“I hope this is real”: BLACKPINK Jennie and Jisoo allegedly establishing their own agencies leaves the internet divided

BLACKPINK Jennie and Jisoo are reportedly leaving YG Entertainment to establish their own agencies, as per News 1. On September 25, 2023, the Korean news outlet published a report regarding the latest developments in the ongoing speculations about the BLACKPINK members' contract renewal stance with YG Entertainment.

According to a NEWS1 report, Jennie and Jisoo's respective management companies would be in charge of the BLACKPINK stars' individual endeavors, with the ladies working with their old management company for only six months a year to market the group as a whole.

Additionally, YG Entertainment said in its official statement to NEWS1 that the discussions between the company and the girls regarding group activities are still going on.

“There is nothing confirmed regarding the contract renewal and future activities for BLACKPINK.”

Since their contract with YG Entertainment was renewed, the hugely successful girl group has been drawing a lot of attention. There are several rumors floating about, such as Lisa declining a $37.7 million (50 billion KRW) deal from YG, Jisoo signing with another Korean agency, and more. The veracity of any of these suppositions, however, cannot be determined with assurance.

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“I say Karma”: Fans share their opinion on the matter as majority of the fandom backs BLACKPINK members’ decision to leave

The group's decision to part ways with the Korean record company has been met with unanimity among its fans, which is not surprising. The fact that the ladies have just almost 30 songs to their name in a space of seven years after having debuted in 2016 and becoming a global phenomenon has infuriated the fans to the hilt.

In spite of all the rumors, the bulk of BLINKS have gathered to show their support for the girls' choices. While some contend that "YG is nothing without them" and even came up with fictitious names for Jisoo and Jennie's businesses, others believe that BLACKPINK will continue to exist as a unit even if the members of the group split up.

However, according to reports from Seoul Sports, Rosé has apparently extended her exclusive deal with YG Entertainment. Additionally, on September 24, Lisa's Instagram post with the caption "You're not invited" fueled even more suspicions about the artist leaving the record label where she made her debut.

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YG Entertainment’s stock prices dropped by 16% due to the speculation surrounding BLACKPINK's contracts

As reported by Billboard on September 21, 2023, due to the speculations of the girls leaving the company, YG Entertainment’s stock prices have plummeted up to 16% (77,600 KRW), pushing them behind its rival brands—JYP Entertainment and SM Entertainment—and making the investors extremely worried. It further dropped to 64,600 KRW as of September 25, 2023.

Naturally, YG finds it challenging to publicly state its views since the company's two major idol groups, BIGBANG and iKON, have left as well, while members of WINNER are serving in the military at the moment. Although another group, TREASURE, has gained popularity, they are still a rookie group, and the debut of the new girl group, BABYMONSTER, has been postponed.

Moreover, YG has profited more than 350 billion KRW ($265 million) from their BORN PINK world tour thanks to BLACKPINK's global influence. Needless to say, the company will suffer massively if the girl group refuses to extend their contract this time.

Featuring (L-R) Lisa, Jisoo, Rosé, and Jennie from BORN PINK world tour 2023. (Image via @BLACKPINK /Twitter)

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The group's BORN PINK World Tour 2023 garnered a staggering 2.115 million concert-goers, including Coachella and Hyde Park. The girl group also became the first Asian act to headline Coachella, as they gave a symbolic performance as the festival's main highlight.