Blackpink Agency Shares Skyrocket After K-Pop Stars Renew Deals

YG Entertainment jumped as much as 29% on the contract renewal
Shares were down 49% from peak amid Blackpink uncertainties

Blackpink perform on stage at the 2023 Coachella Valley Music and Arts Festival in April. Photographer: Emma McIntyre/Getty Images

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By Sohee Kim and Youkyung Lee

December 6, 2023 at 1:08 AM UTC

Updated on

December 6, 2023 at 8:41 AM UTC

YG Entertainment Inc. said all four members of Blackpink renewed their contracts with the K-pop agency, dispelling concerns over the band’s continuation after their terms expired in August.

Shares in the Seoul-based artist promoter finished 26% higher on Wednesday, their biggest daily jump since a first-day pop when it went public in 2011. YG Plus, its content production affiliate, shot up 24%. Blackpink plans a new album and a world tour with YG, the agency said in a statement. Wednesday’s gain puts the agency — now the smallest among the four major Korean music labels — at $857 million in market value.