BLACKPINK Renews Contract With YG Entertainment
Following months of speculation that members of the group would leave YG.
Global phenomenon and K-pop girl group BLACKPINK has officially re-signed with YG Entertainment. After months of speculation that some of the band members, namely Jisoo, Jennie and Lisa were planning on parting ways with YG when their exclusive contract ended in August, it has now been announced that all the members have renewed their contracts. Following the news, the company’s shares increased by 26% according to regulatory filings.
In the filing on Wednesday, YG Entertainment released a statement, “The board has completed a resolution about renewing the contracts with BLACKPINK’s four members.” YG founder Yang Hyun Suk said in another statement, “We are pleased to continue our relationship with BLACKPINK. BLACKPINK will continue to do its best to shine even brighter in the global music market as an artist representing not only our company but also K-pop…And we send our unwavering support and faith to [fans].”
According to Variety, each of the individual contracts of he four group members are still under negotiation. The group formed under YG in 2016. When the quartet hit new levels of popularity globally, there was speculation that the seven-year deal would need to be renegotiated. The group’s most recent world tour saw 66 performances in 34 cities.
