- Shares in Blackpink’s managing label YG Entertainment rose 3% following reports that the four-member girl group has agreed to continue group activities with the company.
- Earlier, YG shares fell following reports that members would not renew their contracts.
INDIO, CALIFORNIA – APRIL 22: (L-R) Jisoo, Lisa, Jennie and Rosé of BLACKPINK perform on the Coachella Stage during the 2023 Coachella Valley Music and Arts Festival on April 22, 2023 in Indio, California. (Photo by Emma McIntyre/Getty Images for Coachella)
Emma Mcintyre | Getty Images Entertainment | Getty Images
Shares in K-pop agency YG Entertainment rose over 3% on Monday after South Korean media reported that girl group Blackpink has agreed to continue group activities under the label.
According to an exclusive from South Korean outlet Munhwa Ilbo, individual members will not renew their exclusive contracts with YG, but the group agreed to continue group activities as Blackpink under the label.
Munhwa Ilbo said that “exclusive contracts between each member and YG Entertainment were not signed. In the future, they plan to do individual activities and meet only for Blackpink activities,” according to a Google translation.
The report added that two members have already signed a contract “to agree to continue Blackpink’s activities,” without naming the members.
It is the latest development in a long-running contract saga involving the four-member group consisting of members Jisoo, Jennie, Rosé and Lisa.
In September, YG shares fell 9% and 13% on two occasions as media reports said three members of the wildly popular girl group will not renew their contracts with the label.
On Tuesday last week, YG said in its quarterly report that Blackpink’s contract is being negotiated and the company will reveal the results “later.”
Blackpink is arguably one of YG’s most successful acts, with the company claiming that the group’s latest world tour attracted 2.11 million people around the world, spanning 66 shows in 34 cities.