BLACKPINK members officially renew their contracts with YG Entertainment; company's stock skyrockets

BLACKPINK extends their group contract with K-pop company YG Entertainment. Individual contracts for each member are still being worked out.

BLACKPINK has formally extended their contract with YG Entertainment, putting an end to all rumors and speculations about the group's possible departure. The management company for popular K-pop group BLACKPINK, YG Entertainment, made an official announcement on December 6 KST, stating that they had successfully negotiated with the members and that the group will continue to shine under the contract with their debut label.

BLACKPINK wins the night at MTV Video Music Awards in glam looks, debuts with Pink Venom performance (AP )

BLACKPINK to continue with YG Entertainment

In a statement the label backing BigBang and BABYMONSTER said "We are pleased to announce that our board of directors has successfully come to an agreement on the signing of exclusive group contracts for all four members of BLACKPINK, our talented artists." They further added “BLACKPINK will continue to do its best to shine more brightly in the world music market as an artist representing K-POP, and we will continue to give their unwavering support and faith in their actions.”

BLACKPINK exclusive contracts with YG still under consideration

Since their prior contracts expired in August, talks have been underway with YG Entertainment. Although it has been decided to carry on with group activities, individual contracts are still being negotiated with each member as per K-media sources. Apparently a few members are still considering pursuing solo careers after parting their ways with the agency but continuing as a group BLACKPINK.

YG Entertainment's stock rose 20%

Upon the news of the Pink Venom crooners making a group comeback, YG Entertainment's declining stock saw a remarkable 20% surge. Blinks flooded the internet with their excitement, celebrating them as the reigning queens of K-pop.

A fan wrote “blackpink owns them”, other said “Blackpink queens”, “bc theyre the queens of k-pop”, “BLACKPINK raising YG from death”, “BP is their only income these days."

Given that BLACKPINK has achieved one of the most successful world tours in terms of commercial records, despite ongoing negotiations for personal contracts, YG Entertainment and each member are anticipated to earn good profits from BLACKPINK's collective projects.