BLACKPINK renews contract with YGE; agency's share price rockets
It's good news for K-pop fans, especially BLACKPINK fans! After months of negotiations, the popular South Korean girl group has finally renewed its contract with YG Entertainment. The agency released an official statement on Wednesday (December 6). Let's delve into the rising popularity of the group, what this exclusive contract means, and why it left all its fans anxious for the last few months.
What did YG Entertainment say about exclusive contract renewal?
"With strong trust, we signed an exclusive contract for group activities after having serious discussions with BLACKPINK," read the statement by YG Entertainment. The agency added that together with new albums and foreign tours, BLACKPINK intends to "repay their fans around the world with activities that match their global status in the K-pop scene." However, details of the contract haven't been revealed yet.
YG Entertainment's share price saw the contract's effect
Previously, when Korean news outlets reported that three of the popular dance and singing group's four members would leave YGE and only be with the group for half a year, YGE stocks crashed in September. However, since the announcement of the renewal, the company's share price has skyrocketed with over 20% increase since the beginning of the year.
BLACKPINK members' individual contracts still being negotiated
The agency is reportedly still negotiating individual contracts for all four members—Jisoo, Jennie, Rosé, and Lisa—of the group. As per earlier local reports, the members are free to pursue individual careers with other representation if they decide not to extend their individual contracts. This implies that they would only perform together when their schedules permit it. Similar instances have been seen in other groups.
About the biggest K-pop girl group, BLACKPINK
Touted to be the biggest girl group in the world, BLACKPINK, formed by YG Entertainment, debuted in 2016 and has been topping Billboard charts since then. As per Billboard, BLACKPINK is the most successful K-pop girl group to have made an impression on the American market as of right now. The quartet played at the Coachella festival in 2019 and headlined in 2023.
