Will YG’s bets on 2NE1, Blackpink pay off?
(From left) 2NE1 and Blackpink. Images: Instagram/@chaelincl, @blackpink
Legendary girl group 2NE1 will reunite for concerts and Blackpink will set off on a much-anticipated world tour next year.
Yang Hyun-suk, founder and chief producer of YG Entertainment, revealed the company’s short-term plan Monday via its YouTube channel, announcing 2NE1 concerts in the second half of this year and Blackpink concerts next year. He also hinted that YG Entertainment is preparing a new K-pop band to debut soon.
The most eye-catching announcement is the comeback of 2NE1, nearly eight years since it disbanded. According to Yang, 2NE1 will hold concerts in Seoul starting in early October, followed by performances in Osaka and Tokyo in November and December, respectively.
“We are currently adjusting the schedule for additional shows. I believe these concerts will be very special, as the generation that grew up with 2NE1 will be able to share their memories,” Yang said.
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2NE1, YG Entertainment’s first girl group, debuted in 2009 and went on to become a top-tier second-generation K-pop group with numerous hit songs, such as “I Don’t Care,” “I Am the Best,” “Lonely,” “Ugly” and “Come Back Home,” before the agency abruptly disbanded the group in 2016.
The 2NE1 reunion concerts and Blackpink world tour, seen as part of YG Entertainment’s attempt at a rebound, are unlikely to succeed in achieving that goal, however.
Industry insiders suggest that the K-pop powerhouse is merely exploring business opportunities and will not be able to overcome its slump brought on by the 2018 Burning Sun scandal that continued with the departure of Blackpink members for solo activities last year and the unsuccessful promotion of Baby Monster, its latest girl group.
A former official from YG Entertainment noted that while 2NE1’s comeback holds significance, its overall impact remains modest.
“The return of 2NE1 is good news for the fans. They have a lot of hit songs, which are still trendy,” a former YG Entertainment official said Tuesday. “However, the concerts celebrating the group’s 15th anniversary could end up a mere pop-up event unless 2NE1’s comeback is a success and leads to a new album,” the official said. “It seems more about fostering unity (between 2NE1 and YG Entertainment) and creating opportunities for their further engagement.”
YG Entertainment also admitted that Yang’s announcement lacked specific intentions and was merely a sharing of the company’s short-term agenda.
The return of Blackpink as a complete group next year is another notable announcement. Yang hinted, “Next year marks the beginning of Blackpink’s comeback and world tour.”
Blackpink, which debuted in 2016 following in the footsteps of 2NE1, has released a bevy of hit songs that include “Boombayah,” “Kill This Love” and “Ddu-Du Ddu-Du,” establishing itself as a global idol group. With Big Bang on a “hiatus” and 2NE1 disbanded, Blackpink has been a crucial driver of YG Entertainment’s business.
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However, last December, Blackpink members only renewed their group contract with YG Entertainment, leaving the company for solo activities. Rose moved to The Black Label, while the other three established independent labels.
YG Entertainment is in need of new intellectual property, which is expected to be addressed by the upcoming new K-pop band that Yang mentioned.
However, the entertainment company has faced criticism for failing to innovate musically after Blackpink.
“YG Entertainment is all about hip-hop music, which is its identity, but this has prevented them from following global music trends and introducing new groups with different styles,” a local entertainment official said Wednesday. “BabyMonster, for example, does not differ much in style from Blackpink, which is why it failed to gain global popularity like Blackpink.”
Music critic Kim Do-heon believes YG Entertainment should use this momentum wisely. “Yang disclosed the company’s short-term road map, which has garnered a lot of fan expectations. … The key point is whether it can bounce back from the brink of failure to success,” Kim said Tuesday.
“What’s crucial is whether 2NE1’s activities involve releasing a new album or if YG Entertainment is just supporting its tour. Previously, YG relied heavily on Blackpink as its main intellectual property, but now it has the additional asset of 2NE1. This increases their strategic options,” Kim added.
