Published: December 05, 2024, 7:47 p.m.
Boy band The Boyz (NEWS1)
The Boyz’s new agency, One Hundred Label, has refuted a claim by the boy band’s former company, IST Entertainment, that it offered to give the group’s members trademark rights to use the boyz’s name. group for free.
“Two of the three conditions stipulated in the document sent to us by IST Entertainment on Wednesday were disadvantageous for the artists,” One Hundred Label said in its Thursday press release.
“This contradicts IST Entertainment’s claim that it provided free usage rights (to members).”
On Wednesday, local media outlet Ten Asia reported that One Hundred Label said the former agency had demanded “billions of won” for The Boyz’s brand and copyright. In response, IST Entertainment said in a press release that the news was false and that it was granting members the usage rights for free.
On Thursday, One Hundred Label said that in a document sent by IST Entertainment, the members had only obtained usage rights, not trademark rights, to the name The Boyz. This effectively meant that IST Entertainment would retain The Boyz brand and associated profits.
Boy group The Boyz (MNET)
“We reiterate that the trademark rights to the name were not offered for free,” One Hundred Label said.
Since IST Entertainment told the press that it was granting members usage rights for free in its statement, One Hundred Label interpreted it “as permission to use the name without further negotiation.”
“We apologize to The B (Boyz fandom) for causing any concern.”
The Boyz debuted in 2017 with their debut EP, “The First.” The 11-member group consists of: Sangyeon, Jacob, Younghoon, Hyunjae, Juyeon, Kevin, New, Q, Ju Haknyeon, Sunwoo and Eric. The group gained popularity after winning Mnet’s music competition “Road to Kingdom” (2020), and has since released hits like “Thrill Ride” (2021), “Whisper” (2022), and “Watch It” (2020). 2023).
The members’ exclusive contracts with IST Entertainment ended on Thursday and they are expected to join One Hundred Label later this month.
BY YOON SEUNG-JIN ((email protected))