After months of negotiations, Blackpink has decided to remain under YG Entertainment after their contract expired in August this year.
All four members have decided to extend their contract for group activities and the new contract is believed to be among the most lucrative signed by any music group this year.
Details of the new group contract are not immediately clear, and it seems the agency's individual contracts with Jisoo, Lisa, Jennie and Rosé are still being negotiated.
BLACKPINK to renew YG Entertainment contract amid buzz of solo endeavours? Here’s what we know so far
Sources suggest that while Rose is likely to continue with YG, the remaining members—Lisa, Jennie, and Jisoo may not extend their exclusive contracts.
New Delhi: BLACKPINK has won millions of hearts as they have become a globally famous female group in just seven years. They are the band who headlined Coachella as the first K-pop group, conquered US stadiums on their Born Pink world tour, and broke various records, both collectively and individually.
The future of the leads Rose, Jennie, Jisoo, and Lisa are now up in the air as negotiations with their label YG Entertainment is going on. Contracts for K-pop artists typically last seven years, and the female group’s contract reportedly expired on August 7.
According to Munhwa Ilbo, a daily newspaper in South Korea, BLACKPINK will continue to work together, but individual members may not extend any exclusive contracts with the YG Entertainment agency.
YG Entertainment’s statement on BLACKPINK
Meanwhile, according to Naver, a South Korean online platform, YG Entertainment issued a statement claiming that “nothing has been confirmed and discussions are ongoing”. According to various sources, aside from Rose, the remaining three members, Lisa, Jennie, and Jisoo, have decided not to renew their contracts with YG.
There are also reports that Jennie and Jisoo are planning to start their own agency, hinting at their journey as individuals.
BLACKPINK’s contract to be negotiated?
YG Entertainment stated in their quarterly report on November 14 that the exclusive contract with the singers is being negotiated for renewal. The final decision will be announced later.
This year, YG Entertainment is concentrating on renewing BLACKPINK’s contract, despite having established multiple idol IPs (Intellectual Properties).