The K-pop sensation BLACKPINK has reportedly decided to renew its contract with their agency YG Entertainment, as disclosed by media insiders. The news suggests that not only will the Pink Venom vocalists continue with their existing contract but will also fortify their position as international stars. This revelation has set the fandom, known as Blinks, into a frenzy, even though an official confirmation is still pending.
Addressing recent speculations, YG Entertainment released a statement a few days ago, revealing ongoing discussions about extending the contracts of BLACKPINK members, which had initially expired in August. Following this announcement, there were rumours circulating about the departure of some BLACKPINK managers, intensifying concerns about the group's future.
According to a recent report, BLACKPINK has collectively agreed to engage in ‘group-based’ activities, with contracts of two members already renewed. However, the report also suggests the potential for individual solo projects, as the exclusive contracts with YG Entertainment and each member did not align entirely. Members are reportedly interested in pursuing individual ventures while still participating in group activities under the BLACKPINK banner.
Despite offers from other agencies, some members see the value of continuing their collaboration with YG Entertainment, the force behind BLACKPINK’s success. Negotiations are ongoing, and a source in the industry noted, “Some agencies are extending offers with down payments in the tens of billions of won to attract them. Nevertheless, certain members feel that partnering with YG, the entity that has backed BLACKPINK's endeavours thus far, is a more effective approach, and they are currently in ongoing discussions with YG.”
As of November 15, YG Entertainment officially stated, “Negotiations for a new exclusive contract with the artists are in progress. The final results will be announced through subsequent disclosures of key management matters related to investment decisions.”