BLACKPINK still carries the glory of the past

Although still one of the top 4 companies in Kpop alongside SM, JYP and HYBE, for nearly a decade YG has not been able to launch another group capable of inheriting the global aura that BLACKPINK has created.

BLACKPINK, the girl group that changed the Kpop landscape, debuted in 2016 and is still the financial and reputational pillar of YG. Meanwhile, the two new groups, TREASURE (debuted in 2020) and BABYMONSTER (2024), have not achieved the same success as their predecessors. Currently, BABYMONSTER is expected to help YG return to its glory days, but this momentum is also very fragile.

According to data from Kpop Radar, only BLACKPINK and BABYMONSTER made it into the top 20 most prominent artists in Korea in 2024, ranking 14th and 19th respectively. Notably, BLACKPINK dropped one rank compared to last year due to the return of BTS members after military service. Meanwhile, BABYMONSTER entered the chart for the first time.

Producer Yang Hyun Suk shares about the company’s business plan for 2025 (Photo: YG Entertainment)

Globally, BLACKPINK remains strong alongside BTS, while BABYMONSTER has made a notable leap to No. 4. However, the chart breakthrough has not yet been reflected in domestic public perception. “For a girl group from a top agency, BABYMONSTER has yet to make a mark compared to other groups that debuted around the same time,” critic Lim Hee Yun commented.

BLACKPINK is still the most valuable asset YG owns. The contract story lasts from August to December 2023, but YG still cannot renew the individual contracts with this quartet.

The famous girl group has just officially kicked off their Deadline World Tour with two shows at Goyang Stadium (South Korea) attracting 78,000 spectators. This is their return to the stage with the full lineup after nearly three years since Born Pink – a tour that set a record of more than 1.8 million spectators.

BLACKPINK at the opening night of Deadline World Tour (Photo: YG Entertainment)

For more than three hours, the group performed 25 songs, attracting tens of thousands of fans to sing along, including a series of famous songs such as: Ddu-Du Ddu-Du, Kill This Love, Boombayah, As If It’s Your Last, How You Like That, Pink Venom, Playing With Fire, Shut Down . Besides the group songs, the members also performed solo stages, showing their own unique musical colors and personalities.

Notably, BLACKPINK has released a new song, Jump, which will be officially released next week, paving the way for a new album expected to be released later this year. However, this song has received mixed reviews from Korean audiences. Many people think that the lyrics are too bland and lack highlights. The music and choreography are also simple, without any breakthroughs. This song is not worthy of the comeback of a global group like BLACKPINK.

Group BABYMONSTER (Photo: YG Entertainment)

YG’s New Hope

YG’s past success was largely due to investing heavily in influential groups. But the K-pop market is very different now. Competition is fierce, with even mid-sized companies producing breakthrough artists. Waiting for another BLACKPINK hit no longer seems like a viable strategy.

Hopes are now pinned on YG’s new girl group set to debut later this year. Producer Yang Hyun Suk describes the group as “the next key players to inherit YG’s girl group legacy,” a statement that puts the company on the brink of either huge success or crushing failure.

Music expert Lim Hee Yun commented: “Every year, hundreds of groups debut. Even with a strong lineup, it is important for companies to invest in the next generation early. That is the only way to maintain a stable and long-term source of revenue. In the K-pop world, loyal fans expect not only music, but also artists with high moral standards and emotional commitment to the public. Just a small scandal is enough to make them turn their backs or switch to supporting a younger, more attractive rookie.”