Blackpink does not sign individual contracts, is YG in trouble?

This announcement was released by entertainment company YG Entertainment on December 28, stating: "Recently, we have renewed the group activity contract with Blackpink. However, we have decided not to sign individual contracts with each member. YG Entertainment is committed to supporting all of Blackpink's group activities and at the same time wholeheartedly supporting each member's individual activities."

On December 4, the company confirmed that it would renew the exclusive contract for the group's activities "based on deep trust." Blackpink is expected to release new albums and hold a large-scale tour. On December 6, YG signed an exclusive contract related only to Blackpink's group activities. Despite YG's efforts, the renewal of individual contracts for all four members Jennie, Jisoo, Rosé, and Lisa did not materialize.

Blackpink does not sign individual contracts, is YG in trouble?

Blackpink refused to renew their individual contracts with YG. Photo: YG.

In fact, the "breakup" between Blackpink and YG was predicted. Even before Blackpink's exclusive contract ended, many theories were put forward, such as Lisa receiving a contract offer worth tens of billions of won from an overseas agency and considering leaving, or Jenny establishing a one-person agency and going her own way. It is clear that renewing the contract with the entire group is not an easy task for YG and Blackpink.

Blackpink members also have a strong will to promote together and maintain a group, but according to many sources, they also have a strong desire to pursue individual activities. This is said to be due to the different musical styles and directions that each member pursues. Accordingly, the members have agreed to work independently but still coordinate in group activities.

YG has also been partially successful in negotiating a deal with Blackpink, which was once considered an "impossible" mission.

Jennie is the first member to share about her new plans at the management company OA (ODDATELIER), while the other members are still keeping their individual plans for 2024 a secret. There are rumors that Lisa is negotiating with a foreign company, while Jisoo is looking for opportunities to expand her acting career.

On December 24, Jennie announced on social media about the establishment of a personal label, affirming her decision: "From 2024, I will be active solo through my personal company OA" and hoping to receive support for both my new challenges and Blackpink.

Jennie's personal brand OA is described on her website as a creative space, creating new and engaging experiences.

Blackpink debuted in August 2016 and celebrated their seventh anniversary this year, leaving a lasting mark on K-pop history. They are the first K-pop girl group to sell double million copies, top the US Billboard 200, and are the first Asian artists to perform at Coachella and Hyde Park. Blackpink also launched the largest-scale world tour by a Korean girl group.

Since October 2022, Blackpink has been holding the "Born Pink" tour through 34 cities with 66 shows, attracting about 1.8 million audiences. Thanks to that, YG's concert revenue in the third quarter reached 33.4 billion won, an increase of 681.2% compared to the same period last year. Revenue and operating profit in the third quarter also increased by 25.6% and 36.5%, respectively, to 144 billion won and 21.2 billion won compared to the same period last year. However, because the group contract is only successful on the group side, YG's revenue next year will definitely be affected.

Currently, the only artists left in YG are Treasure, AKMU, and Baby Monster. Treasure is growing in popularity thanks to their Japan-focused activities, AKMU is still dominating as a talented duo but is still nowhere near Blackpink's stronghold. In Baby Monster's case, the group has proven to be popular with audiences, but their broadcast or performance schedules have not yet been set, so it will be some time before the group is able to directly contribute to the company's profits.

Source: https://danviet.vn/blackpink-khong-ky-hop-dong-ca-nhan-yg-co-gap-kho-20231229215511141.htm