- YG Plus shares climbed as much as 29.8% on Tuesday
- The track, titled APT, reached the top of Spotify's Top 50 Global playlist and came in fourth on iTunes' Top 100: Global chart.
Shares of South Korean media company YG Plus soared to a seven-month high after the release of a collaboration track between Blackpink member Rosé and Bruno Mars on Oct. 18 topped streaming charts.
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YG Plus shares climbed almost 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 came in fourth on iTunes' Top 100: Global chart.
The track is a reference to a South Korean drinking game called aparteu, or apartment in English.
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The official music video on YouTube has garnered 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 Kosdaq-listed YG Entertainment.
Money Report
She left YG Entertainment at the end of 2023, and signed with The Black Label, a YG subsidiary, as well as U.S. record label Atlantic Records for her solo career.
Records from The Black Label are distributed by YG Plus, also a YG Entertainment subsidiary.
YG Entertainment shares climbed as much as 3.53% on Tuesday.
Despite the boost, the parent company's stocks have dropped 22.5% year-to-date, dragged by uncertain conditions facing the global music industry.
South Korean pop stars are smashing records, performing at premier music festivals in the West and topping charts — but that stratospheric success has not been mirrored in the long term stock performance of their management agencies.
