K-pop agency YG Entertainment announced that all four members of Blackpink have extended their contracts with the agency. This news has alleviated concerns about the group’s future in music after their previous contracts expired in August.
The agency is currently negotiating an exclusive contract with Blackpink for their solo activities.
Following this announcement, shares in the Seoul-based artist promoter experienced a significant increase, rising by as much as 29 per cent on Wednesday, marking their most substantial intraday jump in over a decade. YG Entertainment also stated that Blackpink is planning to release a new album and embark on a world tour with the agency.
In a statement, YG founder Yang Hyun Suk expressed the agency’s pleasure in continuing their relationship with Blackpink, emphasizing the group’s representation of K-pop on the global music stage. The statement also assured the group of constant support and unwavering trust in their endeavors.
The renewal of Blackpink’s contracts has sparked immense excitement among fans who have eagerly anticipated the group’s reunion.
Fans took to social media to express their joy and anticipation, with one comment stating, “We won so hard. Real music is coming back,” and another remarking, “I’m over the moon with joy! Blackpink’s journey continues with all four members renewing their contracts. The future looks brighter than ever!”
However, some fans voiced dissatisfaction with YG, with one expressing shock and stating, “They all deserve better.”
Blackpink, which made their K-pop debut in 2016, has achieved global success, becoming the world’s most popular girl group. They have set records on the Billboard charts with hits like “Shut Down” and “Pink Venom”.
Jisoo, Lisa, Jennie, and Rosé, the members of Blackpink, were the first K-pop headliner at the Coachella festival in California, and their most extensive global tour to date was completely sold out earlier this year.
Last month, the Blackpink members were honored with honorary Member of the Order of the British Empire medals from Britain’s King Charles for their efforts in promoting environmental sustainability to a global audience as ambassadors for the UK’s presidency of the United Nations Climate Change Conference in 2021.
