Will BLACKPINK’s deal with YG Entertainment be extended? BLACKPINK’s exclusive contract with YG Entertainment expires in August of this year. In its analyst report on January 19, NH Investment & Securities expected BLACKPINK would extend its deal with the label.
However, it won’t be as simple for YG Entertainment as the members are being offered significantly larger guarantees elsewhere, according to the new media report by Munhwa Ilbo on January 23. One insider claims that YG Entertainment cannot compete with the 100 billion KRW offer made to Lisa to move labels.
Indeed, if they wish to keep using the moniker “BLACKPINK,” the group members won’t just up and relocate because they have the cash. Insiders continue to hold that YG Entertainment must provide at least 20 billion KRW per member.
Some think that YG Entertainment’s decision to release Baby Monster was made to lessen the risk that the renewal agreement with BLACKPINK would not be successful. BLACKPINK’s current world tour will come to an end in June. Two months from now, the contract will expire, which is why YG Entertainment might be worried.
YG Entertainment
Yang Hyun-suk founded the South Korean global entertainment company YG Entertainment Inc. (Korean) in 1996. The business is a record label, talent agency, music producer, concert and event management organization, and publishing house for music.
Additionally, the business runs other subsidiary businesses under a different publicly traded company called YG Plus, including a clothing line, a golf management company, and a cosmetics brand.
Along with performers and actresses including Kang Dong-won, Choi Ji-woo, Cha Seung-won, Lee Sung-Kyung, Jin Kyung, Jang Ki-Yong, Yoo In-na, Son Na-Eun, and Yoo Seung-ho, current artists include Sechs Kies, Big Bang, Akdong Musician, Winner, Blackpink, and Treasure. One such well-known performer is Jeon Somi, a member of The Black Label, a division of YG Entertainment.
BLACKPINK is predicted to be offered at least $16.2 million dollars per member to renew their contract with YG Entertainment. pic.twitter.com/OCzypoL5vD
— Pop Base (@PopBase) January 23, 2023
Wheesung, Epik High, 1TYM, Gummy, Seven, Minzy, Park Bom, 2NE1, Nam Tae-Hyun, Lee Jong-suk, Psy, Seungri, B.I., One, CL, Lee Hi, Jinusean, Sandara Park, T.O.P, Daesung, Bang Yedam, and iKON are just a few examples of former artists.
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