YG Entertainment denied speculation about BLACKPINK's contract renewal cost.
On March 21, rumors began circulating that BLACKPINK's renewal cost for their contract with YG Entertainment for their group activities exceeded at least 30 billion KRW ($22.5 million USD). One netizen also alleged the label had renewed the girl group's contract for around 10 billion KRW ($7.5 million USD) for each member.
In response, YG Entertainment explained the numbers mentioned were not exclusively spent on BLACKPINK. According to one representative from the label, the agency had renewed and signed more IP contracts, and all the fees were included in the expense reports. However, they did not reveal the details on BLACKPINK's contract or the associated costs.
As previously reported, BLACKPINK renewed their contracts to promote as a group with YG Entertainment in December of 2023, while their solo promotions will occur under separate labels.
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