On November 6, Cube Entertainment announced the expiration of BTOB’s exclusive contracts through an official statement:
Hello. This is Cube Entertainment.
We are releasing an official statement regarding BTOB’s future activities.
Ahead of the expiration of BTOB’s second exclusive contracts, the agency carried out careful discussions with the members over a long period of time, and as a result, we decided not to renew by mutual agreement.
Thus, Cube Entertainment and BTOB’s Seo Eunkwang, Lee Minhyuk, Lee Changsub, Im Hyunsik, Peniel, and Yook Sungjae wrapped up our 11-year-long journey together.
After making their debut on March 21, 2012, BTOB became established as a boy group representing the third generation of K-pop through their outstanding singing abilities and music loved by the public.
We send our gratitude to BTOB, who showcased performances to be proud of for a long period of time as [artists] under Cube Entertainment, as well as MELODY (BTOB’s official fan club) who always became BTOB’s strength by their side.
Although Cube Entertainment and BTOB’s relationship will unfortunately end here, we will sincerely support the new growth and shining futures of the BTOB members who have unlimited potential.
Please send unchanging love for BTOB who will be starting another journey.
BTOB debuted under Cube Entertainment in 2012. In 2018, all the BTOB members renewed their exclusive contracts with Cube Entertainment.