Rosé of K-pop girl group BLACKPINK smiles during an event to promote their film “Born Pink” to mark the group's eighth anniversary on August 9, 2024 in Seoul.
Anthony Wallace | Afp | Getty Images
Shares of South Korean media company YG Plus rose to a seven-month high after the release of a collaborative track between Blackpink member Rosé and Bruno Mars topped the streaming charts on October 18.
Shares of YG Plus rose nearly 30% on Monday and as much as 29.8% on Tuesday after the track, titled APT, reached the top of Spotify's Top 50 Global Playlist and iTunes' Top 100: Global Charts took fourth place.
The title is a reference to a South Korean drinking game called “Aparteu,” which means apartment in English.
The official music video on YouTube has received over 82.9 million views, reportedly surpassing Taylor Swift and Post Malone's “Fortnight” as the biggest male-female duet debut of 2024.
Rosé debuted in 2016 as one of the four members of Blackpink under the Kosdaq-listed company YG Entertainment.
She left YG Entertainment at the end of 2023 and signed with The Black Label, a YG subsidiary, as well as the US record label Atlantic Records for her solo career.
Records from The Black Label are distributed by YG Plus, also a subsidiary of YG Entertainment.
Shares of YG Entertainment rose as much as 3.53% on Tuesday.
Despite the rebound, shares of the parent company have fallen 22.5% since the start of the year, reflecting uncertain conditions in the global music industry.
South Korean pop stars are breaking records, performing at leading music festivals in the West and topping the charts – but this overwhelming success is not reflected in the long-term stock performance of their management agencies.
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