- According to reports, members Jisoo, Jennie and Lisa will sign with other labels, while Rosé will extend her contract with YG.
- The report comes after Lisa reportedly rejected two contract extension offers from YG last week worth a reported 50 billion South Korean won ($37.6 million).
- YG shares closed at 69,200 won, the lowest since May 11’s closing price of 66,700 won.
INDIO, CALIFORNIA – APRIL 22: (LR) BLACKPINK’s Rosé, Jennie, Jisoo and Lisa perform on the Coachella stage during the 2023 Coachella Valley Music and Arts Festival on April 22, 2023 in Indio, California. (Photo by Emma McIntyre/Getty Images for Coachella)
Emma Mcintyre | Getty Images Entertainment | Getty Images
Shares of K-pop agency YG Entertainment plunged 13.28% on Thursday after South Korean media reported that three of the four members of girl group Blackpink will not sign new contracts with the label.
The stock closed at its lowest level in nearly five months, closing at 69,200 won ($51.68) per share, the lowest since its May 11 closing price of 66,700 won.
This was reported by the South Korean magazine Sports Seoul, citing “several representatives of the music industry”: that members Jisoo, Jennie and Lisa will sign contracts with other labels, while Rosé will extend her contract with YG.
The outlet added that the three members are “in last-minute negotiations over a ‘separate yet together’ strategy” that will see them sign to other labels but spend six months of the year as part of Blackpink.
Portal reported that YG said contract negotiations were ongoing and nothing had been decided yet.
This comes after Thai-born Lisa reportedly rejected two contract extension offers from YG last week, with the deal reportedly worth 50 billion South Korean won ($37.6 million).
Blackpink concluded its “Born Pink” world tour in Seoul on September 17, marking the largest world tour by a K-pop girl group. YG stated that the tour attracted 2.11 million people around the world and included 66 performances in 34 cities.
The group was the first Asian act and K-pop girl group to headline the Coachella festival in the US, as well as the first K-pop group to headline a major festival in the UK, BST Hyde Park Festival headliner appeared.
Blackpink is also the first girl group to reach the top of the Billboard 200 and also holds the Guinness World Record for the most viewed music channel on YouTube by a group.