Rumors are going around that BLACKPINK is all set to leave their management agency YG Entertainment next year. Moreover, the K-pop girl band will reportedly join Teddy’s The Black Label.
Here is everything you need to know.
BLACKPINK to join The Black Label in 2023
According to ongoing rumors, BLACKPINK will move their management agency to Teddy’s The Black Label once their contracts with YG Entertainment end next year.
For the unversed, The Black Label is a subsidiary of YG Entertainment.
In addition, the rumors stem from recent news centering around YG Entertainment’s supposed decision to ‘restructure’ the agency.
According to the news, YG Entertainment is planning to turn the agency into a format where multiple labels work under a larger parent branch.
Nevertheless, it is reportedly to prevent numerous operations from being managed by only one or two labels.
Meanwhile, on 30th December, the agency announced that Korean actor Kang Dong Won and the boy band iKON have decided to not renew the contracts with the label and part ways.
Besides that, one exclusive media outlet reported that a representative for YG Entertainment has seemingly released a statement to respond to the ongoing rumors regarding BLACKPINK’s management.
The statement read, ‘There’s nothing I can confirm regarding the news. What I can say is that our contracts with the members have not ended yet.’
Additionally, they said, ‘It’s hard to confirm whether they will sign with The Black Label or not after their contracts end.’
Also, the news suggests that the contracts of BLACKPINK’s members will most likely come to an end sometime in the second half of 2023.
Furthermore, BLACKPINK made its debut in August 2016 by dropping its first single album titled, ‘Square One’.
Big Bang members Taeyang and Daesung leave YG Entertainment
Most recently, Big Bang members Taeyang and Daesung have also announced their departure from their longtime label YG Entertainment.
Regardless, the news is going around that Taeyang has chosen to change his agency and will transfer to YG Entertainment’s associate agency, The Black Label.
Subsequently, The Black Label is run by Korean producer Teddy Park who is known for his work in songs of BLACKPINK, Big Bang, 2NE1, and Jinusean.
Also, the subsidiary agency is home to many prominent musicians, rappers, and producers such as Jeon Somi, Zion.T, Løren, Vince, Okasian, R.Tee, and among many more.
According to a statement by The Black Label, ‘After working together as producer and artist for a long time, producer Teddy and artist Taeyang are taking on a fresh start at The Black Label based on their musical trust in one another.’