240322 YG Entertainment: “The 41 billion won was not spent solely on BLACKPINK; we are preparing group activity plans for this year” [Official]

[Reporter Hwang Hye-jin, Newsen] YG Entertainment (YG) has announced its official stance on the re-signing of Blackpink (Jennie, Rose, Lisa, and Jisoo).

On March 21, YG Entertainment released its 2023 business report through the electronic disclosure system.

According to the breakdown of intangible assets in the business report, YG spent about 41 billion won on exclusive contracts for its artists last year. This has raised speculation that the 41 billion won ($41.5 million) went to BLACKPINK, who signed a new contract last year. On December 6th of last year, YG stated, “After careful discussions with BLACKPINK, we signed an exclusive contract for the group’s activities based on strong trust.”

However, it was confirmed that the 41 billion won was not spent solely on BLACKPINK. YG told Newsen on March 22, “Last year, there were re-contracts and new contracts for many IPs, not just BLACKPINK, and we cannot disclose any details of the contracts, so we cannot comment on the contract amount and contract period for each IP.”

The company also revealed its artists’ activity plans for this year. According to YG, Baby Monster will officially debut on April 1 and will be actively engaged in activities. Treasure plans to continue its growth by expanding its activities beyond Japan to Asia. “We are also preparing a group activity plan for BLACKPINK,” YG explained.

BLACKPINK, meanwhile, rewrote the record for the largest world tour by a K-pop girl group last year with their 66-date world tour “BORN PINK,” which took place in 34 cities around the world. As the first Asian artist to headline the Coachella Festival in the U.S. (250,000 people combined on both days) and Hyde Park in the U.K. (65,000 people), YG reaffirmed its unrivaled world-class status by playing to a total of 2.15 million music fans.

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