The successful contract extension between Blackpink and YG Entertainment is still a “hot” topic in Korean media. The future of the group and each member also concerns fans.
On December 6, Korean entertainment company YG Entertainment announced that Blackpink decided to extend the group contract after a thorough discussion process.
After the renewal, the 4 members plan to continue group activities under the support of YG Entertainment. Accordingly, Korea’s major entertainment group is still responsible for releasing new albums and conducting the group’s world tours.
According to Korean media experts, the personal activities of Blackpink members will not conflict with the group’s general activities (Photo: Naver).
YG’s CEO – Yang Hyun Suk – shared: “I am happy to continue our relationship with Blackpink. The company will try our best to help the group shine even more brightly in the music market.” global music “.
However, the company did not announce the results of the contract renewal between the members and YG Entertainment. Previously, there was information that the group members all had their own paths and chose a personal contract management company other than YG Entertainment.
Korean researcher Lee Hwa Jung said: “Individual contracts are expected to be flexible. In case personal activities require the Blackpink name, the members will still cooperate with YG because this name is owned.” of the company”.
However, according to researcher Lee, independence will still be guaranteed so that the artist’s own personality and color are guaranteed. “All individual activities will be carried out within the scope of not interfering with group activities,” researcher Lee emphasized.
Blackpink is a Korean girl group, officially debuted in 2016 and under the management of entertainment group YG Entertainment. After 7 years of operation, Blackpink has become a global girl group with 5 MVs with more than 1.3 billion views on YouTube.
The group also achieved a notable achievement by topping the US Billboard 200 chart and the UK’s Top 100 official album chart and was the first Kpop girl group (Korean youth music) to achieve this achievement.
Born Pink ‘s second global tour , which just ended in September, brought in nearly 265 million USD in revenue. This number makes Blackpink the girl group with the highest touring revenue in world music history.
The 4 members of the group including Jisoo, Jennie, Rosé and Lisa have all made a name for themselves in both the music and fashion fields.
YG Entertainment’s success in renewing contracts with Blackpink group members has helped this company’s operations improve significantly.
Expert Lee commented that YG Entertainment really felt relieved when Blackpink’s contract extension was resolved. Blackpink’s contract renewal issue has lasted for nearly 4 months, making the group’s fans worried and nervous.
Recently, YG Entertainment’s stock price has maintained stability. Mr. Lee said: “With Blackpink’s official contract extension, the biggest uncertainty has been resolved.”
In addition, the successful debut of “rookie” Baby Monster also helped YG Entertainment’s stock price increase. Previously, in October, YG Entertainment’s stock price dropped continuously after it was reported that only 1 in 4 members of the Blackpink group agreed to renew their contract.
Researcher Lee said that some terms in the contract between YG Entertainment and Blackpink were changed. Accordingly, the profit distribution rate for artists is limited, but the detailed figures on the contract renewal of YG Entertainment and its members are not announced.
Last September, it was reported that YG Entertainment offered to spend $40 million in advance to extend member Lisa’s contract but she refused. To date, neither Lisa nor YG Entertainment have responded to this information.
