The biggest names in K-pop are trying to join forces, but the people who pay the bills—the fans—are not happy about it. HYBE, SM Entertainment, JYP Entertainment, and YG Entertainment announced plans to create a massive global music festival together. The goal is to build a “Korean Coachella” named Fanomenon. However, instead of excitement, the news has created a wave of anger online. Supporters are accusing the “Big 4” of trying to create a monopoly and ruining the competition that makes K-pop interesting.
The Plan for a “Korean Coachella”
The four entertainment giants have submitted paperwork to the Fair Trade Commission to start a joint business. This new company will run a festival called “Fanomenon,” a name that mixes “fan” with “phenomenon.” JYP Entertainment founder Park Jin-young is leading this project.
The plan is very big. The first event is scheduled for December 2027 in South Korea. After that, the festival will travel to major cities around the world starting in May 2028. The companies want to copy the money-making success of the real Coachella, which makes about $700 million every year. They believe that by working together, they can grow the Hallyu wave much faster than they could alone.
A representative from JYP Entertainment stated:
“It is true that we are discussing a public-private partnership model with the government’s Presidential Committee on Popular Culture Exchange to expand the global reach of the K-culture industry.”
Fans Say “No One Wants This”
While the companies see a smart business move, fans see a problem. On social media, the reaction has been mostly negative. Many believe that if these four companies control the biggest festival, smaller labels will have no chance to show their talent. The main complaint is about fairness and the lack of competition.
One user on X (formerly Twitter) summed up the feeling of many:
“No one wants this. Each agency has their own issues with lawsuits and contracts. Fix your own houses before trying to build a festival.”
The Fear of a K-pop Monopoly
The biggest worry is that the “Big 4” will control everything. If HYBE, SM, YG, and JYP run the only major K-pop festival, they can decide which artists become famous and which ones do not. Independent artists or groups from small companies might get pushed out completely.
Fans are also worried that ticket prices will become too high. With four companies working together, they have less reason to compete on price. This news comes just months after HYBE faced criticism for reportedly trying to buy a 50% stake in the real Coachella using BTS ‘s tour rights. That deal did not happen, but fans see this “Fanomenon” festival as the company trying to build its own festival instead.
Internal Problems and Trust Issues
Many fans are pointing out that these companies are fighting their own legal battles right now. They are asking how the companies can work together on a festival when they cannot even manage their own artists.
YG Entertainment is still dealing with the aftermath of the Burning Sun scandal, which damaged the company’s reputation. SM Entertainment has gone through major changes in leadership and ownership fights. HYBE is currently in a public disagreement with Min Hee-jin, the CEO of ADOR (home to NewJeans). Fans argue that the companies should focus on these problems instead of planning a festival two years away.
Hopes for an Amazing Lineup
Despite the anger about the business side, some fans admit that the potential lineups could be history-making. Pictures made by fans showing BTS, Blackpink, Big Bang, Twice, and NewJeans on the same stage are spreading fast online. For a regular music fan, the idea of seeing all those top groups in one place is exciting.
One user shared a mix of excitement and worry:
“The idea is really nice, but the execution scares me. There is a vision, but there is no trust.”
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The Irony of the Anti-Monopoly Plan
The project has a very difficult problem to solve. Because HYBE is a huge corporation and SM is part of the Kakao Group, the new joint business must be checked by the Fair Trade Commission. The government has to decide if this partnership hurts the market.
It is very ironic that the four companies need government permission to make sure they are not breaking monopoly laws. Even the government is watching to see if this “Coachella-style” festival is good for business or just good for the Big 4.
The festival is still in the very early planning stages. Nothing is officially confirmed yet regarding which artists will perform or how the company will be run. However, the message from the global fanbase is very clear right now: they do not want the K-pop industry to become a closed club for the rich and powerful.
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