PSY has decided not to renew his contract with YG Entertainment, a source from the agency confirms.
On May 15, the agency released a statement confirming that their exclusive contract with PSY is over and after deep conversations with PSY, they have decided to respect his wishes to go separately.
“YG and PSY have been together with special trust for the past 8 years. We provided endless support to PSY’s overflowing energy and passion for music, we all shared the excitement as ‘Gangnam Style’ gained worldwide recognition.
Regardless of the contract period, we will remain close forever. We will be cheering on PSY’s new beginnings and wish him all the happiness. We also express our deep gratitude for the fans who supports and loved PSY as a YG artist until now.”
PSY had signed an exclusive contract with the label back in 2010, he then renewed his contract again in 2014, he spent a total of 8 years at the company.
Are you shocked by the news?
Ouch! Is the first thing that comes to my mind!
With all honesty, I never expected him to stay at YG forever, he is getting old and would probably prefer to embark on a solo journey, my hunch tells me that he will start his own agency and try to debut an idol group of his own (my hunch, I am not stating facts here!).
PSY is a great revenue source to YG, with him and 2NE1 gone, plus BIGBANG’s hiatus; YG will have to charge forward with great energy to promote his younger artists.
It’ll be interesting to see what PSY does next!
Also, I have a question! Who has been writing those recent YG statements? Boasting much?
The line ‘We provided endless support to PSY’s overflowing energy and passion for music,’ Jesus Christ! Take it easy, we know you did well with him, why are you writing such a lame line in the statement?
It was your duty, he put your name on the map with ‘Gangnam Style,’ jeeeee, they need to hire someone who can write less lame statements! I bet the person who wrote this statement was the same one who wrote the MIXNINE cancelled debut statement.