BTS, BlackPink face difficult choices, what are the "big guys" planning?

BTS, BlackPink face difficult choices

In 2022, Kpop witnessed the dominance of girl groups, from the return of famous names like SNSD, 4minute to the impressive debuts of 4th generation groups like Le Sserafim, IVE, NewJeans,...

BlackPink group

However, up to now, BlackPink and BTS are still the two leading Kpop groups. They not only have a large fan base but also have many awards throughout their singing careers.

According to data tracker Kpop Radar, views of K-pop videos on YouTube in the 12 months through August totaled 64.3 billion, a 2.5-fold increase from the figure three years ago.

Competition is fierce even for the top spot, which is traditionally the playground of big stars. The YouTube view share of the top five groups, including BTS, fell from 54.3% in 2019 to 42.8% in 2022.

The market shares of the two largest video consuming countries, South Korea and Japan, fell to 10.3% and 7.5% respectively. Shares for Southeast Asian countries and the US increased, indicating a growing fan base around the world .

BTS

However, in 2023, Kpop witnessed many fluctuations when the two "trump cards" BlackPink and BTS both had to face difficult choices.

Specifically, BlackPink will end their contract with YG Entertainment in 2023, which means there are still a few months for the girls to decide for themselves, either they sign a new contract or separate to pursue a solo career.

In 2023, BTS will only have 6 members left who can regularly work with the group, after Jin enlists in the army.

Previously, BTS also announced that they would temporarily suspend group activities to allow the members to develop their personal orientations. Therefore, the specific activity plan for BTS this year has not been specifically announced.

What is the scenario for Kpop in 2023?

According to Naver, 2023 is predicted to be the year of Kpop boy groups. The source said that this is the time when the 4 major entertainment companies (HYBE Entertainment, SM Entertainment, JYP Entertainment and YG Entertainment) plan to introduce rookie groups.

Music groups under YG Entertainment

There are expected to be about 10 idol groups debuting in the Korean, Japanese, American and Chinese markets, 7 of which are boy groups.

Along with that, these 4 "giants" also open up the goal of dominating the global market with different orientations.

Specifically, HYBE plans to maximize the effectiveness of its global development strategy through the keyword “multi-label”. Specifically, HYBE focuses on developing music groups under its subsidiaries such as: Big Hit Music, Source Music, Pledis Entertainment, Belift Lab, KOZ Entertainment and ADOR.

Recently, the success of two girl groups NewJeans (HYBE Labels) and Le Sserafim (Source Music) has helped HYBE successfully reduce 65% of its dependence on BTS, according to Naver.

According to the 2023 business strategy report, HYBE will continue to strengthen its presence in the global music industry by successively debuting boy groups from Pledis Entertainment - the unit managing Seventeen and KOZ Entertainment - the label headed by Zico.

As for SM Entertainment, the company continues to develop with a strategy of “expansion”, specifically developing and connecting through culture without the boundaries of reality, age or generation.

Highlighting this strategy, the company will debut a new sub-unit in Japan. Another boy group outside of the NCT system will also debut early this year.

Music groups under JYP Entertainment

The strategy of “Globalization through localization” that JYP Entertainment has repeatedly announced will be officially implemented in 2023.

A typical example is the release of a Korean album by Japanese group NiziU. This year, the company will debut a Chinese group through Project C, the male version of Japanese NiziU. In addition, A2K, a project to debut a global girl group operating in North America, is also underway.

With YG Entertainment, after 5 years of crisis due to the private scandals of its management team, staff, and artists, in 2023, the "big brother" continues its journey of "Restoring reputation".

Faced with fierce competition and the rise of many powerful companies, YG Entertainment's journey has certainly never been easy.

However, Naver said, experts believe that the company still has a chance to restore its prosperity as YG founder Yang Hyun Suk has just been declared innocent of all charges. In fact, Yang Hyun Suk is the one who made YG's glory. His return is also expected to revive YG's unique musical color and personality.