YG Entertainment Offers Clarification Surrounding BLACKPINK’s Contract Renewal Cost

BLACKPINK’s contract renewal with YG Leisure has been the discuss of city for a really very long time. On March 21, there have been rumors swirling round about BLACKPINK’s contract renewal with YG Leisure for his or her group actions, suggesting that the price exceeded a whopping 30 billion KRW (which interprets to about $22.5 million USD). Moreover, a netizen claimed that every member’s contract renewal alone amounted to roughly 10 billion KRW ($7.5 million USD).

In response to the swirling rumors, YG Leisure stepped ahead to supply clarification, emphasizing that the figures talked about within the rumors weren’t completely associated to BLACKPINK.

A spokesperson from the label elaborated that the reported bills lined a spectrum of actions, together with the renewal and signing of numerous mental property (IP) contracts, extending past simply BLACKPINK. Nonetheless, they selected to withhold particular particulars regarding BLACKPINK’s contract renewal and the accompanying expenditures. 

Primarily, the clarification aimed to make clear the broader context of the bills talked about, highlighting the multifaceted nature of the contracts concerned, whereas sustaining confidentiality relating to the specifics of BLACKPINK’s contractual preparations.

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As beforehand reported, BLACKPINK did renew their contracts with YG Leisure in December 2023 to proceed their group promotions, whereas their solo endeavors can be managed by separate labels. This transfer aimed to permit the members to discover particular person tasks and actions outdoors of the group whereas nonetheless being a part of BLACKPINK’s collective journey.