According to YG Entertainment’s 2023 business report registered in the Financial Supervisory Service’s Electronic Disclosure System on the 22nd, YG spent 40 billion won on BLACKPINK’s contract renewal cost last year. It is estimated to be about 10 billion won per person.
According to the business report, YG acquired about 41.2 billion won in intangible assets (exclusive down payment) last year. In general, listed entertainment companies classify artist-exclusive contract deposits as ‘intangible assets.’ As there were no separate artists within YG last year, a large amount of money, close to 40 billion won, was spent solely on the cost of renewing BLACKPINK’s contract.
This figure is about 4 billion won higher than BTS’ contract renewal cost of 6 billion won (based on one member). This is the highest contract renewal cost in K-pop management company history.
BTS renewed its contract with HYBE in September last year. According to the industry, the cost of renewing BTS’ entire contract is estimated at more than 21 billion won. However, unlike BTS members, BLACKPINK does not own shares in the company. BTS received HYBE stock as a gift before renewing their contract, and some sold some or all of it. To date, all BLACKPINK members have no shares in YG.
YG succeeded in renewing the contract with the entire girl group, but Jennie, Rosé, Jisoo, and Lisa each established a one-person agency.
Jennie founded her one-person label ‘ODD ATELIER’, headed by her and her mother. Jisoo started a new label, Blissoo, under her older brother’s probiotics company Biomom. Lisa also recently formalized the establishment of LLOUD, a one-person agency. Rosé is also looking for a new agency—or maybe forming her own one as well.
