BLACKPINK was preempted by YG, claiming there was no way to spend hundreds of billions to re-sign the contract

Thanh PhúcMar 26, 2024 at 15:31

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Recently, YG Entertainment - the management unit of Korea's top music group - just announced that there is no way to spend hundreds of billions to re-sign contracts with 4 girls. The rumors that have been spreading recently are all false.

On March 21, rumors began to spread that the cost of renewing Blackpink's contract with YG Entertainment for their group activities was over 30 billion won (22.5 million USD).

A netizen also accused the company of extending the contract with the g.irl group for about 10 billion won (7.5 million USD, equivalent to about 187 billion VND) for each member.

BLACKPINK was preempted by YG, claiming there was no way to spend hundreds of billions to re-sign the contract - Photo 1

In response, YG Entertainment explained that the numbers mentioned were not specific to Blackpink. According to a representative of the company, this unit has extended and signed an additional IP contract, and all fees are included in the expense report.

However, they did not r.eveal details about Blackpink's contract or related costs.

Previously, Blackpink renewed their promotion contract as a group with YG Entertainment in December 2023, while their solo promotional activities will take place under their own labels (ie the 4 Blackpink girls will have full rights). solo activities without depending on YG management company).

BLACKPINK was preempted by YG, claiming there was no way to spend hundreds of billions to re-sign the contract - Photo 2

Currently, 3 members of the Blackpink group have announced the establishment of their own company and new musical and artistic directions. As for member Rosé, it is expected that the company name will be announced in the near future.

Previously, YG Entertainment's business report was published by the Financial Supervisory Authority. This report reveals the types of assets the company holds, and also announces the expenses they spend in 2023. Based on this report, the online community has found out the expenses that YG Entertainment must pay to extend the contract for BLACKPINK's group activities in the future.

BLACKPINK was preempted by YG, claiming there was no way to spend hundreds of billions to re-sign the contract - Photo 3

Specifically, a cost of 41.185 billion won (30.8 million USD) was paid in advance in 2023. Considering the previous payment, netizens speculate that this amount is most likely related to the contract extension. of BLACKPINK rather than the new agreement with rookie group BABYMONSTER. Thus, it is estimated that YG will have to pay each group member 7.5 million USD to extend the group contract. Meanwhile, the company failed to convince the members to re-sign their individual contracts.

Immediately after the information was posted, KPop music lovers were buzzing about the contract value of this g.irl group. Many people believe that with the explosion of 4 girls globally, being paid only 7.5 million USD each is too little.

BLACKPINK was preempted by YG, claiming there was no way to spend hundreds of billions to re-sign the contract - Photo 4

The reality is that YG is not the only company hunting for BLACKPINK, many other companies around the world are willing to spend huge amounts of m.oney to get exclusive individual contracts with the 4 members.

Equal reputation, each member can easily develop their personal career. After ending the Born Pink World Tour , YG announced the news that BLACKPINK re-signed the group contract. Up to now, the 4 girls have continuously "exploded" their individual jobs, with no signs of getting back together. With the deposit amount certainly being huge, fans are somewhat more assured in the possibility of BLACKPINK's comeback.

BLACKPINK was preempted by YG, claiming there was no way to spend hundreds of billions to re-sign the contract - Photo 5

It can be seen that YG is really trying, not afraid to spend a fortune to "retain" the global g.irl group. People wonder how much profit BLACKPINK had to make before the company agreed to spend hundreds of billions to extend the contract. Even after debuting as rookie BABYMONSTER, BLACKPINK is still YG's "golden egg-laying hen" that is difficult to replace, all information related to the 4 girls affects the stock value.

BLACKPINK was preempted by YG, claiming there was no way to spend hundreds of billions to re-sign the contract - Photo 6

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