BLACKPINK Members Set for Lucrative Renewal: Rumored $1.1 Million Contracts and 80% Profit Share!
3 min read
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BLACKPINK members are negotiating a contract extension with YG Entertainment. According to reports, a multimillion-dollar agreement and higher profit sharing are on the table. The label had stated that the specifics of the renewal will be publicly announced in September. According to some sources, the members may receive a total of $1.1 million, which is approximately Rs 9.1 crore, upon renewal. Not only that, but it is envisaged that the members will receive 80% of the earnings from the group’s merchandise, music, and events. The profit-sharing ratio between artists and the firm is normally 50-50, but sometimes the company gets a significant portion of the income.
Each BLACKPINK member is rumored to receive to receive $1.1 million upon contract renewal.
— Pop Tingz (@ThePopTingz) August 3, 2023
It is also expected that, as of the renewal, the members will receive 80% of the profits from products, music and events related to the group. pic.twitter.com/etI1hVajn8
As a result, this move will be critical for the members of BLACKPINK. YG Entertainment previously stated, ” – “But the global tour performance has already been set, therefore it appears that the present contract will be kept until the end of August.” The contract renewal may not be announced until late September.” Meanwhile, previous rumours stated that the contract renewal with Lisa had been difficult and is still questionable. As part of their world tour, BLACKPINK has visited nations in Asia, Europe, and the West since October 2022. BLACKPINK consists of four members: Rose, Lisa, Jisoo, and Jennie. In 2016, the group made its debut.
According To Reports Upon The Contract Renewal, All The BlackPink Members Will Receive Rs 9.1 Crore
BLACKPINK members are presently negotiating contract extensions with their management company, YG Entertainment. The label had stated that the specifics of the renewal will be publicly announced in September. According to some sources, the members may receive a total of $1.1 million, which is approximately Rs 9.1 crore, upon renewal. Given that BLACKPINK’s debut date is August 8, 2016, the contract announcement is likely to take place on August 8, 2023. Given that BLACKPINK is expected to get 80% of the operating profit while YG is expected to receive 20%, industry insiders have shown interest in re-evaluating the company following the contract renewal announcement. The profit-sharing ratio between artists and the firm is normally 50-50, but sometimes the company gets a significant portion of the income. As a result, this move will be critical for the members of BLACKPINK. In cases where the firm and the artist disagree, it is typical for regular worker contracts to be extended with existing conditions until the expiration date, followed by a delayed announcement.
As a result, it is being closely watched to see if BLACKPINK will truly announce the contract extension after the 8th of this month, as has been rumoured. According to a YG Entertainment executive, an early agreement is feasible, but due to the already scheduled world tour performances, the existing contract will most likely be extended until at least the end of August. The official also mentioned a recent incident with boy band iKON, in which the contract renewal status was published three months after the expected expiration date (debuted in September 2015, and the decision to leave YG was publicized on December 30, 2022). While some in the stock market interpret the August concert as a positive sign for contract renewal, rumours have circulated regarding individual members, which include Lisa, Jennie, Jisoo, and Rosé, possibly exploring possibilities with overseas entertainment agencies as well as establishing their own personal agencies. The members, however, have not issued any official confirmation.
