K-pop girl group BLACKPINK are still discussing their individual contracts with YG Entertainment, the label has confirmed.
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YG Entertainment announced yesterday (December 6) that BLACKPINK had re-signed with the K-pop agency following a months-long negotiation process, saying that the quartet would be releasing “new albums” and embarking on “world tours” in the future.
However, in its statement, YG Entertainment also said that BLACKPINK had “signed an exclusive contract for group activities”, which left questions about the quartet’s individual contracts with the agency.
In a later statement to South Korean news outlet eToday, YG Entertainment confirmed that “the exclusive contracts for individual members are still being negotiated”.
In addition, the label also said that it is currently “difficult to provide details” about the duration of BLACKPINK’s new group contract, as well as any possible upcoming plans for new music. “For now, please kindly refer to the official statement only,” per TV Report, as translated by Soompi.
Yesterday, the share price of YG Entertainment shot up by as much as 29 per cent after it announced that BLACKPINK have renewed their contracts with the agency. The news also seemed to have a knock-on effect in the industry, with the shares of other K-pop companies also increasing after the news, including HYBE (8.5 per cent) and JYP Entertainment (7 per cent).
BLACKPINK made their debut in 2016 under YG Entertainment, and have since go on to become one of the most successful K-pop girl groups globally. Notably, despite not having released any new groups music in 2023, the quartet were still the second-most streamed K-pop act on Spotify for the year.
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