YG Entertainment Offers Clarification Surrounding BLACKPINK’s Contract Renewal Cost
BLACKPINK’s contract renewal with YG Entertainment has been the talk of town for a very long time. On March 21, there were rumors swirling around about BLACKPINK’s contract renewal with YG Entertainment for their group activities, suggesting that the cost exceeded a whopping 30 billion KRW (which translates to about $22.5 million USD).
Additionally, a netizen claimed that each member’s contract renewal alone amounted to approximately 10 billion KRW ($7.5 million USD).
In response to the swirling rumors, YG Entertainment stepped forward to offer clarification, emphasizing that the figures mentioned in the rumors weren’t exclusively related to BLACKPINK.
A spokesperson from the label elaborated that the reported expenses covered a spectrum of activities, including the renewal and signing of diverse intellectual property (IP) contracts, extending beyond just BLACKPINK. However, they chose to withhold specific details concerning BLACKPINK’s contract renewal and the accompanying expenditures.
Essentially, the clarification aimed to shed light on the broader context of the expenses mentioned, highlighting the multifaceted nature of the contracts involved, while maintaining confidentiality regarding the specifics of BLACKPINK’s contractual arrangements.
As previously reported, BLACKPINK did renew their contracts with YG Entertainment in December 2023 to continue their group promotions, while their solo endeavors would be managed by separate labels. This move aimed to allow the members to explore individual projects and activities outside of the group while still being part of BLACKPINK’s collective journey.
