Blackpink - the 'golden goose'

Each member of Blackpink earns hundreds of millions of USD through their music , concert ticket sales, and endorsements for various brands.

Speaking before the U.S. Congress in May, South Korean President Yoon Suk Yeol said, "Even if you don't know my name, you'll still know BTS and Blackpink." Today, K-pop groups are not only cultural icons but also money-making machines for major companies, contributing to the growth of South Korea's GDP . Forbes magazine commented that K-pop is a manifestation of South Korea's soft power. While BTS is slowing down due to military enlistment regulations, Blackpink continues to be active, becoming a prime example of the music industry.

According to WealthyPresence, Blackpink quickly earned hundreds of millions of dollars since their debut in 2016. The group's earnings came from album sales, streaming, and touring. In 2022, they sold 2.8 million albums. Between 2018 and 2022, they sold a total of 5.25 million albums in South Korea alone. The price per album ranged from approximately $18 to $35 (depending on the version). In addition to their two group albums, the individual members' releases also set numerous records.

In 2021, despite the impact of the pandemic, YG Entertainment announced that they achieved $7.1 million in operating profit in the first quarter, primarily thanks to album sales and online show tickets. Blackpink and their labelmate boy group Treasure sold 620,000 and 310,000 copies respectively. Blackpink's online shows also sold approximately 280,000 tickets, generating around $6.8 million in revenue, not including YouTube's commission fees.

Two world tours have brought YG enormous profits. The In Your Area World Tour (2018), with 36 shows in Asia, Europe, and North America, grossed $56.7 million. Born Pink, which started late last year, has so far grossed approximately $163.8 million, with over 900,000 tickets sold. On average, the group earns over $4 million per show with around 22,600 attendees. The above figures do not include 24 shows that have not yet been accounted for. This achievement makes Blackpink the highest-grossing girl group tour, surpassing the records of Spice Girls ($78.2 million), TCL ($72.8 million), and Destiny's Child ($70.8 million). The group will bring a concert to Vietnam at the end of July.

From left to right: The four members of the group: Lisa, Jisoo, Jennie, and Rose. Photo: ABC

Thanks to their beautiful image and unique personal style, Blackpink's members earn millions of dollars through advertising contracts with luxury brands. Jisoo has a multi-year contract with Dior and is also the brand ambassador for Cartier and Kiss Me. Jennie is associated with many major brands such as Chanel, Samsung, Adidas, Hera, and Calvin Klein. Rose is the "muse" of Saint Laurent, Tiffany, and Omega, while the youngest member, Lisa, is the face of Celine and Bvlgari.

The group members also earn a lot of money through social media. Lisa – dubbed the "Instagram Queen" – has 95.4 million followers on the platform. Jennie, Jisoo, and Rose follow with 80, 74, and 72 million followers respectively. In 2020, the Korean program Smart Consumer revealed that an advertising post by Jennie was worth approximately 600 million won (US$454,000). At that time, her personal account only had 30.4 million followers.

Forbes suggests that in addition to the money Blackpink members directly earn, they also contribute to boosting the economy, contributing billions of dollars through tourism and shopping activities. For example, the Tourism Authority of Thailand recorded a surge in visitors to an ancient city near Bangkok after Lisa checked in at the location. Similarly, items Jennie wears, from luxury to affordable, quickly sell out .

Despite earning a significant amount of money, the four girls are not as wealthy as many international stars, as they have to split half of their profits with their management company. Before becoming idols, like all other K-pop stars, they went through a trainee period that lasted an average of two years, costing around $40,000, all paid for by the company.

Their debut meant signing binding contracts with their management company for about 5-10 years, to recoup initial investments and production and promotional costs. According to the South China Morning Post, Jisoo currently has a net worth of $20 million. Rose, Lisa, and Jennie have net worths of $18 million, $14 million, and $10 million respectively.

Vnexpress.net