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The show documented the group's comeback while also sharing details of their lives through vlogs. On June 7, YG Entertainment released a prologue of Blackpink's newest reality show, 24/365 with Blackpink, ahead of its launch on YouTube. The label revealed that more than ten songs were recorded for the album.

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On May 18, the group's Korean label, YG Entertainment, shared an update on the project, which was originally teased for June. On May 4, 2020, it was reported that the group had finished recording their new album and were scheduling to shoot a music video later that month. According to the International Federation of the Phonographic Industry (IFPI), the album was the fifth best-selling album worldwide in pure sales in 2020. The Album has since been certified million by the Korea Music Content Association (KMCA) and silver by the British Phonographic Industry (BPI). Elsewhere, it reached number one in South Korea, New Zealand, and Mexico and opened in the top ten in 16 countries. It also debuted at number two on the US Billboard 200 with 110,000 units moved and became the highest-charting female Korean album and the highest-charting album by an all-female group since Danity Kane's Welcome to the Dollhouse (2008). The Album debuted at number one on the Gaon Album Chart and sold 1,092,550 copies in its first month, becoming the best-selling album by a female act in South Korea at the time and the first in the chart's history to surpass one million sales. The Album received generally favorable reviews from music critics, who commended Blackpink's vocal ability and stylistic variety however, a few critics found the album short and its production outdated. To promote the album, Blackpink appeared on several music programs in South Korea and talk shows in the United States, in addition to headlining a virtual pay-per-view concert, titled ' The Show' on January 31, 2021. All three singles also became top-ten hits in South Korea, with 'How You Like That' peaking at number one for three weeks, 'Ice Cream' at number eight, and 'Lovesick Girls' at number two on the Gaon Digital Chart. Lead single ' How You Like That' landed at number thirty-three 'Ice Cream' peaked at number thirteen to become Blackpink's highest-charting song in the United States ' Lovesick Girls' reached number fifty-nine on the chart. The Album was supported by three singles in total, two of which were pre-released and became top-forty hits on the US Billboard Hot 100. Musically, The Album utilizes pop, R&B, hip hop, EDM, and trap elements. The album explores the themes of love and the complexities of growing up. Eight songs made the final tracklist, including two collaborations: ' Ice Cream' with Selena Gomez, and ' Bet You Wanna', featuring Cardi B.

For the album, Blackpink recorded over ten new songs and worked with a variety of producers, including Teddy, Tommy Brown, R. It is the group's first full-length work since their debut in 2016. The Album is the debut studio album by the South Korean girl group Blackpink, released on Octoby YG Entertainment and Interscope Records.

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