“Blinks” around the world heaved a collective sigh of relief when news broke that BLACKPINK had decided to remain with YG Entertainment. The K-pop girl group BLACKPINK has finally signed renewed contracts with the South Korean multinational entertainment agency, putting an end to all rumours and speculations about the group’s possible departure.
The management company made an official announcement on December 6, 2023, KST, stating that they had successfully negotiated with the members and that the group would continue to shine under the contract with their debut label. “Following careful discussions with BLACKPINK, we have signed a new exclusive contract for the group’s activities based on the strong trust held in each other,” the company said in a statement.
They further added that they plan to “repay their fans around the world with activities that match their global status in the K-pop scene with new albums and world tours.” The news was revealed in a regulatory filing by the company which caused its KOSDAQ-listed shares to leap by 26% to KRW60,700 by midday. “The board has completed a resolution about renewing the contracts with BLACKPINK’s four members,” YG said in the filing.
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In a press statement, the company said that the girl group is planning a new album and a world tour. “We are pleased to continue our relationship with BLACKPINK,” said Yang Hyun Suk, founder of YG Entertainment. He added that the band will continue to do its best to shine even brighter in the global music market as an artist representing their company as well as K-pop as a whole. “…And we send our unwavering support and faith to [fans].”
The news came as a respite after months of speculation that the four-piece act – Jisoo (Kim Ji-soo), Lisa (Lalisa Manobal), Jennie (Kim Jennie) and Rose (Roseanne Park) – would end up going solo or to another agency. BLACKPINK’s previous contracts with YG Entertainment expired in August 2023. Sources state that the four group members’ individual contracts are still under negotiation.
The Contract History
BLACKPINK was formed under YG in 2016, but as the quartet hit new levels of recognition and popularity worldwide there has been speculation that the old seven-year deal would have to be substantially renegotiated in the artists’ favour. BLACKPINK’s recent world tour included 66 performances in 34 cities and was watched by 2.1 million spectators, YG has reported.
Since their prior contracts expired in August, talks have been underway with YG Entertainment. Although it has been decided to carry on with group activities, individual contracts are still being negotiated with each member as per K-media sources. Apparently, a few members are still considering pursuing solo careers after parting their ways with the agency but continuing as a group BLACKPINK. In April, BLACKPINK made history with its sophomore set, “Born Pink,” becoming the first album from an all-female group to hit No. 1.
The same month Variety heaped praise on BLACKPINK’s performance at Coachella. “It’s clear from the stellar show that the group is not only fully formed and confident, it’s totally owning topline placement… with choreography meticulously timed to make the most of the stage’s massive video screens, and routines and references that called to mind past pop heroines like Lady Gaga and Janet Jackson,” Variety said in a concert review.
Reactions
Upon the news of the Pink Venom crooners making a group comeback, YG Entertainment’s declining stock saw a remarkable 20% surge. Blinks flooded the internet with their excitement, celebrating them as the reigning queens of K-pop.
BLACKPINK FOUREVER pic.twitter.com/bhgHepiZtt
— jennie (@jnkrated) December 6, 2023
A fan wrote, “blackpink owns them”. Another said “bc theyre the queens of k-pop”. A third fan said “BLACKPINK raising YG from death”, “BP is their only income these days.”
Given that the K-Pop group has achieved one of the most successful world tours in terms of commercial records, despite ongoing negotiations for personal contracts, YG Entertainment and each member are anticipated to earn good profits from BLACKPINK’s collective projects.
