INDIO, CALIFORNIA – APRIL 22: Jennie, Jisoo, Lisa, and Rosé of BLACKPINK execute at the Coachella Phase during the 2023 Coachella Valley Songs and Arts Competition on April 22, 2023 in Indio, California. (Photograph by Emma McIntyre/Getty Images for Coachella)
Emma Mcintyre | Getty Photos Amusement | Getty Photos
Shares of K-pop management agency YG Enjoyment dropped just about 7% following experiences emerged that the contract renewal for a member of lady group Blackpink is in question.
YG shares traded at 73,900 Korean received at 2.41pm KST. At this level, the inventory is at its cheapest considering that May perhaps 11, when it closed at 66,700 Korean won apiece.
In accordance to an exclusive report by South Korean media outlet Munhwa Ilbo, Thailand-born member Lisa has “not been able to find an settlement” concerning a contract extension with YG Amusement.
South Korean media outlet Newsen also claimed that YG Enjoyment responded to queries by stating that agreement renewal conversations were underway, but Munhwa Ilbo described that “it is regarded that the variation involving the two sides is pretty substantial.”
Blackpink — produced up of members Jisoo, Jennie and Rosé, in addition to Lisa — has been 1 of YG Entertainment’s most productive K-pop teams.
The 4 member team debuted with YG in August 2016. As K-pop groups ordinarily indicator 7-yr contracts, Blackpink’s contract is expected to expire in August.
Citing an “sector insider,” Munhwa Ilbo also noted that “YG’s deal renewal process with the remaining 3 customers of Blackpink is continuing somewhat effortlessly.”
The team was the to start with Asian act and K-pop female group to headline the Coachella competition in the U.S., and the first K-pop band to headline a big festival in the U.K. at the BST Hyde Park competition.
Blackpink also holds the Guinness Globe History for most-seen songs channel on YouTube for a group, beating out U.S. pop band Maroon 5 in April.
— CNBC’s Chery Kang contributed to this report.