BLACKPINK’s Lisa contract issues - what’s led to YG Entertainment making an official announcement?
The BLACKPINK musician has been the subject of speculation this week, leading to YG Entertainment having to issue a statement.
K-Pop fans have been watching with interest the developments regarding BLACKPINK member Lisa and her contractual status with YG Entertainment. The group, founded in 2016, have several contracts expiring this year, with Lisa rumoured to be “far apart” regarding her contract compared to what YG Entertainment have allegedly offered.
Previously reported by Koreaboo, the issues have arisen due to interest from other record labels around the world given the crossover success of the group that are said to be worth tens of millions of dollars, with Star News providing that information to the K-Pop website.
YG Entertainment might be offering an equivalent amount, however, given the success of the solo careers of BTS members Jimin, Jungkook and now V, it’s hardly surprising that international labels are now looking to covet a member of one of K-Pop's biggest female acts to emerge from the K-Wave.
Per Star News once again, “there is also a rumor stating that Lisa already rejected YG’s first offer and recently rejected a second offer. The size of the contract is rumored to be worth ₩50.0 billion KRW (about $37.7 million USD).”
YG Entertainment addressed the rumours through the media outlet TV Report, with the management company stating “We are still discussing contract renewals with Lisa. The rumours that are going around are nothing that is confirmed.”
What would happen to BLACKPINK if Lisa left?
That is the bone of contention regarding the contract situation - what would happen to BLACKPINK if one of their members chose to sign another contract?
History has demonstrated that management companies have no problem replacing a member with another idol they see is a real fit for the group, through auditions and talent scouting. The very same thing occurred with Blackswan, leading to media outlets asking if they are a K-Pop group now none of the members at South Korean by birth.
The other option though, one that Wu-Tang Clan fans might be familiar with, is that Lisa could sign a deal with an international label for her solo efforts, but still sign a contract that would allow her to also perform as a group artist with BLACKPINK.
However, solo efforts sometimes are kept in-house through a subsidiary of YG Entertainment - meaning that the team might want Lisa’s solo efforts to remain within the remit of YG Entertainment.
It looks to be quite an interesting situation, one that might plague some K-Pop groups going forward now Western interest is peaking once again in the genre.