YG Entertainment shuts down the 40 billion won BLACKPINK’s contract renewal fee rumors.
Regarding the recent rumors, YG set the record straight by informing Korean media outlets saying, “This amount is not BLACKPINK’s contract renewal fee only,” and added, “BLACKPINK’s group activity plan is being prepared.”
According to YG Entertainment’s 2023 business report released on March 21, the exclusive contract sum that YG obtained last year amounted to 41.185 billion won.
Last year, YG didn’t bring in any new artists. It’s been revealed that, apart from BLACKPINK, no fresh deals were made with current artists, sparking rumors that the majority of the exclusive contract funds went to BLACKPINK.
A representative from YG revealed signing additional contracts besides the one with the group, saying, “We cannot tell you about all the details of the contract, but last year, we had renewals and new contracts for many IPs, not just BLACKPINK.”
In December, BLACKPINK renewed their group activities contract after their exclusive agreement with YG ended last year. However, the members didn’t sign separate contracts for individual activities. Jennie, Jisoo, and Lisa each set up their solo agencies, while an announcement regarding Rosé solo endeavors is yet to be made.