BLACKPINK made headlines domestically and internationally with the news of their contract renewal
On December 6th, YG announced, “We had signed a renewal of an exclusive contract for group activities with BLACKPINK after careful discussion”.
Both sides had been discussing for a long time ever since BLACKPINK’s exclusive contract expired in August. Despite rumors and speculations, they finally succeeded in renewing the contract for group activities to maintain the team with full members.
The US media outlet CNN reported the news of BLACKPINK’s contract renewal, saying “Jennie, Jisoo, Lisa and Rosé will continue to promote together as the four-member group BLACKPINK. The contract period was not disclosed”, adding “As BLACKPINK’s previous contract expired in August and the members continued doing individual activities, fans around the world were worried that BLACKPINK, one of the most successful K-pop groups, would disband.”
BBC also said, “This is one of the most profitable contracts this year”, adding “All BLACKPINK members are still in their 20s but they are already famous”.
Reuters emphasized BLACKPINK’s huge impact as the group helped YG stock price increase 3 times after the news of their contract renewal was announced. Billboard also added, “BLACKPINK is the most successful K-pop girl group with great influence in the US market”.
In the new group contract announcement, BLACKPINK promised that they would repay global fans’ love by continuing to release new albums and doing world tours.
YG’s executive producer Yang Hyun-suk said, “I’m very happy to continue accompanying BLACKPINK”, adding “In the future, BLACKPINK will do their best to shine more brightly in the global music market as artists representing K-pop and our company. I’ll continue giving them my unwavering support and having faith in their activities”.
However, the renewal of the contract is only for group promotions. In particular, YG is still discussing exclusive contracts for each member individually. In this regard, YG official told SPOTV News on December 6th, saying “We are still discussing it”.
Source: Daum
