Blackpink members renew contract, boosting shares in label YG Entertainment


By AGENCY

Last month, Blackpink received honours from Britain's King Charles III for its work in raising awareness about climate change. Photo: Reuters

South Korea's YG Entertainment Inc said on Wednesday that all four members of South Korean K-pop girl group Blackpink have renewed their contracts with the label, sending shares of the company up by nearly a third.

For months, there has been speculation that some members of Blackpink would not renew their contracts with the label, putting pressure on its shares.

"With strong trust, we signed an exclusive contract for group activities after having serious discussions with Blackpink," YG Entertainment said in a statement.

The label was still in talks with the group regarding an exclusive contract for solo activities, a YG Entertainment official told Reuters.

YG Entertainment's shares rose as much as 29% to 61,900 won (US$47.16), trading at a more than a three-week high after the announcement.

Shares in other major South Korean entertainment labels also rallied - HYBE Co, the label behind K-Pop group BTS, jumped 7.3%, JYP Entertainment Corp rose 5.7%, and SM Entertainment was up 5.2% in morning trade.

Blackpink set a Guinness record earlier this year for having the most-viewed music channel on YouTube, which now boasts over 90 million subscribers.

Last month, Blackpink received honours from Britain's King Charles III for its work in raising awareness about climate change.

The group embarked on a worldwide Born Pink World Tour in October last year which came to a close in September, performing more than 60 shows across the world. – Reuters

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Entertainment

HK superstar Aaron Kwok denied entry to racecourse for wearing polo shirt instead of suit
How Seunghan's exit from boy band Riize highlights the peril of K-pop's global appeal
2 years after his public split with Shakira, Gerard Pique finally breaks his silence
Thai fans demand apology from Hybe for allegedly disparaging Blackpink’s Lisa
Malaysian actress Angeline Tan stars in new short film competing at Singapore Film Festival
Taylor Swift's boyfriend Travis Kelce has sex advice for men going through dry spells
Stutter that 'propelled' Bruce Willis into acting also masked his dementia, his wife says
Nvidia chief Jensen Huang, film star Tony Leung to get honorary doctorates in Hong Kong
Yusof Haslam advises husbands to practise coaxing their wives, says it's not a sign of surrender
Jamal Abdillah, 65, laughs off fan flirtations; focuses on pregnant wife, 28, and 7 kids: 'I’m old already'

Others Also Read