In just seven years, BLACKPINK has skyrocketed their fanbase and became a globally acclaimed girl group. Their milestones include headlining Coachella as the first K-pop group, conquering US stadiums during their Born Pink world tour and shattering records both collectively and as solo artists. Currently, the future of Rose, Lisa, Jennie and Jisoo hangs in the balance as negotiations are still going on with their label, YG Entertainment. Traditionally, K-pop artists’ contracts last for seven years and the girl group’s contract reportedly expired on August 7. Recent reports from Munhwa Ilbo suggest the group will continue promoting together, yet individual members might not renew exclusive contracts with the agency.
Meanwhile, contrary to the reports, as per Naver, the agency released a statement claiming, “Nothing has been confirmed and discussions are ongoing.” The recent reports further suggest that, apart from Rose, the remaining three members, Lisa, Jennie and Jisoo, have opted against renewing their contracts with YG. Additionally, there are also rumours that Jennie and Jisoo might be establishing their own agency, which hints towards their solo journey.
Meanwhile, YG Entertainment in their quarterly report on November 14, stated, “As of the disclosure date, the exclusive contract with the artist is being negotiated for renewal. The final result will be announced later through the disclosure of key management matters related to investment decisions.”
This year, YG Entertainment is majorly focused on renewing BLACKPINK s contract. Despite having established numerous idol IPs (Intellectual Properties), the prominent girl group stands out as the sole active group without its dedicated IP. This unique situation might deeply impact the future of YG’s business. Hence, the company is showing a strong commitment to negotiating the renewal of BLACKPINK’s contract, ensuring a certain level of activity rather than breaking apart.
Reportedly, Lisa made an early decision to start her own journey, while other BLACKPINK members are engaged in negotiations with different companies. Despite this, some members are reportedly planning to sign individual activity contracts with YG Entertainment. According to an insider from the music industry, there are some companies proposing significant down payments like 10 billion won (approximately Rs 64 Crore) to entice these members. However, certain members are also thinking about collaborating further with YG, acknowledging the agency’s past support for the group.
Amidst ongoing discussions and controversies, Jennie recently caught everyone’s attention by acquiring a lavish property in UN Village, Seoul, South Korea. According to reports by Biz Hankook, the singer invested 5 billion KRW (approximately Rs 31 Crore) for purchasing the property with cash. Her new residence is situated in La Terrasse Hannam, which is known as a favoured location among celebrities in the country.
