Industry officials predicted the "biggest girl group competition" that will happen in the first half of 2024. Who are competing?
Music Officials Predict BABYMONSTER vs THEBLACKLABEL's Girl Group Will Become 'Biggest Match' in Music Industry
On February 15, a news outlet released an article showing its anticipation of the upcoming battle between Teddy Park, THEBLACKLABEL's founder and YG's Yang Hyun Suk, who were once under the same agency.
Among K-pop groups that officials are paying keen attention to, the official debut of BABYMONSTER in April and THEBLACKLABEL's upcoming girl group are the ones earning the highest anticipation.
An official said:
"There will be a big match between the two companies, which are like two families on one roof. It will show its presence as a new mega issue that will break the BLACKPINK issue. Girl groups produced by Yang Hyun Suk and Teddy, respectively, will face off in the K-pop market."
In particular, YG Entertainment will aim its sword first with BABYMONSTER's official debut in April.
In November last year, they released their debut song "BATTER UP" without any promotional activities. This was after significant member Ahyeon announced her hiatus due to health issues ahead of their debut.
As a result, BAEMON delayed their official debut stage, in line with the release of their 1st mini-album. Finally, they will have their release as a complete seven-member group with Ahyeon.
Among soon-to-debut girl groups, their prospective rival would be THEBLACKLABEL's upcoming girl group.
Earlier on February 6, photos of their trainees, expected to debut in the first half of this year, leaked online.
What attracted attention was the members' lineup. Among them is Moon Seo Yoon, the eldest daughter of Shinsegae Group CEO Chung Yoo Kyung.
There is also Ella Gross, a child model who first rose to fame in the K-pop scene for being a BLACKPINK Jennie-lookalike.
Once they make their debut, they will face off against YG Entertainment's BABYMONSTER, which is called the "next BLACKPINK."
Teddy Park vs Yang Hyun Suk: Will He Surpass YG Entertainment's Founder?
The reason this will be the biggest match among girl groups is because, technically, it is a competition within the "family."
Among the YG Entertainment girl groups starting from 2NE1 and BLACKPINK, BAEMON is the only group that Teddy has not participated in production as a member of YG. It is also a girl group whose executive producer Yang Hyun Suk produced everything from start to finish.
THEBLACKLABEL is still an affiliate company of YG Entertainment amid independence in production, thus, attention is focused on who among Teddy or Yang will succeed.
YG Entertainment's market capitalization is 815 billion won (approx. 611M USD), while THEBLACKLABEL, an unlisted company, is reportedly worth 1 trillion won (approx. 750M USD). Some venture capitalists say they will invest in the latter no matter what.
Whether THEBLACKLABEL can surpass YG Entertainment or not will only be revealed in the first half of this year.
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Written by Eunice Dawson.
