Here’s How Much BLACKPINK Could Be Fetching In Recontract Downpayments

This comes amidst insecurity about BLACKPINK’s contract renewals.

Investors are putting the pressure on YG Entertainment to announce the status of BLACKPINK’s contract renewals. Up to now, YG Entertainment has been keeping mum about the issue.

Industry insiders have estimated that it is unlikely that BLACKPINK will finalize their contracts until August 26, pushing back the announcement until September 2023 at least. As negotiations go on, insiders further speculate that the renewal downpayment per member will be around ₩1.50 billion KRW (about $1.16 million USD).

Of course, this does not include their salaries. According to industry big data, after contract renewals, most artists take away 80% of the profits, while agencies retain 20%. This is a 360 degree change from debut contracts, where agencies take between 60 to 80% usually.

The ₩1.50 billion KRW (about $1.16 million USD) was estimated from BIGBANG’s previous renewal, which saw ₩1.00 billion KRW (about $770,000 USD) go to each member. In more recent years, each TWICE member took home 12 ok as downpayment for a renewal. As BLACKPINK is estimated to account for more than 80% of YG Entertainment’s operating profit, it is possible that the number could go higher. BLACKPINK’s global recognition and selling power will also be taken into account.

An official from YG Entertainment stated to the media that the renewal announcement may be after September 2023, as the girls’ world tour concludes at the end of August. YG Entertainment is also slated to announce the renewal status of iKON’s contracts soon.

Source: Herald Corp

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