YG’s Stocks Bounced Back After the News of Blackpink’s Contract Renewal
Image Source: English Jagran
Blinks around the world were overjoyed when the news of Blackpink’s contract renewal as a group came in. For the last few months, there has been anxious speculation going on among fans across the globe about whether the group would be renewing their contract as a group or not. Their previous contracts had expired in August, and the fans feared the group would now possibly split up. BLACKPINK has put an end to all speculations by formally extending its contract with YG Entertainment.
Blackpink debuted in 2016 and has become the world’s biggest K-pop girl group. In 2019, they became the first female K-pop group to perform at Coachella. In 2022, they became the first K-pop girl group and the third K-pop group overall to top the Billboard 200 with their album Born Pink. Recently, the group ended its second world tour, which was attended by 1.8 million fans across the globe.
The management company made an official announcement on December 6 KST that they had successfully negotiated with all the members and the group would not disband. On Wednesday, the label’s regulatory filing published that “an exclusive contract for group activities based on strong trust” had been signed. They added that “BLACKPINK will continue to do its best to shine more brightly in the world music market as an artist representing K-POP, and we will continue to give our unwavering support and faith in their actions.” The agency also said that Blackpink plans 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 of BLACKPINK’s contract renewal as a group came as a relief for YG Entertainment. The company’s shares have not performed well in the market since mid-September due to speculations about the band’s possible disbandment. With the news of its exclusive contract renewal with the group, the company’s share price was able to reach a 25% higher point this Wednesday.
Although the members—Jennie, Jisoo, Lisa, and Rosé—have decided to carry on with group activities, their individual contracts with the company are still being negotiated. It is believed that some of the members are considering pursuing solo careers outside the agency. All the members have created a personal brand for themselves in the last few years. They have over 70 million followers, respectively, on social media, and have released their solo albums. Members Jisoo and Jennie have even undertaken acting projects. They are also influential in the fashion world as brand ambassadors for renowned fashion brands.
According to South Korean media outlets, if the four members choose not to renew their individual contracts and pursue solo careers under different representations, they would perform as a group only when their schedules would allow it. This has left many unsure about the future of the group. It has rarely been seen that any K-pop group has fully reunited if some members leave or refuse to renew individual contracts with their management. This has happened previously to their senior groups, such as Bigbang and 2NE1. Another thing that is making fans worry is that the company is not disclosing the tenure of this new group contract.
While uncertainty about the future of the group still looms, many fans are happy with the news of their contract renewal. Blinks flooded the internet with messages over this news. One user on X wrote, “See you next tour.” Another user wrote, “The biggest girl group in the world is there to stay! Blackpink will and always remain as four.”
Team Profile
- Freelance Journalist
- Sanchali Barua, currently pursuing her Master's in English at the University of Calcutta, is a dedicated individual with a curious mind and a profound interest in the entertainment industry. Throughout her academic journey, she has actively engaged in various writing assignments, contributing significantly to the development and refinement of her writing skills. Her passion for literature and keen involvement in the creative process reflect a commitment to exploring the diverse facets of the English language.
Latest entries
English9 April 2024‘Monkey Man’ Faces Trouble Securing a Release Date in India
News1 January 20243 Highly Anticipated K-Dramas You Can Watch This January
News29 December 2023K-Pop Star Lisa Creates History as She Gains 1 Million Followers on Instagram
News28 December 2023SBS Announces its Nominees for the 2023 Daesang (Grand Prize) Award
