K-pop girl band BLACKPINK has officially renewed their contract with YG Entertainment, putting an end to all the speculations about the group’s departure from the management company.
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YG Entertainment made an official announcement on December 6 KST, stating that they had successfully negotiated with the members and that the group will continue to shine under the contract with their debut label. The same company also backs BigBang and BABYMONSTER.
In a statement YG Entertainment said “We are pleased to announce that our board of directors has successfully come to an agreement on the signing of exclusive group contracts for all four members of BLACKPINK, our talented artists.” They further added “BLACKPINK will continue to do its best to shine more brightly in the world music market as an artist representing K-POP, and we will continue to give their unwavering support and faith in their actions.”
BLACKPINK’s prior contracts expired in August. Although the statement clears that the group activities will be carried forward like before, individual contracts are still being negotiated with each member as per K-media sources. Apparently a few members are still considering pursuing solo careers after parting their ways with the agency but continuing as a group BLACKPINK.
As soon as the news of the renewed contract with the K-pop girl band came to light, YG Entertainment’s declining stock saw a remarkable 20% surge. Blinks flooded the internet with their excitement, celebrating them as the reigning queens of K-pop.
A fan wrote “blackpink owns them”, other said “Blackpink queens”, “bc theyre the queens of k-pop”, “BLACKPINK raising YG from death”, “BP is their only income these days.”
Considering BLACKPINK has had one of the most successful world tours in terms of commercial records, YG Entertainment and each member are anticipated to earn good profits from BLACKPINK’s collective projects.
