Blackpink’s contract extension may be good news for fans, but experts say that the 4 girls are still facing certain barriers.
Blackpink renews group contract with YG. Photo: YG
Blackpink has renewed their group contract with YG Entertainment, the company that has managed and led them since 2016. Amidst many speculations about the four girls not renewing their contract, YG has successfully renewed their contract with Blackpink. .
YG announced that the company will support Blackpink in realizing the group’s goal of global coverage, and release a new album and a large-scale world tour in the near future.
After announcing the contract extension with Blackpink, YG saw its stock price spike, hitting 60,400 won and increasing vertically.
Groups contemporaneous with Blackpink such as BTS and TWICE have all renewed their contracts before their old contracts expired.
In Blackpink’s case, it remains to be seen whether all Blackpink members will renew their contracts as individuals.
If members choose not to renew their individual contracts with YG, they can only participate in group activities when their individual schedules allow.
Each member of Blackpink has built their own personal brand, with great influence in many fields such as music, fashion, and movies.
Blackpink’s artistic vision was intentionally expanded, as shown by Lisa performing at the Crazy Paris Horse nightclub, and Jennie and Jisoo participating in acting.
According to Korea Times, with Blackpink’s reputation, the members will not only rely on YG’s support to build their individual careers.
Blackpink received the Medal of Honor at Buckingham Palace in London. Photo: Yonhap
Undeniably, Blackpink’s group contract extension is a blessing for YG. The company has been struggling with crisis over the past years, and is facing a serious shortage of artists.
The uncertainty was evident right during the launch of the new group Baby Monster. YG does not promote properly and does not invest in image to take care of new recruits.
According to critic Dong Sun Hwa, YG’s current overall picture is also not positive. They lost all 5 members of Big Bang – the legendary Kpop group. Before that, they couldn’t keep iKON and 2NE1, even though they were all groups with YG’s identity.
YG achieved international success in 2012 thanks to PSY’s hit “Gangnam Style” reaching 4.9 billion views on YouTube. They were in their heyday from 2012 to 2016 when Big Bang, 2NE1, Lee Hi, ikKON, Winner were all digital music “monsters” of Kpop.
It can be said that YG at the time of creating Blackpink 7 years ago and YG at the present time are very different. Blackpink from ambition has now become the only hope that can help YG maintain its position in the Big 4 (4 largest companies in Kpop).
2023 is a tumultuous year for Blackpink when they are caught up in a lot of noise from love affairs, suspicions of using banned substances, filming 18+ movies, dancing at strip clubs… However, they are still girls who are at the top of trends, with attractive personal brands.
Blackpink, with 92 million YouTube subscribers, the highest-grossing “Born Pink” tour of all time and hundreds of unprecedented records, will have to carry a losing YG.
