Big Hit is being hailed as a new big company of Kpop but is this company really “ready”?
These days, when the scandal of Seungri and his friends is getting exposed, it seems that bad luck still continues to surround YG and Yang Hyun Suk. Recently, an article in Korea caused a stir in the public opinion when saying YG was in danger of losing its position in Big3 and the two companies together with SM and JYP created the “Big 4” are Big Hit and CJ E&M.
While the online community is still debating and giving mixed opinions about this issue, many Big Hit‘s supporters (most of them are BTS‘s fans) seem to be humble and not having the ambition that the company will win any Big 3 or Big 4 position with YG.
Although Big 3 or Big 4 is just a name given by the public and the fans, it is no coincidence that this title is valued and promoted so high. Either way, being in Big 3 or Big 4 is a great honor and brings many advantages for an entertainment company.
This is the recognition of the media and the public
Big3 or Big4 is not an award voted by fans or professionals but it’s not much different. To be honored as a “big” company, an entertainment company must show superiority in many ways compared to the other names, from the quality of music, the popularity of their artists to the financial business situation. Moreover, it must be considered after a long period of development, not just after a year or a few years. All these conditions are judged through the public’s objective view.
Therefore, once the company is praised by the media, called “Big” by the audience, it means that they have gained huge recognition from the public. It’s like a Daesang award for entertainment companies.
That’s why SM, JYP, YG have always held the Big3 title for the past decade, although there are more and more new companies appearing. All three companies have a long history of development, creating many generations of legendary artists and shaping music trends for Kpop, received by domestic and foreign fans.
The more reputation they have, the easier to attract trainees
Being in Big 3 or Big 4 is an indisputable advantage for the company. The success of artists from SM, YG or JYP is a clear and reliable example for any talent who is dreaming of becoming an idol. Although there are always exceptions, if one is choosing between a reputable and powerful Big 3 company and a weaker opponent, it is hard for anyone to miss the opportunity to be a “family member” of SNSD, Big Bang or EXO. TWICE, BlackPink, … to have a successful career like the seniors.
That’s why companies called “big” will easily attract more talented and beautiful trainees. If they are in Big 4, Big Hit will further assert their position in the Kpop music industry and easily recruit more talent.
Attract the investors
The title Big3 or Big4 not only bring recognition from the public but also builds trust and attracts domestic and foreign investors. In order to be able to develop in long-term, expand the scale and create the best conditions for their artists, the companies cannot rely on the capital of a few individuals but will need investment and funding from outside.
Similar to YG, SM and JYP, if they want to expand their activities and develop long term, Big Hit will have to bring them to the stock market soon and expand their scale of capital. In addition to the usual financial reports, the reputation of a powerful and recognized company will create more confidence for the investors. Therefore, it’s also easier to find funding or cooperation opportunities.
However, despite being extremely successful, is Big Hit really ready to join “Big 4” yet? That’s a question of many people.
It’s undeniable that BTS has single-handedly taken the management company to a new level to be compared with the older men in Big3 but this is also the risk that Big Hit is having. If the income of SM, JYP or YG comes from many artists with the most popular in Kpop, it is almost like BTS is the one who brings nearly 100% of Big Hit‘s revenue.
Not to mention that SM, YG, JYP have many generations of idols, who are able to take turns taking over the company, Bang Shi Hyuk only has Bangtan. An unquestionable fact is that BTS will also pass through its peak period and cannot help the company maintain its current positive business situation. Big Hit will soon have to get rid of the “hot growth” like the past few years if it wants to develop long term stability.
The future of rookie TXT is still a big question mark. The debut of rookie TXT is a testament to the Big Hit‘s unwillingness to rely on BTS. Thanks to the wonders of 7 boys, the juniors group also received expectations and support from a large number of fans around the globe. This is a great advantage that only TXT can get, helping the team to move faster than other recruits on the way to conquer fans.
However, after the debut of JYP‘s ITZY, it can be said that TXT has not responded to expectations from the public. This raises the question of whether Big Hit can actually create a new group comparable to the artists of SM, YG, JYP or BTS is just the only fortunes this company has.
Artists lack diversity is also a problem that Big Hit encountered. After the failure of girl group Glam, Big Hit created BTS and then TXT, another boy group. The lack of diversity in this artist force is also a weakness of Big Hit compared to Big3 when the music of the girl group is still more satisfied with the general public. In addition, fans of female artists tend to have a better balance between men and women more than male idol. Clear evidence can be found from SNSD, TWICE or BlackPink.
It is often said that luck comes only to those who have the effort and success of BTS and Big Hit. In order to make such a feat, it is not only based on the talent and personality of the 7 boys but also thanks to the proper strategies, training, and participation of the whole company. It is not easy that Big Hit is loved by fans as much as the idol without being boycotted by fans like YG‘s recent situation.
In addition, Big Hit is also making efforts, strengthening enrollment activities to recruit new talents. The company most recently has been cooperating with CJ to create a new male group, after TXT.
However, in order to gain recognition from the public and the media, Big Hit still needs more time, proving through the next project which is the rookie TXT. At that time, whether Big Hit stands alone or named in the “power quartet”, it will not be considered as luck only.