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 10, 2026
Kpop has officially reached its final stage of evil https://t.co/lQefLafopz
— choco (@run2chocoji) November 10, 2026
so YG, SM, HYBE and JYP are actually going forward with this new company that was registered on 26th october? this is such a bad idea cause most of these companies can barely even send their current artists to music festivals and award shows to perform so what’s even the point of… pic.twitter.com/ztCayocFYE
— ᵕ̈ (@pinksbabymon) November 10, 2026
BTS didn’t build this company with their blood, sweat, and tears just for it to turn around and engage in this kind of shitty business with the very companies that tried to sabotage them from day one. https://t.co/o3JVvVvYob
— isa (@solmerv) November 10, 2026
Damn they really abandoned their “idol union” plan to instead make more money and exploit even more idols 😭 https://t.co/h1XCOTb8Gf pic.twitter.com/sh0P9ZJ2Du
— s★fi (@haerinlune) November 10, 2026