Big 4 K-Pop Companies New Joint Venture Triggers Huge Anger

“Sh*tty business…” Koreaboo 1 hour ago A new venture by the “big 4” K-Pop companies HYBE, JYP Entertainment, SM Entertainment, and YG Entertainment has sparked huge backlash. Earlier in the year, there were plans by the top four companies for a festival called Fanomenon, and outlets have reported that the companies have created a new joint venture to help prepare for the event. According to industry sources on the 10th, Phenomenon Co., Ltd., jointly funded by HYBE, SM Entertainment, JYP Entertainment and YG Entertainment, completed its corporate registration on the 26th of last month. The joint venture will be exclusively responsible for planning, production and operations of Phenomenon, which is scheduled to take place in December next year. Yet, when the news was shared, it sparked huge backlash from fans. While many hated how BTS’s hard work with HYBE was coming to this, with them not wanting the members involved, others shared that it was “evil” and a way to exploit idols and the industry. They’re making moves because a nugu two company is making noise right now, and the Big 4 aren’t as irrelevant as they used to be. https://t.co/MdT3roBbip — Nitchie Sky (@skiforyou01) November...