HYBE·SM·JYP·YG Join Forces… Pushing for “Korea’s Coachella” Phenomenon ‘Fanomenon’

An unprecedented ‘Big4’ alliance launches a joint venture (JV) to seize global dominance

Holding absolute power in South Korea’s music scene, agencies often referred to as the so-called ‘Big4’—‘HYBE’, ‘SM Entertainment’, ‘JYP Entertainment’, and ‘YG Entertainment’—are building a united front like never before. They are moving in earnest to fast-track the establishment of a ‘joint venture (JV)’ with the goal of hosting an ultra-large global festival centered on ‘K-pop’.

According to key figures in the music industry on the 16th, the four major agencies have begun formal company-formation procedures to launch the global mega event ‘Fanomenon’, driven by fans around the world. This is seen as a core collaboration model that maximizes the global expansion potential of ‘K-culture’ as a whole—going beyond simple cooperation between agencies. They are currently going through essential legal procedures, including merger-and-acquisition reporting with the Fair Trade Commission, and are carefully reviewing the detailed ownership structure and collaboration methods.

The birth of ‘Fanomenon’ that aims to top Coachella—leaping to a national-level ‘mega event’

The seed of this ultra-large project sprouted at the launch ceremony of the ‘Presidential Committee on Cultural Exchange’ in October last year, where President Lee Jae-myung attended. The national-scale mega-event vision proposed at the time by Park Jin-young, the JYP CEO and co-chair designated for the role, has now become reality. The project name ‘Fanomenon’ combines ‘Fan’ and ‘Phenomenon’ and refers to a one-of-a-kind cultural festival that brings together the explosive energy of K-pop fandoms worldwide.

Park Jin-young, the chair’s blueprint, is firm and clear. After hosting the inaugural ‘Fanomenon’ festival in Korea in December 2027 in grand fashion, they plan to kick off a global tour starting in May 2028, visiting major cities around the world in sequence. The aim is to cultivate it into a world-class festival that surpasses the reputation of Coachella Valley Music and Arts Festival, the United States’ signature music festival.

Currently, the ‘Big4’ agencies are in the stage of aligning on the project’s specific scale and detailed operating model. Going forward, they plan to gather forecasts from multiple angles regarding global market conditions and public opinion from fandoms worldwide, then make the optimal decision to reshape the global music market landscape.

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