By Olivia Harrison
Staff Writer
Korean pop idol and entertainment agency YG’s stocks plummeted by 13.8% after South Korean media reported that three members of BLACKPINK will not be renewing their contracts with YG, according to CNBC. Jennie, Jisoo and Lisa will not be renewing their contracts while Rosé will be renewing with YG Entertainment.
BLACKPINK debuted on Aug. 7, 2016, quickly rising to fame. The four-person girl group consists of international idols Jennie, Rosé, Jisoo and Lisa. Over the course of their seven years as a group, they released two studio albums, three EPs, one reissue, one compilation album, four live albums, twelve singles and four promotional singles in total.
The contracts were signed in August of 2016, and many fans (known as Blinks) and netizens are wondering what the next steps are for BLACKPINK and YG entertainment. While seven years seems like a short while, it is not uncommon for K-pop groups to only sign contracts for this duration. Known as the “Seven Year Curse,” most K-pop groups tend to disband after seven years of activity. This can lead to entertainment companies tanking in both stock shares and revenue.
CNBC reported that, on Sept. 21, YG’s stock plummeted to $51.68 per share, which is the lowest it has been since May 11. Currently, Jennie, Jisoo and Lisa are meeting with agents and discussing where to sign. The three girls are also negotiating whether they stay together or go their separate ways. According to YG, Lisa declined a contract totaling $37.6 million.
The news comes right after the group concluded their Born Pink Tour at the Gocheok Sky Dome in Seoul, South Korea. The tour started in Oct. 2022 and commenced on Sept. 17 of this year.
The group visited 34 cities and had 66 performances all around the world. One of the performances that had the highest attendance was in East Rutherford, N.J., with about 82,500 people in total. BLACKPINK celebrated seven years together as a group on Aug. 11 with fans at their East Rutherford concert.
The tour made YG Entertainment and the girls about $163.8 million dollars. Additionally, BLACKPINK was the first Asian/AAPI act and K-pop group to headline Coachella. Their third album, “Born Pink,” debuted atop the Billboard 200 Albums chart, marking the first chart topper by an all-female group in over a decade.
BLACKPINK also holds the Guiness World Record for “Most Viewed Music Group” on Youtube. Next to BTS, they are one of the world’s most well-known K-pop groups.
With the contract negotiations ongoing, the fate of BLACKPINK is unknown at this time. BLACKPINK has been an important part of YG entertainment, and with information and rumors circulating, fans are hoping for clarity with the situation.
Unfortunately, the lack of information is contributing to the rapid fall in stock shares. Whether or not BLACKPINK and YG Entertainment survive the “seven-year curse,” there is still hope that the group’s popularity will help smooth out potential contract conflicts.
