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All BLACKPINK Members Renew Contracts with Label YG

K-Pop band Blackpink's members, Lalisa "Lisa" Manoban, Roseanne "Rose" Park, Kim Ji-soo and Jennie Kim, pose with their medals following a special investiture ceremony to present them with Honorary MBEs (Member of the Order of the British Empire), at Buckingham Palace in London on November 22, 2023. (AFP)
K-Pop band Blackpink's members, Lalisa "Lisa" Manoban, Roseanne "Rose" Park, Kim Ji-soo and Jennie Kim, pose with their medals following a special investiture ceremony to present them with Honorary MBEs (Member of the Order of the British Empire), at Buckingham Palace in London on November 22, 2023. (AFP)
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All BLACKPINK Members Renew Contracts with Label YG

K-Pop band Blackpink's members, Lalisa "Lisa" Manoban, Roseanne "Rose" Park, Kim Ji-soo and Jennie Kim, pose with their medals following a special investiture ceremony to present them with Honorary MBEs (Member of the Order of the British Empire), at Buckingham Palace in London on November 22, 2023. (AFP)
K-Pop band Blackpink's members, Lalisa "Lisa" Manoban, Roseanne "Rose" Park, Kim Ji-soo and Jennie Kim, pose with their medals following a special investiture ceremony to present them with Honorary MBEs (Member of the Order of the British Empire), at Buckingham Palace in London on November 22, 2023. (AFP)

All members of the megastar girl group BLACKPINK renewed their contracts with YG Entertainment on Wednesday, the company said, ending speculation around their future and driving up shares in the leading K-pop label by over 20 percent.

Rumors surrounding BLACKPINK -- one of K-pop's most successful girl groups -- and their potential future plans have abounded since the quartet's original contracts expired in August, with local reports even claiming in September that member Lisa rejected YG's renewal offer.

But YG announced on Wednesday that all members -- Jenny, Lisa, Jisoo and Rose -- had renewed their contracts with the company for "group activities".

"After careful discussion with BLACKPINK, we signed an exclusive contract for group activities based on deep trust," the label said in a statement sent to AFP.

"With YG's full support, BLACKPINK plans to repay the love of fans around the world with activities commensurate with their global status, including the release of a new album and a large-scale world tour," it added.

BLACKPINK, who first emerged out of South Korea's wildly popular K-pop scene in 2016, has also been recognized for the group's efforts on climate advocacy.

Last month, the members were given one of Britain's most prestigious honors by King Charles III, for their work for the COP26 climate summit in 2021.

Their official YouTube channel has a staggering 92.3 million subscribers, making them one of the most subscribed artists in the world on the platform.

BLACKPINK's other achievements include being the first-ever K-pop girl group to reach the top of the US Billboard 200 chart, and the first Asian artists to headline prestigious music events such as Coachella.

YG, on the other hand, was at the center of the notorious "Burning Sun" entertainment and sex scandal -- which revolved around a Gangnam nightclub of the same name -- that rattled South Korea in 2018.

The label was hard hit when Seungri -- a former member of popular boyband BIGBANG and co-director of Burning Sun -- retired from show business in 2019 amid mounting criminal investigations.

He was later sentenced to 18 months in prison for offering women to potential investors for sexual services, among other charges.

YG Entertainment's shares were up 24.58 percent to 59,800 won in afternoon trading in Seoul.

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Ticketmaster May Have Misled UK Oasis Fans, Watchdog Says

A view of a mural of Oasis band members Liam and Noel Gallagher by artist Pic.One.Art on the side of Sifters record shop in the Burnage area of Manchester, Britain, August 31, 2024. (Reuters)
A view of a mural of Oasis band members Liam and Noel Gallagher by artist Pic.One.Art on the side of Sifters record shop in the Burnage area of Manchester, Britain, August 31, 2024. (Reuters)
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Ticketmaster May Have Misled UK Oasis Fans, Watchdog Says

A view of a mural of Oasis band members Liam and Noel Gallagher by artist Pic.One.Art on the side of Sifters record shop in the Burnage area of Manchester, Britain, August 31, 2024. (Reuters)
A view of a mural of Oasis band members Liam and Noel Gallagher by artist Pic.One.Art on the side of Sifters record shop in the Burnage area of Manchester, Britain, August 31, 2024. (Reuters)

Ticketmaster may have misled music fans into paying more for tickets than they had planned last year to see British band Oasis, the UK's competition watchdog said on Tuesday, urging the company to change how it labels tickets and informs customers.

Thousands of fans waited for hours online to get their hands on highly coveted tickets for the band's 2025 reunion shows, only to find prices had jumped by the time they got to the front of the queue.

"We’re concerned that Oasis fans didn’t get the information they needed or may have been misled into buying tickets they thought were better than they were," said Hayley Fletcher, interim senior director of consumer protection at the Competition and Markets Authority (CMA).

The watchdog said it was concerned that Ticketmaster may have breached consumer law. CMA does not currently have power to levy fines for breaching consumer laws, which are enforced through the court system.

A Ticketmaster statement said that it aimed to provide a "simple, transparent and consumer-friendly experience" and welcomed the CMA's input.

The CMA launched an investigation into Ticketmaster in September to examine if it had engaged in "unfair commercial practices," and if they were pressured to buy tickets within a short period of time.

The CMA originally said it was also looking at how dynamic pricing models - a form of surge pricing - may have been used, but Ticketmaster has said it did not use dynamic pricing models.

The outcry over the way the ticket sale process was managed became a hot political topic, spurring Prime Minister Keir Starmer to promise to get a grip on the wider issue of event tickets being sold at inflated prices.

The government has since announced proposals to cap resale prices and hold reselling websites more accountable.

The CMA issued an update on its findings on Tuesday outlining two main concerns.

One was that seats labelled as "platinum" were sold at a premium without consumers being made fully aware that they didn't come with any extra benefits.

Another was insufficient information provided to buyers at the start of the queue on different ticket categories and their prices if cheaper tickets were sold out before their turn to buy.

The CMA said Ticketmaster had made some changes since the investigation began, but that more work was still needed.

"We now expect Ticketmaster to work with us to address these concerns so, in future, fans can make well-informed decisions when buying tickets," the CMA's Fletcher said.