Blackpink, the multinational female music act that is the biggest girl group in the Korean pop (K-pop) firmament, may finally be close to renewing their collective contract with YG Entertainment.
The news was widely reported in Korea on Monday and comes after months of speculation.
that the four-piece – Jisoo (real name Kim Ji-soo), Lisa (Lalisa Manobal), Jennie (Kim Jennie) and Rose (Roseanne Park) – would take their acts elsewhere. Blackpink’s previous contracts with YG expired in August.
Munhwa Ilbo (or Culture Daily) claimed to have an exclusive on Monday, stating that Blackpink will re-up with YG, but the four individuals will not be renewing their exclusive contracts with the agency. It added that two of the four had signed the new Blackpink-YG contract.
The news sent YG’s KOSDAQ-listed shares up 3% on Monday morning. However, the company issued a press statement saying that nothing had been confirmed and that talks were ongoing.
Over the past few months, the company has made a series of regulatory filings saying much the same thing, trying to tamp down speculation that it is about to lose its biggest single act and biggest source of revenue. The company’s shares suffered two sharp falls – of 9% and 13% – in September as rumours swirled.
Blackpink was formed under YG in 2016, but as the quartet have achieved new levels of global recognition and popularity, there has been speculation that the old seven-year deal would need to be significantly renegotiated in the artists’ favour. Blackpink’s recent world tour included 66 performances in 34 cities and was seen by 2.1 million people, according to YG. They also headlined Coachella in April.
There has also been speculation that the four members of the group are increasingly looking to develop their individual careers. The Munhwa Ilbo seems to agree with this line of thinking. “Exclusive contracts between each member and YG Entertainment have not been signed. In the future, they plan to carry out individual activities and only come together for Blackpink activities,” it said.
