Blackpink is one of the most popular and successful vocal groups in the world right now, and they seem to be getting bigger and bigger with every new release. The group has been busy renegotiating their contract with their label YG Entertainment for some time, but it seems one of the members isn’t as keen on signing a new contract as her bandmates.
Now the negotiations, which are rumored to be going wrong, could cause the company’s stock price to fall.
Blackpink singer Lisa, one of the four members of the group along with Jisoo, Jennie and Rosé, has reportedly turned down several offers to renew her contract with YG Entertainment. While nothing has been confirmed, these rumors were apparently enough to cause the company’s stock price to drop noticeably.
Shares of YG Entertainment fell nearly 9% after rumors began to circulate that Lisa might not renew her contract with the firm. The drop marked the biggest one-day drop in the company’s stock price in a year.
If Lisa decides not to continue with the company, Blackpink’s future could change. The girl group is one of the record label’s most successful, so if they split up, investors have reason to believe profits could fall and that YG Entertainment won’t be able to quickly replace them with another global sensation.
Some reports claim that YG Entertainment offered Lisa up to $40 million to renew her contract. This might not be enough as a deal has yet to be reached, according to reports.
YG Entertainment has not yet officially confirmed Lisa’s departure. The company said in a statement that negotiations were ongoing and that “the rumor has not been officially confirmed.”
Most K-pop groups sign deals with record labels and management companies for seven years, after which negotiations can begin again. Many projects either don’t get to this point, or if they do, the companies behind them aren’t always willing to support them, as the industry is often focused on what’s next. Superstar groups like Blackpink are so powerful that a firm like YG Entertainment will want to renew their membership, but their success gives members the power to negotiate for more money or more creative control.
Blackpink’s last album was released in 2022 when Born Pink fallen. The set scored the band’s first number one hit in the US and sold incredibly well around the world. The group is currently wrapping up their global Born Pink World Tour, which broke K-pop girl group records. Four members of the group also released solo collections, including Lisa’s album. Lalisa the single album performed particularly well in many markets.