YG Entertainment has dismissed rumors of their group BLACKPINK moving to The Black Label.
On December 30, Korea Herald claimed that BLACKPINK will leave YG Entertainment and move to YG’s subsidiary agency The Black Label.
In response, YG Entertainment denied the reports saying that it is groundless on Newsen in the afternoon of December 30.
BLACKPINK debuted in August 2016 with their singles “Whistle” and “Boombayah.” Their contract with YG Entertainment is about to expire in 2023. As the contract period is still more than half a year away, whether they will renew the contract is expected to be announced later after in-depth discussions.
The Black Label is a YG-affiliated agency led by Teddy, a producer from Group 1TYM, as the CEO. He started it as a label under YG Entertainment, and YG Entertainment currently holds about 30% of its stake. The Black Label building is adjacent to the YG building.
As an artist under YG Entertainment, BLACKPINK has continued active musical collaborations with Teddy, the CEO of The Black Label. Teddy produced all their hit songs, starting with the group’s debut song.
The Black Label includes solo singers Zion.T, Jeon Somi, and producer R.Tee.
Meanwhile, Taeyang, a member of the group BIGBANG, who was under YG Entertainment, announced on December 26 that he had moved to The Black Label without renewing his contract with YG Entertainment. While YG Entertainment said, “There is no change in the fact that Taeyang is a part of YG’s family and a member of BIGBANG. We know that many people are waiting for BIGBANG activities, so we will work together to do this.”
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