"YG get ready for bankruptcy": Fans react as BLACKPINK will reportedly part ways with YG Entertainment to join The Black Label

On December 30, 2022, Korean media outlets reported that BLACKPINK will reportedly part ways with YG Entertainment to join the agency’s subsidiary label, The Black Label.In response to the reports, an official from YG Entertainment stated that they were not in a position to confirm the news. However, they also added that the exclusive contract between BLACKPINK members and YG Entertainment has not yet ended, and they will get better clarity once the group’s exclusive contracts end.As the news surfaced online, BLINKs took to Twitter to share their reactions. One such fan commented:&quot;As they should. YG get ready for bankruptcy!&quot;Paul⁴ ✱ BLM@selenastan18@PopBase As they should. YG get ready to sign for bankruptcy!96@PopBase As they should. YG get ready to sign for bankruptcy!BLACKPINK fans take to Twitter to discuss the group's future plans, with the quartet reportedly leaving YG EntertainmentThe Black Label used to be a subsidiary of its parent company YG Entertainment and is run by Teddy Park, the group’s long-time producer. However, in November 2020, The Black Label graduated from being a subsidiary to an associate company.In such a case, being an associate company means that the parent company controls between 20-50 percent of the company. As it happens, YG Entertainment currently controls 50 percent of The Black Label and its functioning.ken@togejustvibinBLACKPINK ENTERTAINMENT57961293BLACKPINK ENTERTAINMENT https://t.co/9I9VVl86UFNo sooner did the news of the Pink Venom singers leaving YG Entertainment in favor of The Black Label made it online, BLACKPINK fans took to social media to react to it. Moreover, BLINKs are hoping that being affiliated with Teddy Park’s The Black Label will open doors to more music releases, collaborations, and solo endeavors for the quartet.However, a few fans feel that YG Entertainment is deliberately letting the Pink Venom singers go to The Black Label so they can launch a new group under their agency. Meanwhile, the majority of the fanbase is hopeful that the members will eventually launch their own labels and Jisoo will make her much-deserved solo debut.CHINESE SALES 🇨🇳@ChinaMusicData It is unknown if the contracts with the Artists leaving YG Entertainment like @BLACKPINK, @YG_iKONIC &amp; Taeyang will affect future releases in China, there is a possibility they will have to make a new contract to allow their music to be sold digitally in the country.2543490🚨 It is unknown if the contracts with the Artists leaving YG Entertainment like @BLACKPINK, @YG_iKONIC &amp; Taeyang will affect future releases in China, there is a possibility they will have to make a new contract to allow their music to be sold digitally in the country. https://t.co/s0KlgZfY3B2NE1 𓆩♡𓆪@DylanJensen21@PopBase Technically YG doesn’t want to give Blackpink comeback anymore just like they did with 2ne1 after the release of second full album. Therefore, they transfer Blackpink to black label so people won’t hate YG and then they proceed to release YG new girl group1650107@PopBase Technically YG doesn’t want to give Blackpink comeback anymore just like they did with 2ne1 after the release of second full album. Therefore, they transfer Blackpink to black label so people won’t hate YG and then they proceed to release YG new girl groupRay 🌧@rayxrosie@PopBase The change:2522165@PopBase The change: https://t.co/hbBJV3IKgGjust@fckoffbtch__@PopBase They are still under YG. They have been working with blacklabel since debut so there’s no difference at all. 104843@PopBase They are still under YG. They have been working with blacklabel since debut so there’s no difference at all. 😂just@fckoffbtch__@PopBase They love working at the old YG building. 26324@PopBase They love working at the old YG building. 😂 https://t.co/z3RohtPGnRAlice Namor's bitch⁷ // SAW BLACKPINK@IamFromStars@PopBase TEDDY YOU BETTER GIVE THEM THE PROMO THAT THEY DESERVE34012@PopBase TEDDY YOU BETTER GIVE THEM THE PROMO THAT THEY DESERVEhttps://t.co/mAdmTnOM3Omerc@4RPARK@PopBase AND WE CHEER191@PopBase AND WE CHEER https://t.co/001Yhp4Z5Schaelisa isnt real@chaescvnty@PopBase small thought that counts, but more creative + freedom control1526@PopBase small thought that counts, but more creative + freedom control https://t.co/kYZ6GdhylN✦@jisoophoric@PopBase jisoo solo when976@PopBase jisoo solo when https://t.co/V79KIzcW0lBLACKPINK's exclusive seven-year contract will end sometime in the second half of 2023. It is speculated that they will not renew their contract with YG Entertainment and will instead sign with Teddy Park’s The Black Label.Additionally, it is believed by the fans that YG Entertainment is undergoing a complete overhaul and restructuring of their agency. If that happens, there might be multiple subsidiaries and associate labels under the parent company for better management instead of all artists and groups directly working under YG Entertainment.iKON, Kang Dong-won, and BIG BANG members Taeyang and Daesung leave YG Entertainment최고의 깜박임@hottest_blink@PopBase basically it will be &quot;BLACKPINK ENTERTAINMENT&quot; #BLACKPINK71@PopBase basically it will be &quot;BLACKPINK ENTERTAINMENT&quot; #BLACKPINK https://t.co/bLvB8zVmBUYG Entertainment has recently witnessed many artists leaving the company. TREASURE’s Mashiho and Bang Yedam left the group and agency to pursue their solo endeavors. Meanwhile, BIG BANG’s Taeyang and Daesung left YG Entertainment, with member T.O.P leaving earlier this year. Taeyang will reportedly sign with The Black Label. Only leader G-Dragon has stayed back with YG Entertainment and will sign an exclusive solo contract with the management.On December 30, it was revealed that all six members of iKON have left YG Entertainment and are looking for a new label to pursue their group activities. Veteran Korean actor Kang Dong-won also left YG Entertainment for better opportunities.

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