YG Entertainment shares up; Blackpink reportedly to continue as a group

INDIO, CALIFORNIA – APRIL 22: (L-R) Jisoo, Lisa, Jennie, and Rosé of BLACKPINK carry out on the Coachella Stage in the course of the 2023 Coachella Valley Music and Arts Pageant on April 22, 2023 in Indio, California. (Picture by Emma McIntyre/Getty Photographs for Coachella)

Emma Mcintyre | Getty Photographs Leisure | Getty Photographs

Shares of Ok-pop company YG Leisure climbed over 3% on Monday after South Korean media reported that woman group Blackpink has agreed to proceed group actions beneath the label.

According to an exclusive by South Korean outlet Munhwa Ilbo, particular person members won’t be renewing their unique contracts with YG however the group agreed to proceed group actions as Blackpink beneath the label.

Munhwa Ilbo mentioned “unique contracts between every member and YG Leisure weren’t signed. Sooner or later, they plan to hold out particular person actions and are available collectively just for Blackpink actions,” in line with a Google translation.

The report added that two members already signed a contract “agreeing to proceed Blackpink’s actions,” with out naming the members.

It is the newest improvement in a long-running contract saga involving the four-member group made up of members Jisoo, Jennie, Rosé, and Lisa.

In September, YG shares plunged on two events by 9% and 13% when media reports said three members of the wildly widespread woman group won’t renew their contracts with the label.

On Tuesday final week, YG said in its quarterly report that Blackpink’s contract is being negotiated, and the corporate will disclose the outcomes “later.”

Blackpink is arguably certainly one of YG’s most profitable acts, with the company claiming the group’s latest world tour attracted 2.11 million individuals world wide, spanning 66 performances in 34 cities.

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