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YG Entertainment said on November 14, 2023, that the decision to extend contracts with BLACKPINK members Jennie, Rosé, Lisa, and Jisoo will be released later. It was also the same day when the music and artist management company released its quarterly report.
Discussions for a new exclusive deal with the artists are ongoing, according to the statement given by YG Entertainment in this quarterly report. Furthermore, the company also said the ultimate outcomes will be made public through later revelations of important management issues pertaining to choices regarding investments. YG Entertainment said,
"As of the disclosure date, negotiations for a new exclusive contract with the artists are in progress. The final results will be announced through subsequent disclosures of key management matters related to investment decisions."
This has further increased the frustrations and disappointment among the BLINKS (BLACKPINK fandom) as a fan expressed their views and wrote, "How much longer?"
The speculations of BLACKPINK members departing from the company started in early August 2023. Hence fans are shocked by this formal declaration by YG Entertainment about the current status of contract renewal discussions with the group members which is devoid of clarity.
"We are never gonna get the news": Fans express their frustration over the delay in the final announcement of BLACKPINK's contract status
Rumors have circulated that three members of BLACKPINK—Jisoo, Jennie, and Lisa—apart from Rosé, have chosen not to extend their contracts with YG Entertainment. According to Daily Sports Seoul, there have also been speculations that Jennie and Jisoo plan to start their own independent solo businesses.
BLACKPINK debuted on August 16, 2016, under the corporation, and their seven-year contract came to an end in August 2023. Since then, the management company has continuously postponed announcing whether or not the members of the widely popular group will tender their contract renewal. The uncertainty of the group contract renewal has further increased investor concerns leading to a stock price drop of 16% in September 2023.
A 16.3% stock market meltdown occurred as a result of suspicions that the contracts of the BLACKPINK members had not yet been extended with YG Entertainment. Following a flurry of articles from South Korean media outlets such as Daily Sports Seoul, the share price of the music firm decreased by 13.3% on Thursday, September 21, 2023, and was lowered by 4.1% on Friday, September 22, 2023.
Meanwhile, fans expressed their views regarding the November 14, 2023, statement by YG Entertainment. Here are some reactions from the fans:
On September 24, 2023, Lisa from BLACKPINK was observed arriving at Seoul's Incheon International Airport by herself, devoid of any YG Entertainment personnel. She left privately, without letting her fans or the media know that she had departed for Paris, yet fans noticed and clips of the departure surfaced on social media. After that, Lisa was spotted in Paris accompanied by a small squad of security guards prior to her performance at the Crazy Horse.
In the latest news, Lisa's manager, Alice Kang, on LinkedIn shared her career update which made fans speculate that the idol may be leaving her long-time agency, YG Entertainment. On November 14, BLINKs discovered through an update on Alice's LinkedIn profile that her former manager at YG Entertainment had left the management in October 2023.
Meanwhile, Jennie has also applied to trademark 'Jennie Ruby Jane' in ten categories in Korea Intellectual Property Rights Information Service (KIPRIS), further fanning the speculations.
