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HomeNewsBlackpink renews contracts with YG, Okay-pop company shares spike 29%

Blackpink renews contracts with YG, Okay-pop company shares spike 29%


LONDON, ENGLAND – NOVEMBER 22: (left to proper) Lisa (Lalisa Manoban), Rose (Roseanne Park), Jisoo Kim and Jennie Kim, from the Okay-Pop band Blackpink pose with their Honorary MBEs (Members of the Order of the British Empire), awarded to them in recognition of the band’s function as COP26 advocates for the COP26 Summit in Glasgow 2021 on November 22, 2023 in London, England. King Charles III carried out the particular Investiture ceremony within the presence of the President of South Korea, Yoon Suk Yeol, and his spouse, Kim Keon Hee. (Photograph by Victoria Jones – Pool/Getty Pictures)

Pool | Getty Pictures Leisure | Getty Pictures

Shares of Okay-pop company YG Leisure spiked as a lot as 29% after the corporate introduced that it has renewed unique group contracts with all 4 members of lady group Blackpink.

The inventory closed at 48,000 South Korean received ($36.58) per share on Tuesday, close to its 2023 low of 47,000 received. However on Wednesday, it surged on the open and hit an intraday excessive of 61,900 South Korean received per share.

This might deliver an finish to the lengthy operating contract saga between the favored Okay-pop group and the company. The drama took YG shares on a wild journey alongside the rumored ups and downs in contract negotiations.

The phrases of the brand new deal weren’t instantly clear and the announcement didn’t specify whether or not the members renewed their contracts on a person foundation.

In late November, South Korean outlet Munhwa Ilbo reported that members wouldn’t renew their unique particular person contracts with YG, however as a substitute proceed group actions as Blackpink underneath the label.

Munhwa Ilbo reported then that “unique contracts between every member and YG Leisure weren’t signed. Sooner or later, they plan to hold out particular person actions and are available collectively just for Blackpink actions.”

Shares of YG beforehand plunged every time South Korean media reported that members of the group won’t renew with the label.

Blackpink is arguably one in all YG’s most profitable acts. The corporate mentioned the group’s current world tour attracted 2.11 million individuals around the globe, spanning 66 performances in 34 cities.

Most lately, the four-member group grew to become the primary Okay-pop group and the primary non-British musicians to obtain honorary Member of the Order of the British Empire medals from British monarch King Charles III on Nov. 22, in recognition of their advocacy on the COP26 local weather talks in Glasgow in 2021.

The group was additionally the primary Asian act and Okay-pop lady group to headline the Coachella pageant within the U.S. and the first Okay-pop group to headline a significant pageant within the U.Okay. on the BST Hyde Park pageant.

Blackpink holds the Guinness World File for most-viewed music channel on YouTube for a gaggle.

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