Blackpink — dubbed the world’s biggest K-pop girl group — have renewed their agency contract as a group, squashing fears they could split.
In a statement on Wednesday, December 6, YG Entertainment said "an exclusive contract for group activities based on strong trust" has been signed.
The agency also said the group plan to "repay their fans around the world with activities that match their global status in the K-pop scene with new albums and world tours".
The South Korean girl pop group formed in 2016 and are known as the most successful Korean girl group internationally.
Further details of the new group contract are not immediately clear, and the statement did not mention the agency's individual contracts with Jisoo, Lisa, Jennie and Rosé. South Korean news agency Yonhap has reported that these contracts are still being negotiated.
“We are more than thrilled to finally make an official statement that YG will continue the intimate relationship with Blackpink,” said YG Entertainment founder and executive producer Yang Hyun-suk in the press release.
“As the group represents YG and K-pop itself, they will certainly endeavor to shine brilliantly in the global music market,” he added. “YG will send unwavering support and trust in their actions.”
In July 2023, the famous girl band were said to be looking at going their separate ways, with some band members wanting to renew contracts with label YG Entertainment, while others were not so keen. YG Entertainment provided an update on negotiations with Blackpink in mid-November, saying that it was “still negotiating with the artists”.
Last month, the King praised the environmental credentials of the girl group. They also made history in July 2023, after becoming the first K-pop group to headline a major UK music festival.
What is going on with Blackpink’s contract renewal?
The issue of the girl band’s contract expiring and the band trying to find a new deal has been rumbling on for months and now seems to have come to a head.
The four-member group first signed with agency YG Entertainment in August 2016 on a seven-year contract. When the contract ended, the agency had not confirmed any contract renewals with any of the members, fuelling speculation the band could split and go their own separate ways, or sign deals with other agencies.
In July 2023, the K-pop agency said that the girl group’s contracts were still “under discussion”, following media reports that Lisa would not be renewing her contract.
In September 2023, reports claimed that Jennie, Jisoo and Lisa would not be renewing their contracts. YG Entertainment gave an update in mid-November, saying that it was “still negotiating with the artists”.
Who has renewed their contract?
The full band have now renewed their contracts, following a months-long negotiation process.
Could BLACKPINK break up?
Most K-pop contracts are for seven years, and so the media often refer to groups suffering the “seven-year curse”, where groups disband and split because a deal cannot be reached.
It still remains a possibility in the future, however, given the band’s popularity, fans are hoping a deal can be struck to keep them together — whether that be with their current label or a new one.
