INDIO, CALIFORNIA – APRIL 22: Jennie, Jisoo, Lisa, and Ros é of BLACKPINK carry out at the Coachella Stage throughout the 2023 Coachella Valley Music and Arts Festival on April 22, 2023 in Indio,California (Photo by Emma McIntyre/Getty Images for Coachella)
Emma Mcintyre|Getty Images Entertainment|Getty Images
Shares of K-pop management company YG Entertainment dropped practically 7% after reports emerged that the agreement renewal for a member of lady group Blackpink remains in doubt.
YG shares traded at 73,900 Korean won at 2.41 pm KST. At this level, the stock is at its least expensive given that May 11, when it closed at 66,700 Korean won each.
According to a special report by South Korean media outlet Munhwa Ilbo, Thailand- born member Lisa has “not been able to find an agreement” relating to an agreement extension with YG Entertainment.
South Korean media outlet Newsen likewise reported that YG Entertainment reacted to questions by stating that agreement renewal conversations were underway, however Munhwa Ilbo reported that “it is known that the difference between the two sides is quite large.”
Blackpink– comprised of members Jisoo, Jennie and Ros é, in addition to Lisa– has actually been among YG Entertainment’s most effective K-pop groups.
The 4 member group debuted with YG in August2016 As K-pop groups normally sign seven-year agreements, Blackpink’s agreement is anticipated to end in August.
Citing an “industry insider,” Munhwa Ilbo likewise reported that “YG’s contract renewal process with the remaining three members of Blackpink is proceeding relatively smoothly.”
The group was the very first Asian act and K-pop lady group to heading the Coachella celebration in the U.S., and the very first K-pop band to heading a significant celebration in the U.K. at the BST Hyde Park celebration.
Blackpink likewise holds the Guinness World Record for most-viewed music channel on YouTube for a group, vanquishing U.S. pop band Maroon 5 in April.
— CNBC’s Chery Kang added to this report.
