YG Entertainment has refuted rumors regarding the speculated cost of BLACKPINK’s contract renewal. On March 21, speculations surfaced suggesting that the renewal fee for BLACKPINK’s contract with YG Entertainment surpassed 30 billion KRW ($22.5 million USD).
Additionally, a netizen claimed that the label had renegotiated the contracts for each member of the girl group for approximately 10 billion KRW ($7.5 million USD).
In response, YG Entertainment clarified that the mentioned figures were not solely allocated to BLACKPINK.
A representative from the label stated that the agency had renewed and inked several intellectual property (IP) contracts, and the total fees were encompassed in the financial reports. However, specific details regarding BLACKPINK’s contract or its costs were not disclosed.
As previously disclosed, BLACKPINK extended their group promotion contracts with YG Entertainment in December 2023, while their individual endeavors will be managed by different labels.
