietly than other K-pop acts I’d argue) with new single “This Is For” marking the second consecutive English single after last year's “Strategy” featuring Megan Thee Stallion.

“THIS IS FOR” confirms TWICE’s global focus with a hype-up-your-girl power anthem and chanty chorus that fit nicely alongside current releases like Rosé and Bruno Mars’ “APT.,” Zara Larsson’s “Pretty Ugly” and KATSEYE’s “Gnarly.” The video is more traditional K-pop with matching outfits and tight choreography, but throws a curveball when the girls start “falling” and “making mistakes” to give a nice dose of relatability.

THIS IS FOR has an impressive range of international pop contributors on here. There’s -Tayla Parx (who wrote the album’s title track), British pop royalty in Little Mix star Perrie Edwards, singer-songwriter Kamille and producer-singer BØRNS (all part of the track “MARS”), U.K. producer MNEK and rapper Baby Tate (who both composed “Dat Ahh Dat Ooh”), hit producer and songwriter du jor Dem Jointz and Amy Allen (“BATITUDE” and “Let Love Go,” respectively), and more. TWICE’s A&R did their thing, for sure.

TWICE finally scored a No. 1 album on the Billboard 200 thanks to February 2024’s With YOU-th. Follow-up EP, Strategy from December, peaked at No. 4 in America (in large part due to a more competitive holiday season), with this full-length project and globally focused tracks pointing to TWICE hungry to top the chart once again.

If they’re looking for an, ahem, Strategy: Before THIS IS FOR dropped, TWICE made the unprecedented move of revealing a completely new solo song from each member that was only released via official lyric video. If I was running their campaign, I would suggest releasing a deluxe version of THIS IS FOR with those nine songs, alongside the already hefty original 14 tracks, and maybe some remixes for “THIS IS FOR” which could give a major boost to their streaming numbers.

TWICE is also being helped out with their participation on the KPop Demon Hunters soundtrack earning “Strategy” and their song “Takedown” sizable streams. With a good plan, TWICE could be the ones to pull off a major hat trick this week.

ATEEZ, Golden Hour : Part.3 'In Your Fantasy Edition (New Album)
“In Your Fantasy” (New Single)

Another contender for the week’s best-selling album is ATEEZ’s with the new deluxe version of last month’s Golden Hour : Part.3 with the “In Your Fantasy” edition not only including the new English single of the same name, but eight solo new tracks recorded by each of ATEEZ’s eight members.

Though not as strong as their Crossover Ready hit “Lemon Drop,” (which debuted at No. 69 on the Billboard Hot 100 for the group’s first-ever entry), “In Your Fantasy” is nice and catchy. ATEEZ made somewhat of a crossover attempt with the icy English track “Take Me Home” on 2021's ZERO : FEVER Part.2, which felt like an homage to The Weeknd. New single “In Your Fantasy” has some Weeknd vibes, but boasts far more of ATEEZ's identity with the intensely gritty production.

ATEEZ has two No. 1 albums on the Billboard 200 with 2023's The World EP.FIN: Will and 2024's Golden Hour : Part.2. The guys are also looking to score another Hot 100 hit by selling physical singles of “In Your Fantasy” for purchase alongside their distributor hello82. The group kicked off the U.S. leg of their In Your Fantasy world tour last night in Atlanta so their visibility in the States will be high, although they’ll likely be busy touring and resting instead of hitting the promo grind super hard. The Hot 100 may be more of a focus this time, but the large amount of tracks and ongoing tour could pull them ahead.

  • In other news: “All eight members of ATEEZ have renewed their contracts with KQ Entertainment for another seven years, the agency announced Thursday, July 10. In a press release, KQ said it was ‘pleased to continue this partnership based on the trust built over the past seven years’ and added that it plans to ‘fully support each member in showcasing their limitless potential and expanding onto even greater stages.’” (The Korea Times)

But the Biebs…

TWICE and ATEEZ will face major competition on the albums chart from Justin Bieber surprise dropping his 21-track SWAG album, which could do huge numbers on streaming and could get tracks added to it throughout the week if I remember correctly with him dropping multiple versions and new tracks when Justice dropped in 2021. They’ll also contend with Morgan Wallen’s continuously mega-selling, 37-track I’m the Problem album (which has seven weeks at No. 1 and sold over 100,000 last week) and increasing streams for the Kpop Demon Hunters soundtrack (which, ironically, includes two songs by TWICE).

BLACKPINK will also likely face an uphill battle on the Hot 100 if Bieber’s 21 songs all swarm the chart. To date, BP has peaked at No. 13 with Selena Gomez collab “Ice Cream.” I could see the hype for “JUMP” delivering them to new streaming heights, but they’d need to pull far ahead of any other new releases competing for attention.

It’s going to be a big chart battle and any K-pop wins should become playbooks for future successes.

IN THE NEWS

South Korea Refers HYBE Chairman Bang Si-Hyuk to Prosecutors Over IPO Allegations: “The Capital Market Investigation Deliberation Committee held a meeting on Monday, July 7, and concluded that Bang Si-Hyuk and several others should face criminal charges. The recommendation has been passed to the Financial Services Commission’s Securities and Futures Commission and is scheduled for review at its upcoming meeting on July 16.

“At the center of the case is a controversial series of private equity transactions made in 2019, just before HYBE began its IPO process. Bang is accused of falsely assuring early investors that the company had no plans to go public, persuading them to sell their shares to a private equity fund allegedly controlled by one of his associates. In reality, HYBE had already initiated the IPO process, including selecting a designated auditor —an early and mandatory step in a Korean public offering. Despite this, investors sold their shares based on Bang’s assurances. HYBE later debuted on the Korea Exchange in October 2020, with its IPO priced at 135,000 won per share (approximately $115 at the time). The stock price surged to as high as 420,000 won shortly after listing. Authorities allege that Bang ultimately gained about 400 billion won (approximately $291 million) through the undisclosed deal, reportedly receiving a 30% stake in the profits from the private fund.” (Billboard)

—Former NCT member Moon Taeil sentenced to 3.5 years for rape: “Prosecutors had sought a seven-year jail term. They said it appeared that the suspects had deliberately moved the victim to another location so it would be hard for her to recall details of the attack. Moon Taeil, a former member of NCT, a popular boy band, appeared in Seoul Central District Court on Thursday wearing a black T-shirt and slacks. His eyes were downcast as Judge Lee Hyun-kyung read aloud his sentence…all three defendants were taken into custody immediately after the sentencing. They also will need to complete 40 hours of a program for sexual violence.” (New York Times)

—TWICE’s release-day promo for THIS IS FOR was somewhat quieter than usual, but The Crossover friend Laura Sirikul had the group reflects on 10 years with their new album and era” at Forbes. While K-pop acts tend to never mention other Korean groups (lots of times it feels forbidden by their agencies), TWICE’s Tzuyu gave a shoutout to BTS: “There are so many K-pop artists who worked so hard so that K-pop can take the center stage. Many artists worked hard to contribute, and BTS played a big role in that.”

Laura also got some tea on the upcoming solo album from member Chaeyeon coming “at the end of 2025” directly from the source (“It’s going to be an album that captures my tastes, thoughts, attitude, and personality. It’s my first solo album, and I’ve been looking forward to it just as much as the fans have. I’m most excited to finally share it, and I’m really curious to see how people will react”) and reactions to their inclusion in KPop Demon Hunters (“We are very honored and proud of ourselves to be part of it. Our existence itself has a huge presence in the K-pop industry, and we are very grateful and proud [to be part of the film]” Jihyo said). Good read over at Forbes.

—I appeared on Arirang News’ The Kulture Wave to talk about how Teddy’s new chart-topping co-ed group ALLDAY PROJECT is leading a potential new wave of mixed-gender K-pop acts. We talk ALLDAY PROJECT, KARD as well as other global co-ed successes like S Club 7, RBD and A*Teens. Fun topic:

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LIVE NEWS

—K-Pop Stars Tomorrow X Together Set to Hit U.S. Stages With ‘Act : Tomorrow’ World Tour: Tomorrow X Together is bringing their fourth world tour to American shores, with the K-pop sensation announcing nine U.S. dates spanning seven cities for ‘Tomorrow X Together World Tour Act : Tomorrow.’ The tour will make stops in Los Angeles, Dallas, Rosemont, Atlanta, Washington D.C., and Newark, with multiple nights scheduled in both the Chicago suburb and New Jersey. A highlight of the tour will be the group’s return to Los Angeles’ BMO Stadium on Sept. 12, where they previously sold out consecutive nights in 2023.” (Variety)

—Boy Band EVNNE Adds U.S., European Concert Dates to ‘Set N Go’ World Tour: “The band will perform in 13 cities across the two regions, beginning with San Francisco on Oct. 1 and continuing in Los Angeles, Phoenix, Houston, Fort Worth, Atlanta, Chicago, Cincinnati, Philadelphia, Jersey City, Warsaw, London and, lastly, Paris on Oct. 30.” (Korea JooAng Daily)

—Wonho to Embark on European Tour Across 10 Cities in 8 Countries This September: Wonho will kick off his European tour on Sept. 7 in Paris, France, followed by Madrid, Spain on the 9th, London, UK on the 11th, Brussels, Belgium on the 15th, Tilburg, Netherlands on the 17th, Cologne, Germany on the 19th, Warsaw, Poland on the 21st, Berlin, Germany on the 23rd, Hamburg, Germany on the 25th, and wrap up in Helsinki, Finland on the 27th…before heading to Europe, Wonho will begin a South American tour starting on July 12 in Santiago, Chile, followed by stops in São Paulo, Brazil on the 15th, Monterrey, Mexico on the 18th, and Mexico City on the 20th.” (StarNews)

BUSINESS INSIGHTS

—BLACKPINK’s ‘JUMP’ Single Released Through New Distribution Partnership With The Orchard: “On Friday, K-pop girl group BLACKPINK released its latest single, “JUMP,” via longtime label YG Entertainment — but the distribution partner has changed. Since 2018, BLACKPINK’s distribution has been handled by Interscope Records, but the pre-save page for “JUMP” reveals that the group is now aligned with The Orchard. While The Orchard declined Billboard’s request for comment on the deal, a company spokesperson confirmed that The Orchard does have a new distribution partnership with the K-pop group.” (Billboard)

I also noticed that BLACKPINK is still listed on Interscope’s artist roster page, but their artist page has not been updated with anything regarding “JUMP” or releases beyond 2022's BORN PINK album. Notably, the three artists under THEBLACKLABEL (the agency founded by BLACKPINK producer Teddy that houses Rosé) that were signed with Interscope Records (BIGBANG’s Taeyang, Jeon Somi and Bryan Chase) are all not listed on the artist roster. Universal Music and TBL did not respond to my request for comment by press time.

—Distribution isn’t the only operational change for BLACKPINK either: The group is now being repped for PR by Full Coverage Communications. The publicity giant supported the release of “JUMP” with a midnight press release and has been pushing the group’s press looks on its Instagram.

Interestingly, it’s FullCov’s first new K-pop client in a moment as the company has been the longtime reps for BTS and eventually added their BIGHIT Music label mates Tomorrow X Together. While the members of BTS and BP have long proven their friendship, the ongoing wars between the two leading groups’ fan armies may be forced to finally find peace — or maybe they’ll just find more to complain about...

—Big congratulations are due to HYBE’s Head of Global Communications Rachel Um, who made a rare LinkedIn post to celebrate several of the company’s artists being invited to the Recording Academy’s Class of 2025. Um, who has been with HYBE since 2021 after stints at Samsung and Edelman PR, shares how this moment “stemmed from the very strategic initiatives championed by [her] team in Global Communications from day one.”

While some K-pop fans have called out that the only Korean artists invited to this year’s voting class were from HYBE, it’s clear that the company prioritized making these connections to make sure that they could include additional artists from their roster beyond BTS (who have been members since 2019). Expect other K-pop labels to take notes.

—BTS is back, BLACKPINK’s on tour. Here’s what it means for high-flying K-pop stocks: “South Korea’s ‘Big Four’ K-pop agencies [HYBE, SM, YG and JYP Entertainment] are all listed and most of them have seen massive gains in share prices this year as big names return and investors foresee a better year for the sector…prospects and outlook Goldman Sachs said in a note last month that investors should look for ‘Mega IPs’ in K-pop — groups that can attract an audience of over 1.5 million per tour. That level reflects that a band has been able to break past K-pop’s traditional target markets into the Western music scene, the firm said. Currently, only four groups meet this criterion. ‘The common denominator of the four K-pop Mega IPs is that they are also the only K-pop bands capable of a full stadium tour in the U.S,’ Goldman said, adding that other, newer groups have not seen such success.” (CNBC)

Here’s how Goldman Sachs and Morgan Stanley feel about each company:

  1. HYBE: “Goldman's ‘top pick’ as its boy groups ENHYPEN and SEVENTEEN are on the verge of commencing full stadium tours in the U.S. and becoming Mega IPs.”

  2. SM Entertainment: “While Morgan Stanley said the company was its top pick due to its well-diversified portfolio of artists, Goldman pointed out that SM lacked a track record of producing Mega IPs, with none of its groups having reached that status.”

  3. YG Entertainment: “Both firms are pessimistic on YG, despite the fact that the agency is home to the popular Blackpink. ‘We believe expectations for BLACKPINK has been over reflected in share price. High reliance on single IP and shallow slate of performers remain a concern,’ Morgan Stanley said. YG currently has just three active groups: Blackpink, boy group TREASURE, which debuted in 2022, and rookie girl group BABYMONSTER, which entered the industry in 2024.” (The company also has WINNER and AKMU, although neither are going to be stadium fillers in the U.S. at the moment so maybe it’s a moot point)

  4. JYP Entertainment: “While JYP has two of the four so-called Mega IPs, Goldman notes that it sees short-term earnings turbulence, due to its reliance on just a few mature artists and contract renewal of Stray Kids, which will limit margin expansion in the short term. When artists renew their contracts, they typically take a higher share of the revenue split, according to Jiwoo Oh, a research analyst at investment firm CGS International Securities Korea. K-pop artists sign an initial standard seven-year contract with their agencies, which means that Stray Kids, having debuted in 2018, should be reaching the end of their contracts this year. Morgan Stanley, in a June 26 note, said that ‘the absence of new performers in JYP continues to be a weak point. We believe the stock needs to see more artists contributing to top line growth, and new teams emerge to support longer-term growth.’”

According to the CNBC article, there are only four Mega IPs of artists who can hold stadium tours in the U.S., which must be BTS, TWICE, BLACKPINK and Stray Kids.

But ATEEZ, from the unlisted KQ Entertainment, really shouldn’t counted out: the group has five stadium dates on the U.S. leg of their In Your Fantasy World Tour alongside arena shows.

  • Somewhat related news: I didn’t expect to hear Daddy Yankee’s comeback single would be released through HYBE Latin America: “Yankee’s return is the first major artist partnership deal under HYBE Latin America, which has been rapidly expanding. On July 9, HYBE Latin America unveiled their new Latin-focused competition series ‘Santos Bravos,’ which aims to create an all-male band through intensive training.” (Variety)

BITS AND BOPS

—”Golden” singer JVKE released a new single “butterflies” featuring Taehyun of Tomorrow X Together and Kim Chaewon of LE SSERAFIM

SEVENTEEN’s youngest member Dino recorded “Til My Fingers Bleed,” as the anthem for the 2025 Esports World Cup with rapper Duckwrth and Telle of metalcore band The Word Alive. The trio performed the song at the anb Arena in Riyadh, Saudi Arabia for the EWC2025 opening ceremony.

—Dino met his music collaborators, as well the additional EWC2025 opening ceremony performers Post Malone. Dino, Posty & Co. were also joined by Alesso and violinist Tina Guo for the event that is “the world's largest esports competition, attracting over 2.6 million visitors and more than 500 million online viewers last year.” (SBS Star)

More than 40 different Korean stars have done covers or #challenges of songs from KPop Demon Hunters including Saja Boys actual vocalist Kevin Woo, as well as members of Monsta X, Wonho, TWICE, ITZY, ENHYPEN, IVE, NMIXX, PLAVE, ZEROBASEONE and more.

—Tomorrow X Together bundled zucchinis with concert tickets as part of a new show meant to highlight local Korean culture: “Titled Idol Festa Operation: Nationwide Sparkle Tour, the show features top K-pop groups hosting guerrilla concerts while promoting local produce in a “1+1 deal” format — combining music and community support. Fans could buy zucchini + TXT concert tickets for just 990 Korean won (approximately $0.70)”

—Some fun features I did at Forbes recently about song recommendations based on the KPop Demon Hunter hits “Golden” and “Your Idol”:

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