On Oct. 15, BEAST have decided to leave Cube Entertainment after seven years. Reports suggested the boy group have refused to resign after their contract ended with Cube Entertainment to create their own label.
Following reports of BEAST's departure from their agency, Cube Entertainment said they are still in talks whether the boy group will renew their contract with the label or put up their own agency together, Soompi reported.
Reports claimed BEAST allegedly received support from a Hong Kong entertainment company to suffice their plan of creating an independent label. However, no updates about the plan were reported after it was announced last month.
According to Allkpop, there are several factors that are keeping BEAST from establishing their own label. These factors include schedules, investment and BEAST's right to preserve their group name, as well as their songs.
With these factors, an insider said BEAST is not erasing the possibility of returning to their previous label. "The members have great hopes about creating their independent label but as the plan fell apart from the start, the possibility of the group returning to Cube became an option which can't be ignored in this situation," the source revealed.
The insider continued, "If BEAST do return, it's most likely that Cube will create a sub-label to support the group's independent promotions."
BEAST was formed by Cube Entertainment in 2009. Previously, the boy group debuted as a six-member band, however, Jang Hyung Seung departed from the band in April 2016 to pursue his solo career.
The boy group has released a total of three Korean and two Japanese studio albums.
Could it be that BEAST will end up returning to Cube Entertainment? Or will they be able to establish an independent label?
