BLACKPINK’s contract with its agency, YG Entertainment will be ending in August 2023. Reportedly, industry insiders revealed that the music label is preparing to offer millions of dollars to the K-pop girl group to renew their contract again.
According to the same insider report, BLACKPINK member Lisa is receiving an overseas offer of around 81.2 million USD. The insider said, “From what I understand, [agencies] in countries like China expressed their desire to offer guarantees around ₩100 billion KRW (about $81.2 million USD) won to Lisa, who has complete influence in not only her home country of Thailand but the Southeast Asian market.”
The same insider reportedly said, “When you take into consideration the scale of the Korean market, it’ll be hard for [Korean agencies] to handle that kind of offer.”
Several reports further said that YG Entertainment is planning to sell out at least 16.2 million USD per member as a bonus for the renowned girl group to renew their contract with the agency.
Another report by Nate News says, “Industry insiders are anticipating that YG will offer a down payment of at least ₩20.0 billion KRW (about $16.2 million USD) per member to keep BLACKPINK… Contract renewals are usually for 2~3 years.”
The same report said, “If the rumors are true and they give each members ₩20.0 billion KRW (about $16.2 million USD), for a total of ₩80.0 billion KRW (about $65.0 million USD), YG will need to calculate if they’ll be able to make a profit within that time period.”
It is time for the BLACKPINK fans to rejoice because one of the members, Lisa has earned a nomination at the Premio Lo Nuestro awards 2023! On January 23, 2023, Premio Lo Nuestro (or Lo Nuestro Awards) announced their complete list of nominations for the 35th annual show. For the unversed, it is the longest-running Latin music ceremony.
The Lo Nuestro Awards is a Spanish-language awards show that is observed to celebrate the year’s best Latin music. For the unversed, it is presented by the popular Spanish-language U.S. TV network named Univision. The nominations for the same are based on assessments by various entertainment experts, the number of streaming counts, and Uforia radio airplay between October 1, 2021, to September 30, 2022.