The BLACKPINK members’ decision to leave or stay in YG will create significant changes for the company and even for all of K-Pop.
Currently, rumors surrounding the contract negotiations of four BLACKPINK members with management company YG Entertainment are still the focus of attention of the K-Pop fan community . Therefore, the audience continues to discuss the possibility of BLACKPINK not renewing the contract and the impact of this decision on YG in particular and the K-Pop industry in general.
YG is not ready to break up with BLACKPINK?
BLACKPINK in TIME magazine (Photo: TIME)
Two months have passed since the 7th anniversary of BLACKPINK’s debut but YG Entertainment has not yet announced the contracts of all four members. In the case of WINNER, Big Bang or AKMU, these artists’ contracts were all announced before their 7th anniversary. The common point is that most or all members of these groups decided to stay at the company.
At this time, fans are paying attention to the two artists who did not renew their contracts, iKON and Lee Hi. Information about both contracts was announced 2-3 months after the anniversary. Thus, it can be assumed that BLACKPINK is also in a similar situation with at least 2 members planning to leave the company. Most likely, fans can only receive official information this October or next November.
In fact, the audience all realized that YG is not ready to break up with BLACKPINK at the present time. Remember when 2NE1 disbanded or Big Bang and iKON members left the group, YG still had core artists. But currently, there is no artist in the company who can compensate for the loss if BLACKPINK leaves. Although TREASURE has good revenue, its reputation is far behind other idol boy groups. “Dinosaur rookie” BABYMONSTER constantly postpones its debut and needs more time to make a profit.
Furthermore, BLACKPINK is the factor that keeps investors continuing to stick with YG. Even if the group does not disband, just one member not renewing their contract will affect the company’s reputation and finances. Many people predict that if 3 members renew, BLACKPINK’s revenue will remain at 70 – 80%. However, if less than 3 members renew, revenue can drop below 50% and this is an alarming signal for YG. Typically, rumors related to BLACKPINK not renewing the contract have caused YG stock prices to drop more than 10%.
BLACKPINK’s hiatus is an opportunity for its “juniors”
(Photo: Getty Images)
In fact, groups whose members do not renew their contracts often do not work as enthusiastically and effectively as when they were under the same company. Therefore, coordinating schedules and planning promotions for the group will be a challenge for the company. In addition, the company cannot invest too much in a group whose members have left, leading to a difference in benefits between members.
Regarding the “same group, different company” model, the most successful is probably SNSD (Girls’ Generation) with 4/8 members leaving SM Entertainment. However, it still took them 5 years to reunite on stage. Some members later encountered health difficulties due to balancing personal projects and group activities, and the shortened promotional activities still disappointed the audience. Besides SNSD, groups like GOT7, 2PM, Block B… also had the opportunity to return as groups but did not create the same resonance as before.
It took SNSD 5 years to return together on stage but promotional activities were shortened (Photo: SM Entertainment)
This general situation also opens up an opportunity for new girl groups. Groups like IVE, aespa, LE SSERAFIM, NewJeans are growing strongly not only in Korea but also around the world. Currently, BLACKPINK is still the typical female artist of K-Pop, but everything can change if group activities become ineffective due to not renewing the contract. 4th generation girl groups can fully seize the opportunity to rise and become a trend in the future.
Predict the future of members
(Photo: Adidas)
Currently, there are many predictions and rumors regarding BLACKPINK’s future. Most believe that at least one member can leave the company because the members all have a certain position in the market and are idols with their own personalities and ambitions.
During their activities, Jennie, Jisoo, Rosé and Lisa all expressed their desire to release more songs. However, the company’s constant inappropriate scheduling and prolonging the tour has affected their personal projects. After 7 years, fans still have to admit that BLACKPINK has not been able to reach its full potential. Some even say that BLACKPINK are more like influential people than idol artists.
If they leave the company, members can completely pursue their own direction. Evidence is that Jennie participated in acting in the controversial series The Idol, Lisa performed at the Crazy Horse strip club, Jisoo accepted an invitation to act in a movie and Rosé attended a meeting of musical artists. All of these activities show each member’s unique personality, different from their status as members of the group BLACKPINK.
The reality is that no matter what, the four BLACKPINK members can definitely still have successful solo careers with the reputation they have built up to now. Fans will certainly also support their idol’s decision.
