Attention is focused on whether the BLACKPINK members will renew their contracts with YG after they expire in August.
According to the securities industry on August 3rd, considering BLACKPINK debut date (August 8th, 2016), the time to announce whether or not members have renewed their contract with YG Entertainment will be on August 8th this year.
However, considering that BLACKPINK has world tour schedules at the end of August, many analysts view the renewal of the contract as hopeful.
As it is estimated that BLACKPINK accounts for over 80% of YG’s operating profits, a securities firm even said that the company will be re-evaluated after the announcement of BLACKPINK’s contract renewal status.
Regarding this, however, an official from YG Entertainment said, “There are variables such as an early agreement, but the world tour performance has already been scheduled, so it seems that the current contract will be maintained until the end of August. BLACKPINK’s contract renewal status may be revealed after September.”
It is known that in the past, YG also announced the contract status of boy group iKON 3 months after their supposed contract expiration date.
Meanwhile, according to analyst Cha Yoo Mi, the down payment for BLACKPINK when renewing the contract may be around 1 billion to 1.5 billion won (approx. 770,000 to 1.15 million USD) for each member. This amount for BIGBANG was 1 billion won, and for TWICE was 1.2 billion won.
At the same time, nothing has been confirmed about the positions of BLACKPINK members so far.
Source: Herald Corp
