Following studies of rocky contract-renewal negotiations with a number of members of Blackpink, YG Leisure has formally signed the Okay-pop woman group to a brand new deal.
YG Leisure, which additionally serves because the skilled house of Winner and Sechs Kies, only in the near past introduced the prolonged settlement with its hottest act. As of September, with solo releases from people behind different outstanding Okay-pop teams persevering with to interrupt data, three of Blackpink’s 4 members had reportedly declined a brand new contract in favor of setting out on their very own.
However earnest discussions and presumably profitable phrases had been evidently sufficient to get these artists, whose “Kill This Love” music video has cracked 1.9 billion YouTube views, to vary their tune. Moreover, regional studies have indicated that talks are ongoing as to the solo careers of Jisoo, Jennie, Lisa, and Auckland-born Rosé, who’s poised to drop a holiday-themed photograph and reward set on Friday.
(Notably, these members have to date gone forward and launched their solo efforts, most lately Jennie’s “You & Me,” by way of Blackpink’s YouTube account – undoubtedly spurring main business boosts out of the gate.)
In any occasion, YG has “signed an unique contract for the group’s actions primarily based on deep belief,” the enterprise drove house in a press release. And whereas the precise particulars of the pact haven’t been publicly revealed, YG Leisure inventory (KRX: 122870) has turned in a double-digit spike since phrase of the deal broke.
When buying and selling wrapped right this moment, YG shares had been value ₩60,300 (at the moment $45.89) apiece – up practically 26 % from a gap worth of ₩48,000 ($36.53) per share however nonetheless down considerably from the 52-week excessive of ₩97,000 ($73.82) that the inventory value briefly touched over the summer season.
Predictably, given the various billions of streams and {dollars} attributable to Okay-pop diehards, YG Leisure is hardly alone in working to broaden its market presence.
On the heels of a years-long choice and coaching course of for members, BTS company Hybe and Common Music formally debuted a U.S.-based woman group referred to as Katseye final month. November additionally introduced the launch of self-described “Okay-pop powerhouse” Titan Content material, which former SM Leisure CEO Nikki Semin Han based.
Although 2023 has additional seen Hybe efficiently re-sign BTS and Kakao Leisure rating a partnership, focusing initially on woman group Ive, with Sony Music, it hasn’t all been clean crusing for key Okay-pop gamers.
It was solely following a slightly public dispute that Exo and SM (the latter of which started the 12 months by warding off a takeover try from Hybe) appeared to place a contract-related disagreement within the rearview.
In the meantime, about six weeks after scoring a multimillion-dollar funding and teasing a brand new woman group, Attrakt in October stated it’d terminated the contracts of the three Fifty Fifty members (of 4 whole) who’d allegedly “slandered and defamed the company.”