Blackpink's future when renewing contract with management company

On December 6, Korean entertainment company YG Entertainment announced that Blackpink decided to renew the group's contract after a thorough discussion.

After the extension, the four members are expected to continue their group activities under the support of YG Entertainment. Accordingly, the large Korean entertainment corporation is still responsible for releasing new albums and conducting the group's world tours.

Tương lai của Blackpink khi gia hạn hợp đồng với công ty chủ quản - 1 — According to Korean media experts, the individual activities of Blackpink members will not conflict with the group's overall activities (Photo: Naver).

YG CEO Yang Hyun Suk shared: "I am very happy to continue our relationship with Blackpink. The company will do our best to help the group shine even brighter in the global music market."

However, the company did not announce the results of the contract renewal between the members and YG Entertainment. Previously, there was information that the members of the group all had their own paths and chose a personal contract management company other than YG Entertainment.

"Individual contracts are expected to be flexible. In the event that individual activities require the name Blackpink, the members will still cooperate with YG because the name is owned by the company," said Korean researcher Lee Hwa Jung.

However, according to researcher Lee, independence will still be guaranteed to ensure the artists' individuality and color. "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 is managed by 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 notable success by topping the US Billboard 200 chart and the UK Official Albums Chart Top 100, becoming the first Kpop (Korean pop) girl group to achieve this feat.

Blackpink performs "Shut Down" live ( Video : SBS).

The group's second global tour, Born Pink , which just ended in September, brought in nearly $265 million in revenue. This figure makes Blackpink the highest-grossing girl group in world music history.

The group's four members, Jisoo, Jennie, Rosé, and Lisa, have all made a name for themselves in both the music and fashion industries.

YG Entertainment's success in renewing contracts with Blackpink members has significantly improved the company's operations.

Expert Lee commented that YG Entertainment really felt relieved when they resolved the contract renewal of Blackpink. The contract renewal issue of Blackpink has lasted for nearly 4 months, making the group's fans worried and nervous.

YG Entertainment's stock price has remained stable recently. "With Blackpink's official contract renewal, the biggest uncertainty has been resolved," said Mr. Lee.

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 continuously decreased after news that only 1 out of 4 members of the group Blackpink 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 was limited, but the detailed figures on the contract renewal of YG Entertainment and the members were not announced.

Last September, it was reported that YG Entertainment offered to pay an advance of $40 million to renew Lisa’s contract, but she refused. To date, neither Lisa nor YG Entertainment have responded to the reports.

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