Will Blackpink and Red Velvet be wiped out in the K-pop entertainment industry by 2024?

While the girls of Blackpink are making many fans worry about whether they will re-sign their contract with YG or not, Red Velvet has made a move to end the contract with the management agency after their last music project. coming soon together.

Fans are increasingly worried about the future as they see popular girl groups Blackpink and Red Velvet perform together next year as the contract renewals of both groups remain uncertain and the agency Their presence remains silent.

Red Velvet, who just celebrated their 9th debut anniversary this year, has yet to confirm the contract extension news, making global fans tense.

Among the members, only information about Seulgi's renewal with SM Entertainment (SM) was reported, while the remaining members had no news. Despite the investigations, the agency has not revealed its position. Faced with this situation, a media agency reported that group leader Irene did not renew her contract, leading to speculation about whether Red Velvet can maintain a complete lineup or not.

Recently, Red Velvet changed the name of the official social network account from "Red Velvet Official" to "Happy Ending" and deleted all featured video clips.

SM explained that this change was made to fit Red Velvet's new album concept and that "HAPPY ENDING" is part of the lyrics. However, SM remained tight-lipped about the "members' contract extension" and "Red Velvet's future activities".

Besides Red Velvet, Blackpink is also being closely monitored regarding their contract renewal. Discussions about extending the members' contracts have been going on for about 4 months.

When entering the "7-year mark", many different speculations have appeared, from rumors of transferring members Lisa, Jennie, Jisoo to the establishment of a solo management company for Jennie and Jisoo.

However, even though the members' exclusive contracts expired in August, YG Entertainment continued to insist that no decision had been confirmed, only saying: " No decision has been confirmed and the Discussions are still ongoing."

Currently, Blackpink members are actively participating in many diverse activities even though the exclusive contract has expired. Jennie returned solo in October, Lisa took a bold step by appearing on the adult show "Crazy House", Jisoo confirmed her appearance in the movie "Omniscient Reader", and Rosé will debut "2024 Season's Greetings".

Previously, Sports Seoul suddenly reported that YG Entertainment failed to negotiate a contract renewal with BLACKPINK. According to this news site, only Rosé agreed to re-sign the contract with the company. All three members Jennie, Lisa and Jisoo refused to renew, even though YG Entertainment recruited them with new contracts of incredible value.

According to Kpop Starz, the rumor of Blackpink signing a contract with a major record label has "shocked" the music industry. This move makes people in the industry and the public ask the question, is this a move to escape the ties with the management company YG Entertainment?

Many people hope that the international record label can help Blackpink have more freedom to create and express their musical characteristics. Cooperating with major brands provides female idols with the necessary resources and support for their new artistic path.

However, many people are concerned that this move may cause Blackpink to suffer more commercial pressure and face a tight schedule. The new contract and new path may not follow the exact musical color that Blackpink and its members are pursuing.

Currently, the name of this record label has not been revealed. But this is important information, giving fans more basis to believe in Blackpink's future.

Also according to sources from Kbizoom, YG is likely to reveal the contract status of the members in mid-November. The reason is because this company always discloses the status of exclusive contracts related to the artists. in quarterly reports, semi-annual reports and business reports. Thus, the contracts of the four girls will likely be announced in the company's third quarter report.

In that context, fans are eagerly waiting to see whether they will continue to witness the brave activities of these two representative K-pop girl groups.

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