Blackpink Member Departures Rumored, YG Entertainment Stock Plummets

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Cindy Mutia Annur 27/09/2023 13:50 WIB

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YG Entertainment, the K-pop management agency's stock price plummeted amid rumors that Lisa, Jennie, and Jisoo would leave Blackpink.

YG Entertainment Stock Price Movement (January 2 - September 26, 2023)

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YG Entertainment Stock Price Movement (January 2 - September 26, 2023)

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In mid-September 2023, rumors circulated that Lisa, Jisoo, and Jennie would be leaving the group Blackpink. These rumors were first reported by the South Korean media outlet, *Sports Seoul*.

"Several Blackpink members have decided to leave YG Entertainment, while only one member is renewing their contract with the agency," reported *Reuters* on Thursday, September 21, 2023, citing an unnamed source from the entertainment industry.

The rumors appeared to negatively impact the share price of YG Entertainment, the K-pop management agency that manages Blackpink.

According to Yahoo Finance data, YG Entertainment's share price on the KOSDAQ exchange reached 64,600 South Korean Won at the close of trading on Tuesday, September 27, 2023. This share price fell by 900 points, or 1.38%, from the previous day.

A downward trend in YG Entertainment's share price had been observed since Wednesday, September 20, 2023, with the sharpest decline occurring on Thursday, September 21, 2023, a drop of 10,600 points or 13.28% from the previous day.

However, despite the drop, YG Entertainment's share price remains higher than its year-to-date low, as shown in the graph above.

Previously, YG Entertainment's share price also plummeted in July 2023 amid reports that Lisa Blackpink would not be renewing her contract with the agency.

According to Reuters, on Thursday, September 21, 2023, YG Entertainment stated that discussions regarding the renewal of Blackpink members' contracts were still ongoing and nothing could be confirmed.

Blackpink is one of the most successful K-pop groups at YG Entertainment. The girl group, consisting of Jisoo, Jennie, Rosé, and Lisa, debuted with YG Entertainment in August 2016.

Generally, K-pop group contracts last for seven years. Following this pattern, Blackpink's contracts ended in August 2023.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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