YG Entertainment shares; Blackpink reportedly continued as a group
INDIO, CALIFORNIA – APRIL 22: (L-R) Jisoo, Lisa, Jennie, and Rosé of BLACKPINK perform at the Coachella Stage at 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 of K-pop group YG Entertainment climbed more than 3% on Monday after South Korean media reported that girl group Blackpink has agreed to continue group activities under the label.
According to a special agency from South Korea Munhwa Ilbo, individual members will not renew their special contracts with YG but the group agreed to continue with group activities as Blackpink under the label.
Munhwa Ilbo reported that “no specific contracts between each member and YG Entertainment have been signed. In the future, they plan to do separate activities and come together only for Blackpink activities,” according to Google translation.
The report said two members had already signed a contract “agreeing to continue Blackpink’s activities,” without naming the members.
This is the latest development in the long-running contract saga in which the four-member group consists of members Jisoo, Jennie, Rosé, and Lisa.
In September, YG shares twice fell 9% and 13% when media reports said three members of the popular girl group would not be renewing 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 saying the group’s recent world tour attracted 2.11 million people worldwide, spanning 66 concerts in 34 cities.