The biggest question in the Korean entertainment industry that is garnering much attention is whether the BLACKPINK members will renew their contracts with YG Entertainment.
As the period for the contract renewal for BLACKPINK members – Jisoo, Rose, Lisa, and Jennie – approaches, attention is being focused on whether the girls will choose to hold hands with YG again. The girls are in the middle of the world tour, which is their last official activity under YG Entertainment before their contract expires this year.
According to Sports World, industry officials are concerned, as many experts believe that YG will fail to renew the contracts with BLACKPINK because of the many obstacles that stand in the way of the renewal.
It appears history may be repeating itself. Looking at the history of YG Entertainment, BLACKPINK debuted in 2016, which was the year when their senior group, 2NE1, was also facing contract renewals. In that year, BLACKPINK officially debuted on August 8, and 2NE1’s team activities came to an end on November 25 of that same year. It can be seen that YG Entertainment chose to invest all its resources in the new girl group BLACKPINK at that time.
This same pattern is seen again this year. Currently, the next YG girl group Baby Monsters is being prepared to debut, with BLACKPINK’s contract expiring. Just as with BLACKPINK’s debut, Yang Hyun Suk has taken the lead as the chief producer of Baby Monsters. With seven members, Baby Monsters is expected to debut later this year.
Furthermore, BLACKPINK faces the challenge of sustaining their success in the face of the emergence of new, younger girl groups. In 2022, NewJeans, IVE, LE SSERAFIM, and other up-and-coming girl groups were quickly gaining recognition as the new generation of top K-pop girl groups.
Not only that, BLACKPINK is in a position where they do not necessarily need group activities as each member is now well-established in their position and name in the entertainment industry. Jennie, Lisa, and Rose have already established their individual influence and power through their solo albums and activities, while Jisoo has raised anticipation for her activities as an actress. As each member is already well-known in their own right, group activities are no longer a necessity.
The biggest concern is that if the group decides not to renew their contracts, the girls will no longer be able to use the team name “BLACKPINK” for their promotions, as YG owns the rights to the name. At the end of the day, the essential part is that all four members must renew their contract with YG Entertainment for this to be a meaningful contract renewal for BLACKPINK.
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