Is BLACKPINK renewing their contract: BLACKPINK, one of the world’s most-loved K-pop bands, has formally renewed their contact with the South Korean label “YG Entertainment”, putting all the speculations about the splitting of the group to an end.
The extension of BLACKPINK’s contract, comprising Jisoo, Jennie, Lisa, and Rose, was made by the management label on December 6.
For months, there have been rumours of the all-girl group band parting away bringing the financial situation of YG Entertainment a bit shaky. However, as soon as the news of the group renewing their contract with the agency unrolled, the shares of the company saw a rise by nearly a third.
BLACKPINK became the first K-pop girl group and the third K-pop group overall to the Billboard 20 with its album “Born Pink” in 2022.
Is BLACKPINK renewing their contract?
Fans were bouncing off the walls after hearing about BLACKPINK’s renewal contract with YG Entertainment, ensuring that the quartet will continue to perform together.
BLACKPINK’s contract with YG Entertainment expired on September 17 with their last performance at Gocheok Sky Dome, Seoul, and since then there have been speculations of members of the group joining other agencies.
However, the agency dismissed all speculation about the group’s separation, saying an “exclusive agreement for group activities based on strong trust” had been signed.
BLACKPINK was formed in 2016 and since then they have given several hits such as “Boombayah”, “DDU-DU DDU-DU”, “As If It’s Your Last”, “Kill This Love” and several others.
Is BLACKPINK renewing its contract with YG?
Over the last six months, YG Entertainment’s stock prices witnessed a downward trend, putting the company’s position at stake. The ambiguity regarding BLACKPINK not renewing their contract with the label became the crux of the issue.
Soon after the Seoul-based entertainment agency issued a statement of the renewal of BLACKPINK’s contract, it didn’t take a second for the shares to rise. As per Billboard, YG Entertainment’s share prices witnessed an upsurge of 29%, from $36.57, the lowest since January, to $47.16 at the time of the announcement.
The agency in a statement said that with strong trust, they have signed an exclusive contract for group activities after having serious discussions with BLACKPINK after months-long negotiations.
Further details of the new contract are not immediately clear, but there have also been reports of these contracts still being negotiated.
BLACKPINK contract renewal update
BLACKPINK’s seven-year contract with YG Entertainment ended in August, spreading fears of their disbandment. A few members of the renowned girl band were reportedly considering ending their contract with YG Entertainment in September 2023.
Reports surfaced in September that Rose was the only member renewing her contract with YG Entertainment. Around the same time, rumours surfaced that Jisoo would be joining another Korean company, while Jennie would be starting her own agency.
Words also spread that an American label had an eye on signing Lisa when she was solo-travelling in Paris without YG Entertainment. Lisa is undoubtedly the biggest international star among the four.
Although it has been decided to continue with group activities, individual contracts with each member are still being negotiated, according to K-media reports.
Are Blackpink Disbanding in 2023?
Even if the BLACKPINK members don’t renew their contracts with YG Entertainment, it would not necessarily lead to the disbandment of the group. Here’s why!
While concluding the “Born Pink” tour in Seoul on September 17, which also marks the day of the end of their seven-year contract, Jennie told fans that they [BLACKPINK] will continue to be the BLACKPINK you [fans) love.
This shows that whether or not they all sign with the managing label YG Entertainment or pursue their solo careers, they still intend to continue performing as the group “BLACKPINK”.
Earlier, South Korean media reported that Jisoo, Jennie, Rose, and Lisa are allowed to go for solo careers under different representation if they are unwilling to renew their individual contracts, however, this does not mean that they won’t perform as one. They will do so, but only when their schedule allows.
Also Read: What was Blackpink first song Boombayah or Whistle?
FAQs: Is BLACKPINK renewing their contract?
Below are the frequently asked questions related to the renewal of the BLACKPINK contracts.
#1. How long is BLACKPINK new contract?
At the moment, the timeline of BLACKPINK’s latest contract with YG Entertainment has not been released yet.
However, considering the previous contract, which was for seven years, we can expect the same for this contract if all the negotiations and deals between the members and the agency are finalized. This means that BLACKPINK’s latest contract may expire in 2030.
#2. Who in BLACKPINK have renewed their contract?
According to the reports, all four members of the world’s famous K-pop group “BLACKPINK” have renewed their contracts with label YG Entertainment.
YG Entertainment released a statement in which they said they are pleased to announce that their board of directors has successfully agreed on the signing of exclusive group contracts for all four members of BLACKPINK.
They further stated that the group 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 their unwavering support and faith in their actions.
#3. Will BLACKPINK continue as a group?
Yes, even if the members of BLACKPINK don’t renew their individual contracts with YG Entertainment, they will still continue group activities as “BLACKPINK”.
#4. Why Lisa leaving BLACKPINK?
Latest reports cite that Lisa and other members of the group have renewed their contract with YG Entertainment. However, in September, the speculations of her leaving “BLACKPINK” raised eyebrows when Lisa allegedly rejected two contract renewal offers from YG, reportedly worth $37.6 million.
Conclusion: Is BLACKPINK renewing their contract
The anxiety around BLACKPINK’s contract renewal with YG Entertainment has been put to rest as all the members of the group have officially renewed their contracts with the managing label.
The biggest girl group in the world, BLACKPINK, will continue to keep its fans glued to their feet. The return of BLACKPINK members with YG Entertainment has not only made their fans jump off their beds with excitement but also helped the plummeting company rise.
The world is ready to anticipate the next chapter of BLACKPINK after it created history in April 2023 at the Coachella Valley Music and Arts Festival as the first K-pop band to headline the event.