BLACKPINK Received This Whopping Amount For Renewing Contract With YG Entertainment

BLACKPINK was in the headlines all through the end of last year for their contract renewal with their agency YG Entertainment. While the group relieved their fans by signing the contract thereby putting a rest to disbandment rumours, the quartet went out of the company for their individual projects. 

Jennie and Lisa established their own company and Jisoo signed with her brother’s company for their individual activities. Now, the rumours claim that YG paid a humongous amount to BLACKPINK for their group contract renewal. 

BLACKPINK paid in billions wons for contract renewal

YG Entertainment disclosed in its financial report, which was made public on March 21, 2024, that it had paid 41 billion KRW (approximately Rs 250 crores) won to acquire a certain group. When an artist is required to sign an exclusive contract with the corporation, the company pays them a specific amount for working with them. 

Industry sources and fans are certain that this money has been given to BLACKPINK as other than the notable contract extension of the group, YG's artist roster only saw the arrival of BABYMONSTER last year. Since there have been no other documented re-signings or new artist signings outside of BLACKPINK, it is estimated that each member of the group may have gotten up to about 10 billion KRW (approximately Rs 63.5 crores) each. 

Why did BLACKPINK not renew their contract for solo activities?

In December last year, YG Entertainment officially announced that Lisa, Jennie, Rose, and Jisoo would not renew their contracts or extend their individual contracts for solo projects under the label. However, they renewed their group contract with the agency. 

The statement read, "Hello, this is YG Entertainment. BLACKPINK recently renewed their contracts with YG for their group activities, and we have agreed not to proceed with additional contracts for [the members’] individual activities. We will do our utmost to support BLACKPINK’s activities, and we will cheer on the members’ individual activities with warm hearts. Thank you."