Blackpink is one of the most popular and successful vocal groups in the world right now, and it seems like they are only becoming bigger and bigger with each new release. The band has been busy with contract renegotiations with their record label, YG Entertainment, for some time, but it seems one member might not be as keen to sign again as her group mates.
Now, the negotiations, which are rumored to not be going well, may be responsible for the company’s dropping stock price.
It has been reported that Blackpink singer Lisa, one of the four members of the band along with Jisoo, Jennie and Rosé, has declined several offers to renew her contract with YG Entertainment. While nothing has been confirmed, these rumors have apparently been enough to cause the company's stock price to drop noticeably.
Shares of YG Entertainment fell nearly 9% after the rumors began to swirl that Lisa might not be renewing with the firm. That dip marked the largest one-day drop in the company's stock price in a year.
If Lisa decides not to continue with the company, the future of Blackpink may be in flux. The girl group is one of the top performers at the record label, so if they split up, investors have reason to believe profits may dip and that YG Entertainment won’t be able to replace them with another global sensation quickly.
Some reports claim that YG Entertainment offered Lisa up to $40 million to renew her contract. Apparently that might not have been enough, as no deal has yet been reached, according to reports.
YG Entertainment has not officially confirmed Lisa's departure yet. A statement shared by the company states that negotiations are ongoing and that “The rumor has not been officially confirmed.”
Most K-pop groups sign contracts with record labels and management companies for seven years, after which negotiations can begin again. Many acts either don’t make it to that point, or if they do, the companies behind them don’t always want to keep them going, as the industry is often focused on what’s next. Superstar acts like Blackpink are so powerful that a firm like YG Entertainment will want to renew, but their success puts the members in a position to negotiate for more money or more creative control.
Blackpink’s last album came in 2022, when Born Pink dropped. The set gave the band their first No. 1 in the U.S. and sold incredibly well around the world. The group is currently wrapping a global trek, the Born Pink World Tour, which has broken records for a K-pop girl group. The four members of the band have also released solo collections, with Lisa’s Lalisa single album performing especially well in many markets.
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2023-09-15 14:30:54Z
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