BLACKPINK Renewed Deals with YG Entertainment: K-pop Phenoms Extend Their Musical Journey
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K-pop girl group BLACKPINK has formally Signed new agreements with YG Entertainment, as officially disclosed in the company’s regulatory filing on Wednesday. This announcement resulted in a notable 26% surge in YG’s KOSDAQ-listed shares, reaching KRW60,700 by lunchtime. YG stated in its release that “The board has concluded a decision to extend the contracts with all four members of BLACKPINK.” As per a press release, BLACKPINK has exciting plans in the pipeline, including a new album and a global tour. This news follows months of speculation about Jisoo (real name Kim Ji-soo), Lisa (Lalisa Manobal), Jennie (Kim Jennie), and Rose (Roseanne Park) potentially exploring new opportunities.
YG Entertainment announces that all members of BLACKPINK renewed their contracts. pic.twitter.com/cK1I90gRVh
— Pop Crave (@PopCrave) December 6, 2023
YG’s previous agreement with BLACKPINK expired in August. BLACKPINK was founded under YG in 2016, but as the quartet gained international fame and popularity, it was speculated that the existing seven-year contract would need to be significantly renegotiated in the artists’ favour. According to YG, Blackpink’s latest globe tour includes 66 concerts in 34 cities and 2.1 million fans. BLACKPINK’s sophomore album, “Born Pink,” debuted at No. 1 in April, marking the first all-female group record to do so since Danity Kane’s “Welcome to the Dollhouse” in 2008.
The Members Of BLACKPINK Have Signed A Contract Agreement With YG Entertainment
Despite suspicions of the group disbanding and focusing on separate projects, K-pop girl group BLACKPINK has chosen to extend their contract with their agency YG Entertainment, putting a stop to all uncertainty. On December 6, the management business publicly declared that they had reached an agreement with all four members and would keep up with group activities under their label. According to an announcement, the label stated, “We are pleased to announce that our board of directors has effectively agreed on the signing of exclusive group contracts for each of the four members of BLACKPINK, our talented artists.” Their statement continued: “BLACKPINK is going to continue to do everything they can to shine more brightly in the world music market as a performer representing K-Pop, and we will continue to give our complete backing and faith in their actions.” Since BLACKPINK’s previous contract expired in August of this year, there have been many whispers regarding the group’s disbanding.
However, negotiations with YG Entertainment were ongoing behind the scenes. As of yet, only group activities have been addressed; individual contracts for members are still being negotiated. According to several K-media reports, some members appear to wish to work on separate projects while remaining a part of the group. Following the announcement of the ‘Pink Venom’ hitmakers’ reunion as a group, the stock of YG Entertainment increased by 20%. The fans, popularly known as ‘Blinks,’ caught the internet by storm with their celebration of this achievement. Someone commented that “Blackpink owns them,” while others said, “Blackpink queens,” “bc they’re the queens of K-pop,” “BLACKPINK raising YG from death,” “BP is their only income these days.” Despite continuing contract negotiations for Lisa, Jennie, Rose, and Jisoo, BLACKPINK’s very successful global tour is likely to generate significant earnings for YG Entertainment and each of its members through collaborative initiatives.
