Sayart.net - BLACKPINK Renews Group Contract with YG Entertainment Amid Individual Member Uncertainty

Quartet to Release New Album and Embark on World Tour; Stock Surge for YG Entertainment

Courtesy of YG Entertainment

K-pop girl group BLACKPINK has officially renewed its group contract with YG Entertainment, the agency that has represented them since their debut in 2016. The decision was announced by YG on Wednesday, highlighting the renewal as a result of mutual trust. The agency expressed its commitment to support BLACKPINK's global presence, revealing plans for a new album and a large-scale world tour in the future.

Following the announcement, YG Entertainment's stock experienced a notable surge, reaching 60,400 won ($46) on Wednesday afternoon, marking a more than 25 percent increase from the previous day. 

▲ Courtesy of YG Entertainment

Despite the group renewal, uncertainty surrounds the individual contract extensions of BLACKPINK members Jisoo, Jennie, Rose, and Lisa. In the K-pop industry, speculation has risen concerning the individual plans of the members, with reports suggesting potential establishment of their own management companies. The case draws parallels with the Grammy-nominated boy band BTS, whose seven members renewed their contracts with HYBE earlier this year.

Individual contract decisions may lead BLACKPINK members to focus more on solo careers, convening for group activities when schedules permit. Each member has cultivated a distinct personal brand, amassing over 70 million followers on social media. They have ventured into solo music careers, with Jisoo and Jennie also exploring acting opportunities.

BLACKPINK's global influence extends to the fashion world, with each member serving as a brand ambassador for renowned high-end fashion houses such as Chanel, Saint Laurent, Celine, and Dior.

Despite individual trajectories, BLACKPINK's collective renewal is seen as a positive development for YG Entertainment, which has faced challenges in recent years. The company experienced setbacks with legal issues involving Yang Hyun-suk and significant losses of intellectual property, notably with the departure of BIGBANG members.

BLACKPINK's recent achievements include concluding their second world tour, the largest-ever for a K-pop girl group, attracting 1.8 million concertgoers and earning an estimated $260 million. The group's online presence is notable, with over 92 million subscribers on YouTube, making them the most-followed musicians on the platform globally.

Internationally acclaimed, BLACKPINK was honored with the Member of the Most Excellent Order of the British Empire (MBE) last month for their efforts in promoting environmental sustainability as ambassadors of the 2021 United Nations Climate Change Conference under the U.K.'s presidency.

Sayart

Blue YIM, yimyoungseo1010@naver.com