The prominent Kpop 3rd generation group BLACKPINK, is currently under the spotlight for their contract renewal issues. As BLACKPINK contract end date approaches, signs have emerged that the remaining members may not proceed with their contract renewal. So, what will happen with BLACKPINK, and could they potentially disband? Check out the following complete signs and update on the BLACKPINK contract renewal issue.
BLACKPINK Contract Renewal May End Up in Failure: A Complete Update
Kpop has been experiencing a massive hike in values and image with the rise of various prominent idols. One of the most notable girl groups who played a huge part in elevating Kpop’s popularity in the global market is the renowned 3rd generation diva, BLACKPINK.
In the past seven years, BLACKPINK has pioneered new trends in the international music industry. Bringing their own girl-crush concepts, the BLACKPINK members have successfully created skyrocketing brand values as both solo artists and as a group. And BLACKPINK completed this challenging mission even when they possessed very few discographies.
Today, BLACKPINK is approaching the end date of their exclusive contract with YG Entertainment. Since the JYJ’s slave contract dispute in 2010, the South Korean government officially applied the rule, stating that exclusive contracts for Kpop idols may only apply for 7 years.
Since BLACKPINK’s debut date was on August 8, 2016, their contract is set to end in 2023.
Still, even after weeks have passed the official 7-year period, BLACKPINK members signaled nothing at the contract renewal update with YG Entertainment. Instead, signs and reason continued emerging, signaling the possible failure of BLACKPINK contract renewal.
Signs that BLACKPINK’s Contract Renewal May Fall Through, Approaching Its End Date
Here are all the signs and reasons that prompt the possible failure of BLACKPINK contract renewal with YG.
1. Only One BLACKPINK Member Renewed Contract with YG: Rosé
The first sign of BLACKPINK contract renewal failure was the fact that only one member of BLACKPINK decided to continue working with YG Entertainment: Rosé.
Yet, despite knowing that Rosé has renewed her contract, three remaining BLACKPINK members remained silent. Unlike other Kpop groups, no member followed Rosé’s decision.
This silence and no follow-up actions from BLACKPINK members signaled more possibility in their contract renewal failure.
2. YG’s Failure of Securing Contract Renewal Offers to BLACKPINK Lisa
Secondly, the fact that BLACKPINK Lisa has rejected contract renewal offers from YG Entertainment further signaled the agency’s failure.
Previously, BLACKPINK Lisa reportedly rejected two contract renewal offers worth 50 billion KRW (approximately 37.7 million USD) from YG Entertainment. That is because many global record labels reportedly pitched their own appealing proposals to the BLACKPINK’s maknae.
3. The Vague Statement from YG Entertainment
Thirdly, another update on the possible contract renewal failure to BLACKPINK was the vague statement from YG Entertainment.
Responding to the recent failure in their offers to BLACKPINK Lisa, YG Entertainment repeatedly voiced the same vague statement.
“We are still negotiating. No decision is available for now.”
– YG Entertainment.
4. Lisa’s Pending Schedules with the Agency
The next update on the possible failure of BLACKPINK contract renewal with YG is Lisa’s pending schedule with the agency.
Previously, Munhwa Ilbo reported a statement from a Chinese source of difficulties in arranging schedules for BLACKPINK Lisa. According to the source, they cannot schedule anything for BLACKPINK Lisa past August due to the contract renewal issues.
“We’ve been coordinating with Lisa and YG Entertainment about her potential appearance on our show. However, they’ve indicated that committing to dates beyond August is challenging due to uncertainties surrounding contract renewals.”a Chinese source to Munhwa Ilbo.
Responding to this issue, YG Entertainment once again followed up with more vague statements.
“The issue was not in the contract. It was because of BLACKPINK’s tour and Lisa’s personal schedules.”YG Entertainment.
5. BLACKPINK Jennie and Jisoo to Reportedly Set Up Their Own Agencies
A convincing update on the possible failure in BLACKPINK contract renewal further merged after rumors circulated about Jennie and Jisoo going independent.
At the end of last month, News1 exclusively reported that BLACKPINK members Jennie and Jisoo would each set up their own independent agency. The rumor sparked a further update that BLACKPINK contract renewal with YG has failed, and the group might disband.
What was YG’s response to the rumor?
Again, the company simply stated that they had confirmed nothing about BLACKPINK’s contract renewal. That is why the public was further convinced that the remaining members had no intention of extending their exclusive contract with YG.
“We haven’t confirmed anything yet about Blackpink’s contract renewal and future activities.”YG Entertainment.
6. The Skyrocketing Solo Image and Brand of BLACKPINK Members
Significantly, BLACKPINK members have consistently cultivated a strong image and brands as solo artists. Their individual brands, JENNIE, JISOO, ROSÉ, and LISA, have far exceeded the image and value of BLACKPINK as a group.
With these exceptional brand values, BLACKPINK members no longer need YG’s assistance to continue working in the global entertainment industry. Instead, it is YG Entertainment who now needs BLACKPINK members and their brand values to further improve their business.
Therefore, YG Entertainment may need to work harder in providing more appealing offers to BLACKPINK members.
7. Lisa Reportedly Carries the Whole Team in the Global Market: YG Entertainment Cannot Keep Up with Her Value
What’s most intriguing is that BLACKPINK’s Korean members Jisoo, Jennie, and Rosé may indeed possess exceptional attention in South Korea and in the fashion industry.
However, in the global general market, BLACKPINK Lisa apparently played the most crucial part in raising BLACKPINK’s brand with her first-class image and value.
Former reporter Lee Jin Ho revealed that the contract value of BLACKPINK Lisa has now reached approximately 100 billion KRW (approximately 74.4 million USD) alone. This is why YG has extreme difficulties securing another contract with Lisa: even when Kpop is now one of the most skyrocketing trends worldwide, it is almost impossible to invest such massive amounts of money into only 1 member of a Kpop group.
At the end of the day, YG simply cannot keep up with Lisa’s premium value and brand in the global general market.
Besides, Lisa has been making wild moves in her solo activities. For example, her recent performance at The Crazy Horse show was entirely opposite to her image as a Kpop idol. In fact, Lisa has been receiving massive hate from South Korean netizens, demanding her to shed her image as a Kpop idol.
After all, Kpop idols’ image is extremely essential in South Korea. Hence, it is highly likely that BLACKPINK Lisa will no longer be able to make such moves if she proceeds with contract renewal with YG.
As Lisa seems to have found her joy in performing as a solo artist, it is highly impossible that she would choose an option that limits her decisions regarding such activities.
8. Lisa Continued Her Solo Activities Without YG’s Staff
Eventually, another update that fueled the rumored failure of BLACKPINK contract renewal was when Lisa was seen leaving without YG’s staff.
Amid the contract renewal issue, the continuation of BLACKPINK Lisa’s solo activities without YG’s supervision or assistance further signaled that she may indeed leave the company.
And with her skyrocketing value and YG’s inability to keep up with her, she seemed to have no reason to stay now.
9. The Upcoming Debut of BABYMONSTER
Finally, it has been a public secret that YG Entertainment tends to quickly move between projects without official statements.
Previously, YG never provided clear statements regarding the status of its largest Kpop groups: BIGBANG and 2NE1. Instead, members of the two groups who revealed that YG abruptly and declared their inactivity as the company wished.
With the upcoming debut of YG’s new girl group, BABYMONSTER, the same thing will likely happen to BLACKPINK.
The End Date is Coming Soon: Will BLACKPINK Eventually Disband?
Considering BLACKPINK’s contract is nearing its end date later this year, will BLACKPINK eventually disband?
The answer is highly likely.
Although BLACKPINK members repeatedly showed their closeness and unity with each other, the BLACKPINK’s brand itself still belongs to YG Entertainment.
So far, YG has refrained from making clear statements to maintain the global value of BLACKPINK’s brand. This move has been repeatedly done by the company with the previous groups, BIGBANG and 2NE1. After all, just like the two previous groups, BLACKPINK is the ace that carries the whole company at the moment.
However, once they resolve their contract issues and BLACKPINK members eventually decide to leave the company, they will no longer be able to use the name BLACKPINK.
Meanwhile, former reporter Lee Jin Ho also stated that BLACKPINK members have been highlighting their existence in the global market as solo artists.
“It’s not that the members didn’t think about their activities as a whole, but they put a lot of emphasis on individual rather than group activities.”former reporter Lee Jin Ho.
Aside from being BLACKPINK members, they put a lot of emphasis on their individual image and solo activities. Examples of this emphasis were Jennie in “The Idol”, Lisa with her performance with The Crazy Horse, Jisoo being the “Queen” of DIOR, and Rosé as one of the world’s most famous fashion icons.
Therefore, as sadly as it is, there is a chance that the group BLACKPINK will eventually disband. However, the members’ close bonds will remain strong, always and forever.
So, what are your thoughts about this update and signs on BLACKPINK contract renewal? Do you think BLACKPINK will eventually disband? Please share your opinions in the comments.
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- BLACKPINK Jennie: More THE IDOL Controversy & Marvel Series Rejection!
- The TRUTH Behind BTS Jungkook and BLACKPINK Rosé Dating Rumors
- Jennie Breaks Down Crying During TALLY: What REALLY Happened?
- 6 Things to Know about Jisoo’s Solo Debut Album, ME
- 3 Alleged Reasons BLACKPINK Members Might Not Survive 7-Year Curse & Disband