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

No quitting: Bollywood's Aamir Khan wants to keep acting
2NE1 to celebrate 15th anniversary with limited-edition LP of hits
From Jungkook to Stray Kids, K-pop artistes stand strong in year-end charts
'Sonic the Hedgehog 3' review: When Sonic met John Wick
Popular Chinese actress, director Joan Chen’s past as dishwasher in US sparks lively debate online
Hong Kong IPO: Actor Roger Kwok’s Herbs Generation jumps 25% on debut
Which are the biggest guilty pleasure Christmas movies?
GOT7 to return as full group after three years
'Mufasa: The Lion King' review: Boundary-pushing prequel worthy of original film
Ringo Starr joins Paul McCartney on stage for trip down Beatles memory lane

Others Also Read