Shares of K-pop agency plunge after Lisa Blackpink reportedly rejects contract renewal offer

[webfact]

 

Shares of K-pop agency YG Entertainment tumbled almost 9% on Friday after South Korean media reported that Blackpink member Lisa has rejected a contract renewal offer from the agency, reported CNBC news website.

 

The share price tumble is YG’s largest one-day drop since September 28, 2022. According to South Korean news outlet Star News, Lisa, the Thailand-born member, has rejected two offers from YG, with the size of the contract reportedly worth 50 billion South Korean won ($37.6 million). In a statement to South Korean media outlet TVReport on Friday, a YG spokesperson said the company is “discussing renewing our contract with Lisa,” according to Google Translate. “The rumor has not been officially confirmed,” the person added.

 

The CNBC said the latest development follows reports earlier in July that Lisa has “not been able to find an agreement” regarding a contract extension with the agency.

 

At the time, South Korean media outlet Newsen reported that YG responded to queries by saying that contract renewal discussions were underway, but outlet Munhwa Ilbo reported that “it is known that the difference between the two sides is quite large.”

 

Blackpink — made up of members Jisoo, Jennie and Rosé, in addition to Lisa — has been one of YG’s most successful K-pop groups. The news comes as Blackpink wraps up its “Born Pink” world tour, in what has been described as the largest world tour by a K-pop girl group, attracting an estimated 1.5 million people over 41 cities since it started in October 2022. Blackpink will hold the final two days of the tour on September 16 and 17 in Seoul. The four-member group debuted with YG in August 2016. As K-pop groups typically sign seven-year contracts, Blackpink’s contract was expected to expire in August, but the agency has not confirmed any contract renewals with any of the members.

 

Source: Thai PBS 2023-09-18

 

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[spidermike007]

Excellent. Anything that has the potential to diminish the popularity and influence of K Pop, or Pop music in general, has to be a good thing for mankind!

[hotchilli]

Robotic girl/boy groups with virtually no talent are coming to en end.. 

lets see some real talent with musicians, not dancers.

[Can samui]

Poor girl. As a show of my generosity and love for my fellow human beings I will open my home and my arms to her…poor soul.

Hope the wife doesnt mind….

[RichardColeman]

5 hours ago, webfact said:

Shares of K-pop agency YG Entertainment tumbled almost 9% on Friday after South Korean media reported that Blackpink member Lisa has rejected a contract renewal offer from the agency, reported CNBC news website.

Clever girl, she now knows her worth to the company and its share holders, expect next offer to atleast double or treble to get the share price back

[thecyclist]

The question is, is she rejecting it because she thinks 40 million is not enough for the crap she is producing, or because she is getting less than the Korean members of the band. If the latter, it would be justified. Equal pay for Equal crap. All <deleted> stinks approximately the same, except,of course,  one's own.

[ChrisY1]

3 hours ago, spidermike007 said:

Excellent. Anything that has the potential to diminish the popularity and influence of K Pop, or Pop music in general, has to be a good thing for mankind!

So 178 million K Pop fans are wrong? Who's outa step here?

[mrfill]

7 minutes ago, ChrisY1 said:

So 178 million K Pop fans are wrong? Who's outa step here?

Over 10 billion people have viewed Baby Shark. That doesn't make it the best song ever written.

Popularity is no guide to quality.

[thesetat]

1 hour ago, thecyclist said:

The question is, is she rejecting it because she thinks 40 million is not enough for the crap she is producing, or because she is getting less than the Korean members of the band. If the latter, it would be justified. Equal pay for Equal crap. All <deleted> stinks approximately the same, except,of course,  one's own.

She is rejecting it because the other members of the band are getting contracts 3 or 4 times more money then they offered her because she is Thai. 

[spidermike007]

1 hour ago, ChrisY1 said:

So 178 million K Pop fans are wrong? Who's outa step here?

Well, not to say they are wrong. But, they are buying into a pop culture corporate machine. Do they have good taste? Or, are they following trends? You be the judge. 

 

I admit I am out of step here. Willingly. Deliberately. Contemporary culture feels like it is on the decline. Is it me? Maybe. Or it may be a decent observation. 

Edited September 18, 2023 by spidermike007

[thecyclist]

1 hour ago, spidermike007 said:

Well, not to say they are wrong. But, they are buying into a pop culture corporate machine. Do they have good taste? Or, are they following trends? You be the judge. 

 

I admit I am out of step here. Willingly. Deliberately. Contemporary culture feels like it is on the decline. Is it me? Maybe. Or it may be a decent observation. 

Of course, they are following trends.

 

2 hours ago, thesetat said:

She is rejecting it because the other members of the band are getting contracts 3 or 4 times more money then they offered her because she is Thai. 

Wow, disgusting. She is absolutely right to reject this blatant racism. The whole of Sea-Asia with their millions of fans will be behind her. 

I take your word for it, but would like to know your source.