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Following Jennie's announcement of her foray into the label industry, the idol's former agency saw yet another setback as its shares dropped sharply. Meanwhile, the individual contract negotiations of each member of BLACKPINK remain undisclosed, despite the members signing with the company to continue as a group.
However, as noted by fans, investors may be feeling unnerved, while the group's fandom is experiencing conflicting feelings as a result of the recent downturn in the YG Entertainment roller coaster. Fans of the You & Me singer didn't hesitate in expressing their feelings over YG Entertainment's share drop, tweeting that the company deserves it.
According to the official announcement by the BLACKPINK idol on December 24, 2023, Jennie has taken a historic step by starting her own label, ODDATELIER. After great anticipation, the renowned member of BLACKPINK, apparently revealed her label via her Instagram account.
"Jennie's impact": Fans express contentment over YG Entertainment's drastic decline in market capitalization
On December 26, 2023, South Korean media outlet E-Today reported that YG Entertainment decreased by 3.94% (2,050 won) from the preceding trading day as of 9:40 am KST. The company's share value decline has been speculated to have been prompted by the announcement of the BLACKPINK's member independent label launch.
Jennie formally declared on her social media two days prior on December 24, 2023, the launch of her own label, ODD ATELIER. OA, which stands for ODD ATELIER, apparently strives to develop innovative concepts to capture interest in a manner different from what is customary or anticipated, according to the label's official website descriptor. The website further provides a glimpse of Jennie's creative vision and dedication to non-traditional works.
Interestingly, fans soon expressed their content over the news of YG Entertainment's drop in the company value in the share market. They lauded the BLACKPINK idol for being an icon and starting her own new independent company and setting a historic precedence as a female solo artist and businesswoman in the K-pop realm.
More about BLACKPINK Jennie's new label ODD ATELIER
Following a successful 2023 that witnessed the release of eagerly anticipated solo music, Jennie's acting debut in the HBO series The Idol, her opening for Coachella performance alongside Blackpink as part of their historic Born Pink world tour, and her appointment as an honorary member of the Order of the British Empire, the idol is now winding up the year by revealing her next big move.
With three brand-new images of Jennie, the ODD ATELIER Instagram account gained 500,000 followers in only a few hours on December 24, 2023, and it is expected to keep expanding as fans learn about the star's recent major development.
The company name, which translates to "odd workshop" in English, complements the definition above, as "atelier" means "workshop" in French, which Jennie learned. The revelation that Blackpink had reinstated their contract with original agency YG Entertainment to continue group operations preceded the You & Me singer's independent label declaration earlier in December.
Global fans and YG investors were ecstatic to hear the news of the BLACKPINK members choosing to renew contract as a group with YG Entertainment, as seen by the 26 per cent increase in the company's stock, according to regulatory filings.
It did not, however, provide any clarification about the binding agreements of the the members' individual exclusive contract as the label's solo artists. It is unclear if Jisoo, Rosé, and Lisa will each re-sign with YG Entertainment or choose to pursue other career paths. However, the You & Me singer is the first member of BLACKPINK to launch her own agency for her solo endeavours.
Previously, on September 25, 2023, speculations of BLACKPINK member Jisoo launching her company had surfaced amid the group's contract renewal uncertainties. Given that Jennie had already launched her own company, fans are curious whether Jisoo would follow suit and start her own independent endeavors as a businesswoman.
Fans are excited to see what the You & Me singer offers under the umbrella of her newly launched label ODD ATELIER.
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