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YG drops $30.8 million for contracts, most likely for Blackpink
2024-03-29
YG Entertainment shelled out 41.2 billion won ($30.8 million) last year for exclusive contracts with its artists, most of which is suspected to have renewed a contract with Blackpink. 

According to the company’s recent electronic disclosure, the entertainment agency acquired 41.2 billion won in intangible assets, an accounting practice prevalent among labels that later translates into the cost of extending contracts.
 
YG reported last December that it renewed its contract with Blackpink for its group activities. As no other artists renewed their contracts with the agency, it is presumed that the sum was poured into Blackpink.
 
“There were various other contract renewals as well as new contracts formed over various intellectual property [IP],” a YG Entertainment spokesperson commented on Friday. “We cannot disclose the contract details, but the amount in question cannot be considered exclusive to Blackpink’s contract extension.”
 
Even taking into consideration that there were other IPs involved, each Blackpink member is speculated to have received a few billions of won for their contract renewal, according to local media reports. But the figure is said to not have gone over 10 billion won per member.
 
The Blackpink members took separate trajectories regarding their solo careers, with most members forming their own agencies with family members. Jennie, Jisoo and Lisa each founded their own agencies named Odd Atelier, Blissoo and Lloud, while Rosé is still seeking out her next step.
 
Meanwhile, analysts are lowering their target stock prices as YG remains mostly dependent on rookie girl group BabyMonster and other artists to boost earnings, considering that Blackpink's group activities are uncertain for the year.
 
Korea Investment & Securities lowered its target stock price from 75,000 won to 57,000 won.
 
“Estimated earnings were lowered as the start of Blackpink’s world tour was pushed back from end of this year to next year,” analyst Ahn Do-young said. “Assuming that Blackpink’s new album will be released in the fourth quarter, the future stock direction will be determined based on the profit levels that other K-pop acts BabyMonster and Treasure can achieve before Blackpink’s contribution.”
 
Daol Investment & Securities lowered its target stock price from 58,000 won to 55,000 won.
 
“YG Entertainment’s operating profit for the fourth quarter last year nose-dived 97.7 percent to 400 million won, failing to meet the market consensus,” analyst Kim Hye-young said. “This is due to the absence of significant album releases while the number of small-scale concerts surged.”
 
When pressed for comment about Blackpink’s activities this year, a YG spokesperson briefly commented that the agency “is planning” for group activities but did not specify a timeline. 
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