YG Entertainment, the company behind K-pop sensation Blackpink, has named Yang Min-seok as its new sole CEO, succeeding his brother Yang Hyun-sun. Yang Min-seok previously served as joint CEO alongside Hwang Bo-kyun. The announcement came after YG's annual shareholder meeting, which reported a 65% revenue increase to $430 million. Despite recent rumors, YG denied paying $30 million to retain Blackpink, as the group's members signed personal representation contracts with other agencies. YG is now focusing on launching BabyMonster, an all-female group considered by some as a successor to Blackpink. Formed through the reality TV show 'Last Evaluation 2023,' BabyMonster consists of members from Korea, Thailand, and Japan. The group recently debuted with a mini-album and single titled 'Sheesh,' receiving positive feedback. BabyMonster is set to embark on a fan meeting tour across five territories.
In other news, Tirso S. Cruz III, former chairman of the Film Development Council of the Philippines, has resigned after 19 months in the role. Cruz expressed gratitude to President Ferdinand 'Bongbong' Marcos Jr. for the opportunity and pledged continued support to the Philippine film industry. Meanwhile, the Bitchitra Collective: Indian Women in Documentary has announced its 2024 grants, pairing filmmakers with mentors to support their projects. Notably, the collective awarded the inaugural Sriyanka Ray Grant to Moupia Mukherjee for 'Murshida.' Additionally, six Indian heritage filmmakers will receive grants to advance their documentary projects.
The South Asian House at SXSW recently concluded its second edition, attracting record numbers of talent and attendees. The event also introduced the Tasveer Film Market, scheduled to take place in Seattle as part of the 19th Tasveer Film Festival. RASA Film Group, a U.S.-based collective focusing on empowering narratives, received its first investment and will participate in the Tasveer market. In the realm of film acquisitions, France's Canal+ acquired the Hindi-language short 'A Lullaby for Yellow Roses,' a co-production involving India, Kuwait, Pakistan, and Italy.
Lastly, Bhansali Music released a new track from the album 'Heeramandi: The Diamond Bazaar,' part of Sanjay Leela Bhansali's Netflix series. The song 'Tilasmi Bahein,' sung by Sharmistha Chatterjee and featuring Sonakshi Sinha, is a notable addition to the project.
