After the long anticipation, YG Entertainment finally confirmed that its leading boy group, BIGBANG, has renewed their contract with the company. However, the announcement received mixed reactions from netizens.
YG revealed on Tuesday that BIGBANG members G-Dragon, T.O.P, Taeyang, and Daesung decided to ink a new contract with the label. This would be the third time the "Bang Bang Bang" singers renewed their contract with YG Entertainment.
"BIGBANG has not only paved the way in musical influence but also changed the flow of the South Korean mass culture. BIGBANG will continue to write K-pop history as the representative artist of our agency, and we will put our all in supporting them," YG Entertainment said.
Meanwhile, Korean and international K-pop fans have mixed reactions about BIGBANG contract renewal. Many international fans responded positively to the news. Some are already anticipating a new album from the "Fantastic Baby" hitmakers and is expected to be more focused on global fans.
Korean netizens, on the other hand, are less forgiving in their comments. Many pointed out the scandals that the members have been involved with in the past.
"A unique group of ex-convicts," one commented. "Where else would they go? What agency would take them? ㅋㅋㅋsince they have nowhere else of course they'll flock together," another added.
The members of BIGBANG have been with the label for 15 years. Many believed that BIGBANG was the group that made YG Entertainment one of the most successful agencies in Korea. With the contract renewal, BIGBANG is also expected to resurrect YG's financial status at the moment.
Earlier this year, market analysts predicted that YG's stocks are highly dependent on whether or not BIGBANG's will stay with the agency. One analyst said if BIGBANG promotes a new album, the group's profits could rise to at least 10 billion won ($8 million).
Market analysts have also expected G-Dragon and Taeyang will most likely to renew their contract with YG because the company holds the trademarks on their stage names. The label has the Korean copyrights to "G-Dragon" in both Korean and English. They had filed for the copyrights in 2003, three years before the group debut in 2006.
In 2015, YG also filed for the copyrights of "Taeyang" and "GD X Taeyang". This means if the two members decide to leave YG, they will not be able to use their stage names without the consent and permission from YG Entertainment.
