YG Leisure Clarifies Rumor About BLACKPINK’s $31M Contract Renewal Down Fee TERMAN WEBSITE

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Following reviews that YG paid BLACKPINK a whopping quantity of $31M to resume their group contracts, the label clarified claims by saying THIS.

A monetary report of YG has been spreading on-line, containing the property and bills that they had in 2023. Seeing this, netizens deduced that the label more than likely paid the quartet – Jisoo, Jennie, Rosé, and Lisa $7.5 million as a down cost for them to resume their contract as a gaggle.

In mild of this, YG Leisure launched its official facet.

Okay-Netz Declare YG Paid BLACKPINK $31M to Renew Group Contracts

YG Entertainment Clarifies Rumor About BLACKPINK's $31M Contract Renewal Down Payment
(Photograph : BLACKPINK (Maeil Enterprise Newspaper))

Particularly, this hypothesis sparked when the Monetary Supervisory Service launched the enterprise report for YG Leisure on March 21.

On this report, the full quantity that YG label acquired for renewing contracts prices 41.185 billion KRW (30.9 million USD).

This advance cost (down cost) was made in 2023 and searching again on final 12 months, YG has no vital recruitment except for BLACKPINK who renewed their group contracts and its new agreements with its rookie artist, BABYMONSTER.

YG Entertainment Clarifies Rumor About BLACKPINK's $31M Contract Renewal Down Payment
YG Leisure Clarifies Rumor About BLACKPINK’s $31M Contract Renewal Down Fee
(Photograph : Maeil Enterprise Newspaper)

ALSO READ: BLACKPINK Comeback Timeline Revealed- ‘Mega’ Comeback in 2024? 

In December 2023, YG Leisure signed a gaggle unique contract with the quartet and it’s interpreted that a lot of the down cost quantities exceeding $30M had been spent for BLACKPINK alone.

YG Responds to Rumor About BLACKPINK’s Contract Renewal Down Fee

When these claims circulated on-line and had been additionally picked up by the Korean media, YG made its assertion about this and clarified:

“Final 12 months, there have been renewals and new contracts for a number of IPs as effectively, not just for BLACKPINK. We can’t disclose all the main points of the contract, however the quantity (41.2 billion KRW) can’t be seen as a down cost just for BLACKPINK.”

YG Entertainment Clarifies Rumor About BLACKPINK's $31M Contract Renewal Down Payment
(Photograph : yg leisure brand (Enterprise Submit))

As a follow-up data, the media then additional claimed that at most, BLACKPINK might need acquired 10 billion KRW ($7.5M) every.

Maeil Enterprise Newspaper speculated:

“Contemplating the scale of the unique contract price of roughly 41.2 billion received ($30M), it’s estimated that even when different IP contracts had been included, the contract with BLACKPINK members, whose ransom is overwhelmingly excessive, would have been near 10 billion received ($7.5M) every.”

YG Entertainment Clarifies Rumor About BLACKPINK's $31M Contract Renewal Down Payment
(Photograph : BLACKPINK (SBS))

Chosun Ilbo supported this, including:

“In 2022, the quantity of intangible property acquired by YG equal to the unique contract deposit is just 10 million received. ($7.5k). In only one 12 months, greater than 400 instances extra money was spent on the unique contract (after BLACKPINK).”

Investing an enormous sum of cash in group actions, YG additionally teased its teams’ future plan, saying:

“BABYMONSTER shall be energetic with its official debut in April, and TREASURE will proceed to develop by increasing its exercise stage past Japan to Asia. We’re additionally making ready plans for BLACKPINK’s group actions.”

READ MORE: BLACKPINK Future in Jeopardy? A Yr With out Group Actions Looms — Business Report

For extra Okay-Pop information and updates, hold your tabs open right here at KpopStarz.

KpopStarz owns this text.

Written by Eunice Dela Cruz

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