JTBC Reports BTS Is Considering A Potential Lawsuit Against Big Hit Over Profit Sharing, Big Hit Denies
In shocking news, it has been reported by JTBC that BTS is considering filing a lawsuit against their own agency, Big Hit Entertainment over the idea of profit sharing between the group and the company.
According to the exclusive report by JTBC, a law firm received a new case for review just last week. The case featured BTS going against their own agency, Big Hit Entertainment. After verifying the report, JTBC stated that the case filed was due to a profit sharing issue with Big Hit.
BTS has exploded into global popularity, with their global sales reaching ₩200 billion KRW ($167,933,162 USD) in 2018. The group renewed their 7-year contracts in October 2018, and it is estimated that the group will be valued more than ₩1 trillion KRW ($839,665,810 USD) in the future.
At the time of the contract re-signing, Big Hit Entertainment said they would form a 100 member team to take care of BTS’s activities, needs, and other things. However, according to a source close to BTS, there was conflict between BTS and Big Hit Entertainment about the profit sharing between the group and the company, even before they decided to re-sign their contracts.
In the end, the two sides failed to reconcile their differences in opinion for profit sharing, and the case has gone to legal review.
In response, Big Hit Entertainment released a short statement, denying such a case happening.
We have nothing to say except that the reports are not true.
— Big Hit Entertainment