The South Korean girl group BLACKPINK is currently in the spotlight. Not just for their excellent performances during their ongoing world tour but also for their much-anticipated contract renewal with their agency, YG Entertainment. BLACKPINK consists of Jennie, Jisoo, Lisa, and Rose and has significantly contributed to YG’s operating profit, accounting for more than 80%. This makes their contract renewal a topic of interest for fans and industry insiders.
The band’s contract with YG Entertainment, which began on August 8, 2016, is due for renewal this month. However, due to the band’s packed world tour schedule, the announcement might be delayed until September. This has led to speculation and anticipation among fans and investors.
what if blackpink confirms contract renewal on august 8th then BOOM comeback/single announcement pic.twitter.com/foTyh1eFAx
— kitty (@jensoolapdance) July 28, 2023
According to Cha You-Mi, a security researcher at Mirae Asset, each member of BLACKPINK could receive a down payment between 1 billion and 1.5 billion KRW (approximately 769,036 to 1.15 million USD). This estimate is based on previous deals with bands like BIGBANG and TWICE.
The renewal agreement is expected to maintain the current profit distribution, where BLACKPINK receives 80% of the operating profit while YG gets 20%. This shift in favor of the artist is common after contract renewals. Despite the decreased company share, the overall benefits outweigh this concern. A contract renewal could positively affect YG’s stock price, given BLACKPINK’s significant contribution to the company’s revenue.
fanbases cryptic tweets = blackpink contract renewal omggg pic.twitter.com/RNK4X18awT
— jenlisa ☾ (@lsmjnk) July 28, 2023
The impact of BLACKPINK’s contract renewal
The renewal process isn’t just about numbers. It also reflects the evolving relationship between the artist and the agency. In the case of BLACKPINK, the renewal is seen as a positive signal, especially considering the girl group’s strong ticket-selling power and worldwide popularity. However, rumors have surfaced about individual members potentially exploring opportunities with overseas agencies or setting up their own. The members have not provided official confirmation, adding to the intrigue surrounding the renewal.
The impact of BLACKPINK‘s contract renewal extends beyond the entertainment industry. Analysts and ordinary netizens are monitoring the situation, with some expressing concerns about the amount and others emphasizing the importance of the ratio for future settlements.
My anxiety bec of blackpink contract renewal 🥲 📈📉📈
— ý 🫧 (@chaelisaslay) July 31, 2023
As the world awaits YG’s official announcement, the anticipation and speculation build, adding to the mystique of one of South Korea’s most beloved K-pop acts. Whether the renewal will lead to a new chapter in BLACKPINK‘s success story or mark a turning point in their relationship with YG remains to be seen. Either way, the outcome will resonate throughout the scene and beyond. – K-Pop News Writer
Featured Image: BLACKPINK made history when they performed for Vietnamese BLINKs over two days. Source: Twitter/@BLACKPINK.