LONDON, ENGLAND – NOVEMBER 22: (left to proper) Lisa (Lalisa Manoban), Rose (Roseanne Park), Jisoo Kim and Jennie Kim, from the Ok-Pop band Blackpink pose with their Honorary MBEs (Members of the Order of the British Empire), awarded to them in recognition of the band’s function as COP26 advocates for the COP26 Summit in Glasgow 2021 on November 22, 2023 in London, England. King Charles III carried out the particular Investiture ceremony within the presence of the President of South Korea, Yoon Suk Yeol, and his spouse, Kim Keon Hee. (Picture by Victoria Jones – Pool/Getty Pictures)
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Shares of Ok-pop company YG Leisure spiked as a lot as 29% after the corporate introduced that it has renewed unique group contracts with all 4 members of woman group Blackpink.
The inventory closed at 48,000 South Korean gained ($36.58) per share on Tuesday, close to its 2023 low of 47,000 gained. However on Wednesday, it surged on the open and hit an intraday excessive of 61,900 South Korean gained per share.
This might convey an finish to the lengthy operating contract saga between the favored Ok-pop group and the company. The drama took YG shares on a wild experience alongside the rumored ups and downs in contract negotiations.
The phrases of the brand new deal weren’t instantly clear and the announcement didn’t specify whether or not the members renewed their contracts on a person foundation.
In late November, South Korean outlet Munhwa Ilbo reported that members wouldn’t renew their unique particular person contracts with YG, however as an alternative proceed group actions as Blackpink underneath the label.
Munhwa Ilbo reported then that “unique contracts between every member and YG Leisure weren’t signed. Sooner or later, they plan to hold out particular person actions and are available collectively just for Blackpink actions.”
Shares of YG beforehand plunged every time South Korean media reported that members of the group won’t renew with the label.
Blackpink is arguably one among YG’s most profitable acts. The corporate stated the group’s current world tour attracted 2.11 million folks around the globe, spanning 66 performances in 34 cities.
Most just lately, the four-member group turned the primary Ok-pop group and the primary non-British musicians to obtain honorary Member of the Order of the British Empire medals from British monarch King Charles III on Nov. 22, in recognition of their advocacy on the COP26 local weather talks in Glasgow in 2021.
The group was additionally the primary Asian act and Ok-pop woman group to headline the Coachella competition within the U.S. and the first Ok-pop group to headline a serious competition within the U.Ok. on the BST Hyde Park competition.
Blackpink holds the Guinness World Report for most-viewed music channel on YouTube for a gaggle.