BLACKPINK is in the middle of renegotiating their contract with YG Entertainment, and it has been dragging on for about a month now; what is taking them so long?
Fans are getting antsy and worried that the KPOP girl group might not renew their contract altogether, after all, they are the biggest girl group in South Korea, and they most certainly can set off on their own by now.
However, there is word on the street that BLACKPINK and their record and entertainment company are simply delaying the news of the contract renewal as some sort of "media play," reports say.
This theory was bolstered by Jisoo and Rose's recent live streams, wherein they celebrated BLACKPINK's 7th anniversary, but conveniently neglected to address whether they would be renewing their contract as a group.
BLACKPINK the Biggest Girl Group in KPOP
One of the possible reasons why news of BLACKPINK's contract renewal still has not surfaced is the fact that it might not even be finalized yet.
Since their last renewal, the KPOP girl group has become one of the biggest Asian acts in music history. They have made several milestones along the way as well.
It is no surprise that the girls-Jisoo, Jennie, Lisa, and Rose-want more wiggle room when it comes to choosing projects, making music, and so on.
Renegotiation also includes a bigger paycheck. According to reports, each member of BLACKPINK is rumored to receive about $1.1 million upon renewing their contract.
On top of that, they will receive 80% of the profits from the products they endorse, their music, as well as events like tours, festival appearances, and so on.
What is BLACKPINK, YG Entertainment Up To?
Every time a group faces the expiration of their contract, fans begin to worry for several reasons.
The first one is the most obvious and dreadful outcome, disbandment, in favor of solo careers. All the members of BLACKPINK have launched their solo careers.
The second reason is when a group decides to cut ties with the company and pursue a career with a different company instead; this has happened to another YG Entertainment group, iKON.
Fans are supportive of whatever the outcome may be, however, it is also obvious that the last thing they want is for the group to disband, which is why they are pushing for YG Entertainment to give BLACKPINK the best deal possible upon the renewal of the contract.
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