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BLACKPINK’s contract renewal causes panic in the BLINK community

K-Pop idols and groups renewing their contracts with their original agency are becoming rarer these days. In 2022, around 6 K-Pop groups, including TWICE, DAY6, and OH MY GIRL (except ex-member Jiho) all renewed their contracts after 7 years in the industry.

7 years is typically the set amount of time in the K-Pop group’s contracts and with the entering of the brand-new year, quite a number of K-Pop groups are currently up for negotiations with their respective agencies to make a huge decision—to continue as one whole group and renew with the agency, or to disband and for the members to pursue their own careers.

One of these groups is “the biggest girl group in the world”, BLACKPINK.

Having debuted in August 2016, the 4-member girl group is currently on their way to making their 7th year anniversary in August of this year, as well as the end of their current contract. Rumors regarding their contract renewal have been swirling around in the industry and on the Internet, which have been reported on earlier by two media channels.

On January 19, 2023, NH Investment & Securities reported that BLACKPINK will be renewing their contract with YG Entertainment. However, another report done by Munhwa Ilbo posted on January 23, 2023, says the opposite.

Munhwa Ilbo predicted in their report that it will be hard on YG Entertainment to afford all of the BLACKPINK members’ renewal fees, and that there are other agencies out there offering higher guarantees for the members. BLACKPINK’s Lisa is already rumored to have been offered 100 billion ₩ (that’s about $81 million) to switch labels.

Insiders also believe that YG Entertainment will have to offer the BLACKPINK members least 20 million ₩ each as downpayment. Ouch.

BLINKs all have their different reactions towards this news, and boy, were they just as surprised as we are. As soon as the news broke, YG Entertainment’s stocks immediately took a downward hit.

Some even compared it to football contract renewals, which…is kinda true.

What do you think? Will BLACKPINK renew their contracts with YG Entertainment, or will they leave but still have the name ‘BLACKPINK’?

Other POP! stories that you might like:

Review: BLACKPINK’s ‘Born Pink’ record appeals more to western fans

BLACKPINK’s Jisoo confirmed to make her solo debut this year

NewJeans’ Danielle and Hanni under fire for calling ‘Lunar New Year’ as ‘Chinese New Year,’ and vice versa

TWICE wants a love like a ‘MOONLIGHT SUNRISE’ in a dreamy MV for their pre-release single

People named Michael are most likely to leave 5-star reviews in the Philippines

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