After lengthy discussions, YG Entertainment announced the successful contract renewal with all four BLACKPINK members just before the end of 2023. However, this contract renewal may not be what you expect. So, what does it mean behind this successful contract renewal? Read on to discover what lies behind BLACKPINK’s successful contract renewal in the following report.
YG Entertainment Announces Successful Contract Renewal with 4 BLACKPINK Members in 2023
A month before the end of 2023, all BLACKPINK members completed their contract renewal with YG Entertainment.
On December 6, YG Entertainment confirmed the contract renewal to Korean media, Ilgan Sports. According to the announcement, the company had successfully signed an exclusive contract with all BLACKPINK members.
While this may satisfy fans and shareholders, potential issues beyond this contract renewal still exist. That is because, according to YG Entertainment, the successful contract renewal with all four members was only for BLACKPINK group activities.
“After thorough discussions, we have successfully renewed an exclusive contract with BLACKPINK, reflecting our mutual trust and commitment to their future activities.”
YG Entertainment.
BLACKPINK Members Contract Renewal 2023: Exclusively for Group Activities
Further in the announcement, YG Entertainment promised to continue BLACKPINK’s activities and group promotions. The company also vowed to reward fans with group activities befitting BLACKPINK’s global superstar status. This promise indicates more new albums and world tours for BLACKPINK in the future.
Along with the announcement, YG Entertainment’s founder and co-CEO Yang Hyun Suk expressed his gratitude to fans and the members.
“I’m excited to maintain my relationship with BLACKPINK. In the future, they will strive to excel even more in the international music scene and as Kpop artists.
I will fully support them and have complete confidence in their endeavors.”
Yang Hyun Suk.
Will this Promise REALLY Happen?
Following rumors about BLACKPINK’s future with YG Entertainment, it’s now confirmed that their latest contract is exclusively for group projects. YG Entertainment’s successful contract renewal with all members was to make sure that the members would still commit to their roles as BLACKPINK members and maintain the group activities.
While this may provide enough solace for fans and shareholders, it leaves room for the members to explore individual opportunities with different agencies.
Indeed, there are many Kpop groups that maintain their solid reputations even after their members leave the company. 2PM, Girls’ Generation, GOT7, EXO, and Super Junior remain strong prominent groups in the modern-day Kpop.
However, fans also notice that members will be busier with more individual schedules once they sign separate contracts with different companies. It also means a high possibility of conflicting schedules between personal and group agendas. That is why most of the above groups have rarer comebacks and group promotions.
Considering BLACKPINK’s limited discographies over the past 7 years, signing with different companies might lead to fewer group activities. This potential move for BLACKPINK members raises questions about the future of their collective projects.
In that case, what do you think about BLACKPINK’s 2023 contract renewal? Do you think YG Entertainment can fulfill its promise? Will they successfully continue BLACKPINK’s group activities even after the members sign with different agencies in the future? Please share your thoughts in the comments.
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Source: Ilgan Sports, Sports DongA, YNA.
