South Korean girl band BLACKPINK members are reportedly discussing contract renewal with their company, YG Entertainment and there are some reports that each member might receive a total of $1.1 million.
As per reports, it is also expected that the members will be receiving 80 percent of the profits from products, music, and events related to the group.
The profit-sharing ratio between artists and the company is usually either 50-50 or sometimes the company takes away a major chunk from the profits. So, this change will be quite crucial for the BLACKPINK members.
The label earlier disclosed that by September, they will officially announce the details of the renewal. Meanwhile, earlier rumours suggested that the contract renewal with Lisa has not been smooth and that it is still quite uncertain.
BLACKPINK has been on a world tour since October 2022 and has visited several countries, including the West, Europe, and Asia. BLACKPINK is a four-member group including – Rose, Lisa, Jisoo, and Jennie.
Read more: BLACKPINK’s Jisoo breaks record for biggest Spotify debut as a female K-Pop soloist
The group is known for their powerful performances and catchy pop songs that incorporate various genres such as hip-hop, EDM, and R&B. They have released several hit songs such as “Whistle,” “Boombayah,” “Kill This Love,” and “How You Like That,” among others.
Blackpink has also broken several records, including becoming the first K-pop group to perform at Coachella and the first K-pop group to have a music video with over 1 billion views on YouTube for their hit song “Ddu-Du Ddu-Du.” The group has also collaborated with several international artists, including Lady Gaga, Dua Lipa, and Selena Gomez.
