In October 2023, Megan Thee Stallion officially left her label1501 Certified Entertainment, three years after prosecuting the label for allegedly failing to uphold the integrity of and renegotiate her recording contract.[6][7] Now releasing music under her self-funded Hot Girl Productions, she teased her first post-departure project via threeInstagram posts on October 12,[8] which were collectively captioned "Let's begin". Each post featured one image that, when combined, read "Act One".[9] The project was revealed to be her third studio albumMegan, released on June 28, 2024.[10] It debuted at number three on the USBillboard 200 and featured the US number-one song "Hiss", the album's second single.[11]
Following the album's release, Megan Thee Stallion promoted "Mamushi" (2024), featuring Japanese musicianYuki Chiba, as the final single fromMegan.[12] Later that year, she began teasing a collaboration with a member from the South Korean boy group BTS, having worked with them on a remix of the group's 2021 single "Butter".[13] The collaboration, "Neva Play", featured rapper RM and was released on September 6.[14] The same month, she posted a short video on Instagram that showed her transform into a butterfly and several photos that read "Act Two" when arranged as a grid. Megan Thee Stallion captioned the video by saying "Stay tuned".[15] Megan Thee Stallion teased the then unnamed project as a mixtape on October 3 via herX account, claiming it would be the "hardest mixtape of 2024".[16] She later officially announced theMegan: Act II deluxe edition on October 18 via herInstagram account,[17] later revealing the tracklist on October 23.[18]
Kyann-Sian Williams ofNME gave the album 5 out of 5 stars, writing that the second act "confirms why she [...], despite all the adversity that has plagued her in recent years, firmly stands atop the rap world as the princess of rap", praising the collaborations, which "improve greatly on those that were offered up onMegan".[19] Matthew Ritchie ofPitchfork rated the album 7 out of 10 and wrote in a review, "The album feels spiritually aligned to herTina Snow andSomething for Thee Hotties tapes: a creative recentering marked by funny, well-varnished raps that arrive with a refreshing lightness and freedom."[20]
Disc 2 mirrors the track listing ofMegan. An alternate digital edition includedMegan: Act II as disc 2, with the originalMegan track list as disc 1 instead.[21]