After Blackpink Red Velvet is facing an uncertain future as their exclusive contracts with SM Entertainment approach their expiration date. Red Velvet, in its 9th year of debut, is also uncertain about its full-length activities. Among the members, Seulgi was the only one to renew his contract. The remaining members, Irene, Joy, Wendy, and Yeri, have not confirmed the renewal of their contracts, and some of them are nearing the expiration of their exclusive contracts.
Red Velvet’s comeback album “Chill Kill” fueled disbandment rumours that had been swirling around the group. The rumours were initially sparked by a change to the group’s official SNS introduction, which was switched from “Red Velvet Official” to “Happy Ending.” This led some fans to speculate that the group was preparing to disband. Read More on BlurStory – Veteran Singer and Actress Nana Renews Contract with Pledis Entertainment
However, SM Entertainment, Red Velvet’s agency, denied the rumours, stating that the change was made for album concept purposes. Despite SM’s clarification, some fans remain concerned about the group’s future.
Moreover, compared to Blackpink Red Velvet doesn’t have global presence big as Blackpink. While Blackpink continues to be YG’s main source of revenue as they are active not only in Korea but around the world. However, Red Velvet has not yet achieved significant results on Western charts such as Billboard. Of course, they indeed showed their growth potential by becoming their first million-seller through the mini album ‘The Live Festival 2022 – Birthday’ released last year, or by accelerating their recent global moves.
Red Velvet’s Enduring Impact: A Looming Loss for SM Entertainment and Its Devoted Fanbase
Red Velvet’s departure from SM Entertainment could have significant repercussions for the agency and its loyal fanbase. As a group that embodies SM’s signature blend of musical styles and captivating concepts, Red Velvet has garnered a devoted following, not only among established SM fans but also newcomers to the K-pop scene. Pop culture critic Kim Do-heon aptly describes Red Velvet as a group that “shows a unique worldview,” resonating deeply with their audience. Therefore, a potential disbandment of Red Velvet would undoubtedly send shockwaves through the fandom, leaving a void in the SM landscape.
According to pop culture critic Ha Jae-geun, a group’s contract renewal is influenced by a multitude of factors, with the most crucial aspect being the members’ desire to continue as a group. This decision is anticipated to have a profound impact on whether Blackpink and Red Velvet extend their contracts.
Source – Naver
