BLACKPINK contract renewal in jeopardy? What it means for Jisoo, Jennie, Rose, Lisa

BLACKPINK concluded the Born Pink world tour earlier this month before their contract expires with YG Entertainment. Fans are now waiting with bated breath for the news of their contract renewal, which will guarantee the ongoing activities of the quartet. However, the label seems to be facing several roadblocks in its quest to re-sign all four members of the girl group. 

3 things you need to know 

• BLACKPINK was formed in 2016 under YG Entertainment. 
• Jennie hinted at leaving the group in an interview in September.
• Lisa's contract renewal negotiations have not yielded the desired results for the stakeholders.

BLACKPINK negotiate their contract  

K-pop labels often sign seven-year contracts with their groups and BLACKPINK will be done with their contract with YG Entertainment at the end of this year. While no official announcement has been made yet, speculations around their disbandment have been floating around for weeks now. As all four members of the group are popular and relevant in their own way, people don’t see a need for them to be tied up with a group when they can be equally successful and get more freedom by parting ways. 

It remains to be seen if the band will stay intact or split up to pursue solo projects. Jennie was rumored to be quitting the group in July, as per reports on the Chinese social media platform Weibo. In a September interview with Harper's BAZAAR Korea, Jennie stated that the term that most represents her right now is "Le départ" (start/leave), leading fans to suspect that she is quitting YG.

(BLACKPINK consists of Jisoo, Jennie, Rose and Lisa | Image: YG Entertainment)

Where BLACKPINK members stand now? 

According to several media reports, Lisa had rejected a sizeable contract renewal offer from YG Entertainment after months of discussions. Reportedly, the rapper was offered a $40 million contract for extension. Media reports claim that the idol has signed many multi-million dollar contracts with international record labels, some of which are from Thailand.

According to sources, only Rose's contract has been renewed, while the other three members, Jisoo, Jennie and Lisa, will be moving on to other agencies. A blind article claimed that Rose has "too much stuff that she can be blackmailed for by her bosses" and that is the reason she is extending her contract with YG Entertainment.

(BLACKPINK has been together for the last 7 years | Image: YG Entertainment)

Earlier in the day, News1 reported that Jennie and Jisoo were laying the groundwork for their own agencies. They will very certainly join them after their contract with YG Entertainment expires. It was also claimed that talks are on to allow the members to participate in group activities for at least six months each year. Meanwhile, the individual work commitments of the artists will be handled by their own agencies.

YG Entertainment in defence mode

While responding to the rumours of Lisa rejecting their renewal offer, YG Entertainment said in a statement, “We are still discussing contract renewals with Lisa. The rumors that are going around are nothing that is confirmed." Earlier today, the label also denied the news of Jennie and Jisso establishing their own company. They said in a statement, “Nothing has been confirmed regarding BLACKPINK’s contract renewals and their future activities.”

Aftermath of BLACKPINK disbandment 

YG Entertainment’s hesitation in revealing its position also comes from the fact that currently the company's flagship groups BIGBANG and iKON are gone and WINNER members are in the military. 

(BLACKPINK is currently the only flagship group of YG Entertainment | Image: Instagram)

TREASURE is on the rise every year, but it is still a rookie band. BABYMONSTER’s (another girl group formed by YG) debut has been postponed. Only BLACKPINK is responsible for the company's growth, which has earned more than 350 billion won from its world tour. 

In the midst of this, if YG Entertainment  fails to get BLACKPINK to renew its contract, it will be hit hard. In fact, the agency’s stock prices fell from the 15th to the 22nd spot as it became uncertain whether BLACKPINK members would renew their contracts.