K-pop talent agency YG Entertainment has renewed its deal with girl group Blackpink, allaying fan fears that they were on the verge of splitting up.
However, while the agreement assures that the group has a future, uncertainty over each member’s individual contract regarding solo projects may mean a reduction in their recording and touring activities as Blackpink.
"After careful discussions with members of Blackpink, [we] signed an exclusive contract for the group’s activities based on deep trust", said YG Entertainment in a statement this morning.
The company's last deal with Blackpink - their biggest act - expired in August. After months of negotiations, news that an agreement had finally been reached caused its share price to rise by more than 25% on the previous day. However, it remains 30% down on where it was six months ago.
The signing of the deal will be a relief for the company, which has lost a number of big name artists in recent years. However, uncertainty remains. While Blackpink have decided to stay with the YG as a group, each member is yet to sign a deal regarding their other work.
There are rumours that members will move to rivals, or even set up their own agencies, rather than continue to work with YG on their solo careers.
If that happens, then they would likely focus on their solo work, only working together as a group when all four of their schedules allow. This would obviously greatly reduce their output as Blackpink.
