LONDON, ENGLAND – NOVEMBER 22: (still left to proper) Lisa (Lalisa Manoban), Rose (Roseanne Park), Jisoo Kim and Jennie Kim, from the K-Pop band Blackpink pose with their Honorary MBEs (Customers of the Get of the British Empire), awarded to them in recognition of the band’s role as COP26 advocates for the COP26 Summit in Glasgow 2021 on November 22, 2023 in London, England. King Charles III done the distinctive Investiture ceremony in the existence of the President of South Korea, Yoon Suk Yeol, and his spouse, Kim Keon Hee. (Photograph by Victoria Jones – Pool/Getty Pictures)
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Shares of K-pop agency YG Leisure spiked as much as 29% right after the corporation announced that it has renewed exceptional group contracts with all 4 associates of lady team Blackpink.
The inventory shut at 48,000 South Korean won ($36.58) for every share on Tuesday, around its 2023 lower of 47,000 gained. But on Wednesday, it surged at the open up and strike an intraday substantial of 61,900 South Korean gained for each share.
This could carry an end to the long operating contract saga between the well known K-pop team and the agency. The drama took YG shares on a wild ride alongside the rumored ups and downs in contract negotiations.
The conditions of the new deal ended up not right away clear and the announcement did not specify whether or not the users renewed their contracts on an person basis.
In late November, South Korean outlet Munhwa Ilbo described that members would not renew their exceptional particular person contracts with YG, but instead proceed team activities as Blackpink underneath the label.
Munhwa Ilbo documented then that “special contracts between just about every member and YG Leisure have been not signed. In the foreseeable future, they plan to carry out individual activities and appear with each other only for Blackpink routines.”
Shares of YG earlier plunged each and every time South Korean media claimed that associates of the team will not renew with the label.
Blackpink is arguably just one of YG’s most effective acts. The firm mentioned the group’s current world tour attracted 2.11 million men and women about the world, spanning 66 performances in 34 towns.
Most not too long ago, the four-member team grew to become the 1st K-pop team and the to start with non-British musicians to get honorary Member of the Order of the British Empire medals from British monarch King Charles III on Nov. 22, in recognition of their advocacy at the COP26 local climate talks in Glasgow in 2021.
The group was also the first Asian act and K-pop girl team to headline the Coachella pageant in the U.S. and the first K-pop team to headline a significant festival in the U.K. at the BST Hyde Park pageant.
Blackpink also holds the Guinness Globe Record for most-seen audio channel on YouTube for a team.