YG responds to rumors that Lisa (BlackPink) refused a "huge" contract, is SM about to lose "golden egg-laying hen" Irene?

Amid rising questions from the media and fans, YG once again spoke up about the rumor that Lisa ( BlackPink) did not renew her contract with the management company.

Previously, Korean news site Star News reported that foreign member of BlackPink - Lisa had rejected two contract extension requests from YG Entertainment, with a value said to be up to 50 billion won (about 914 billion VND).

Not letting the public wait too long, in response to the rumors that caused a stir in the online community yesterday, YG recently officially spoke up. Specifically, the company representative said: "We are still negotiating the contract extension with Lisa. The rumored information is not confirmed."

Also on September 15, Lisa just returned to Korea from her hometown of Thailand to prepare for the last 2 nights of the Born Pink tour. It is known that the concert will be held in Seoul, on September 16 and 17. Some people predict that the contract status between the 4 members of BlackPink and YG will be announced after the group's global tour ends.

Up to now, it has been more than 1 month since the contract expired (August 8, 2023), but information related to the contract extension with the famous music group BlackPink is still shared by the owner company. Keep it tightly sealed.

On the other hand, as soon as the news that Lisa might not renew her contract with YG Entertainment was widely spread by the media, the company's shares immediately lost nearly 9%, down to 73,500 won (55 USD). ) on Friday (September 15), according to CNCB. This is the sharpest decrease in YG's stock price within a day since September 28 last year. At the end of the trading session, the decrease narrowed to 3%.

In mid-July, Munhwa Ilbo newspaper reported that Lisa "could not reach an agreement" regarding contract extension. Afterwards, Newsen said YG Entertainment had responded to questions about this issue, saying that contract extension negotiations were still underway. However, Munhwa Ilbo also revealed that "the disagreement between the two sides is still quite large".

Ever since BlackPink debuted in August 2016, it has been considered one of YG's most successful groups. As a rule, Korean groups usually sign contracts with their management companies for 7 years, which means that the contracts of 4 female idols expired last month. To date, YG has not confirmed any renewal with any member of BlackPink.

Recently, this group conducted the Born Pink tour globally and attracted about 1.5 million viewers in 41 cities, including Hanoi at the end of July. Born Pink begins in October 2022. and will wrap up with two shows this week in Seoul.

In particular, BlackPink is the first Asian artist invited to perform at Coachella - one of the largest music festivals in the world, this year. They also hold the Guinness World Record for the YouTube channel with the highest number of views in the music industry.

According to July data from Touring Data - an independent box office revenue tracking platform, BlackPink's 40 nights of the world tour Born Pink World Tour achieved revenue of about 163.8 million USD, with more than 900,000 tickets sold.

Thus, on average each night, the girl group earns more than 4 million USD with about 22,600 spectators. The above numbers do not include 24 shows that have yet to be counted.

Not only Lisa, Irene (Red Velvet) also has the same contract re-signing story that has received special attention from the media. Because whether they leave or stay will greatly affect the managing company.

Unlike Twice's fans who were happy when the group decided to re-sign with JYP Entertainment with all 9 members last July, fans of BlackPink and Red Velvet were "anxious" when both groups were in Contract negotiation phase and choice between continuing or stopping.

Similar to Lisa, Irene (Red Velvet)'s renewal with SM Entertainment is also surrounded by a lot of speculation as she is about to end her contract with this company.

According to StarNews reported: "Red Velvet's case is very vague. Leader Irene may not renew her contract. Therefore, SM cannot currently decide on the time for Red Velvet's joint activities such as the album, performance or event".

Notably, many other news sites commented that Irene is a member who is very "expensive" for advertising and has many personal projects, so separating from Red Velvet is not a disadvantageous move for her. Faced with these speculations, SM Entertainment still chose to remain silent and has not made any statement.

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