YG Entertainment confirms BLACKPINK group contract extension

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BLACKPINK will continue to perform as a group with YG Entertainment, as the music label confirmed their contract extension on 6 December. The confirmation ended months-long speculations about the future of the acclaimed K-pop band comprising Jennie, Jisoo, Lisa and Rosé.

Though there was no word about the individual contracts of the four members, the news of the group contract extension led to a rise in the stock prices of YG Entertainment. According to some reports, following the news, shares of the music label rose around 20 per cent from the previous trading day.

All about the BLACKPINK contract extension

‘Deep trust’

YG Entertainment
Image credit: BLACKPINKOFFICIAL/@BLACKPINK/Twitter

In a statement, the group’s agency YG Entertainment said, “After careful discussions with BLACKPINK, we signed exclusive contracts for group activities based on deep trust.”

According to a report shared on Korean online platform Naver, YG Entertainment’s executive producer Yang Hyun Suk said, “We are happy to be able to continue our relationship with BLACKPINK. BLACKPINK will continue to do their best to shine even brighter in the global music market as artists representing not only our agency but also K-pop, and we send our unwavering support and faith for their future steps.”

Status of individual contracts not clear

News of the contract extension comes just over two months after local Korean media reported that the members were  in a “last-minute” discussion with the label to continue as a group.

That report, published by Sports Seoul, also said that three members, Jennie, Jisoo, and Lisa, will not be renewing their individual contracts with YG Entertainment.

Another Korean media outlet Munhwa Ilbo later reported that Lisa might be moving on to another label for individual representation.

However, YG Entertainment is yet to officially announce the status of individual contracts.

One of the best in music and beyond

BLACKPINK, which debuted under YG Entertainment in 2016, has achieved tremendous success in the world of entertainment. The K-pop band holds several music records and is widely seen as one of the greatest music acts in history.

Their most recent success was the world tour, Born Pink, which drew over 1.8 million attendees and generated cumulative sales of around KRW 300 billion (USD 230 million).

Their influence has extended beyond music. In late November, King Charles III presented all four members with honorary Member of the Order of the British Empire (MBE) medals for “the band’s role as COP26 Advocates for the COP26 Summit in Glasgow 2021.”

(Hero and Featured images: BLACKPINKOFFICIAL/@BLACKPINK/Twitter)

The story first appeared on Lifestyle Asia Singapore



Post source: Prestige Online

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