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YG Entertainment shuts down rumors about BLACKPINK’s 41 billion KRW down payment for contract renewal
YG Entertainment has come out to speak on the rumors regarding BLACKPINK’s contract renewal and they denied increasing their fee to a significant amount.
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YG Entertainment denies paying BLACKPINK 41 billion won
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BLACKPINK group and solo activities
YG Entertainment has denied all speculations that claim they have not increased BLACKPINK’s fee to 41 million KRW for their contract renewal. The rumors stemmed from the company's financial report, which was revealed a few days ago, where they made a hefty down payment. The netizens concluded that the payment was made to the girl group for their contract renewal.
YG Entertainment denies paying BLACKPINK 41 billion won
On March 22, 2024, YG denied reports stating that they had made a downpayment of 41 billion won to BLACKPINK. Discussions for the group’s contract renewal have been going on since last year which led to the rise of a lot of rumors. The newest speculation that dropped was the agency increased the group’s fee to a certain amount and has already made the downpayment.
On March 21, 2024, YG Entertainment released its financial report, which states that it made a downpayment of 41 million won to acquire a certain group. During the signing of an exclusive contract with a particular artist, an amount is paid to seal the deal. Moreover, the company had not signed any new artists in 2023, and everything indicated that the amount was paid to BLACKPINK. BABYMONSTER did not fall under this category, as they had already planned to debut for a long time.
The news started going around, and netizens concluded that BLACKPINK was the artist for whom YG paid that amount. However, the agency has explicitly denied the claims and states that the amount was not paid to BLACKPINK alone, and the expense included many other contract renewals. Although they could not reveal information about the group’s contract renewal, they can confirm this particular news.
BLACKPINK group and solo activities
BLACKPINK released their second studio album, Born Pink, alongside the hit single Shut Down on September 16, 2022. After the release, the group went on the Born Pink World Tour, starting in Seoul on October 15, 2022. Currently, the members have been focusing on their solo endeavors and few of the members have established their own agencies.
Jisoo’s established her agency, Blisoo. Lisa also announced that she will carry on her individual activities from her own company named Lloud, and Jennie revealed her own company, Odd Atelier. Rosé remains the only member who has not announced her solo future plans yet. The four members will carry on their group activities under YG Entertainment.
Watch Shut Down music video
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