The Blackpink Contract Negotiations Are Like a Real Life K-Drama

The months-long Blackpink contract negotiations have been quite the saga, but things hit a fever pitch when the global stars started shifting South Korea’s entire economy. On November 19th, news emerged that Blackpink had agreed to continue as a group under YG Entertainment. The report subsequently raised the group’s shares by 3%. Per Korean outlet Munhwa Ilbo, individual members may not renew their contracts for solo releases, but the four members will continue their group obligations under the label while also pursuing their individual careers.

“Exclusive contracts between each member and YG Entertainment were not signed,” the report read,” adding that two members signed contracts “Agreeing to continue Blackpink’s activities.” “In the future, they plan to carry out individual activities and come together only for Blackpink activities.”

Prior, on September 21st, it was reported that shares of YG Entertainment (the record label that represents the group) have fallen over 13% amid ongoing negotiations with the four global stars. Per Korean media, the tumbling stock was largely due to reports that three of the four members will not sign new contracts with the label.

Sports Seoul reported that “multiple music industry officials” have said that, while Rosé will renew her contract with YG, Jisoo, Jennie, and Lisa will consider offers from other labels specifically for their solo career. The members of BTS recently renewed their contracts with YG competitor HYBE, so needless to say, the end of the Blackpink era would be quite the shock for the company.

Following the plummeting stocks, Reuters reported that YG has remained firm in their stance that negotiations are “ongoing” and “nothing has been confirmed.” Below, here’s everything we know about the contract negotiations between Blackpink and YG Entertainment.

Why are Blackpink’s contracts ending?

K-pop groups typically sign seven-year contracts with their labels. And since Rosé, Jisoo, Jennie, and Lisa debuted in 2016, their contracts with YG were expected to expire in August 2023.

Will the group stay together?

As of November, it looks like the group will stay together under YG Entertainment pertaining to their actvities as Blackpink. However, it appears that some, if not all members, will also have excolusive contracts that will allow them to pursue solo projects.

“Exclusive contracts between each member and YG Entertainment were not signed,” the report read,” adding that two members signed contracts “Agreeing to continue Blackpink’s activities.” “In the future, they plan to carry out individual activities and come together only for Blackpink activities.”

In July, it was alleged via Chinese social media platform Weibo that Jennie would be leaving the group.

“Jennie will not be renewing her exclusive contract with YG Entertainment,” an unidentified source wrote. “The company is still in discussions with Lisa, but [she] has intentions to leave. Rosé is confirmed to sign on with [YG subsidiary] Black Label. Jisoo will continue with YG Entertainment or sign with Black Label.”

And in a September interview with Harper’s BAZAAR Korea, Jennie said that the word that best describes her now is “Le départ” (start/leaving), which caused fans to speculate that she is in fact leaving YG.

There have also been sources alleging that Lisa turned down two offers from YG which, again, caused the company’s stock to plummet on September 15th. According to South Korean outlet Munhwa Ilbo, the Thailand-born rapper and the entertainment powerhouse had “Not been able to find an agreement” as “the difference between the two sides is quite large.”

Are there offers from other labels?

Given the global power of the four musicians, it’s no surprise that offers from entertainment companies are rolling in. According to sources, Lisa rejected two contract offers from YG totaling 50 billion South Korean won, or $37.6 million. The company went on to say that they are “Discussing renewing our contract with Lisa,” and that “the rumor has not been officially confirmed.”

While Rosé has reportedly renewed her contract, Jisoo, Jennie, and Lisa are in talks for a “separate yet together strategy,” which will allow them to spend six months of the year with Blackpink while also signing onto other labels.

Jisoo, in specific, is reportedly looking to expand her career as an actress. Though not much is known about what is actually going on behind the scenes, the crux of the negotiations seem to be about finding a balance between their group and solo projects (and also making sure that, well, the price is right).