The Exodus of YG Entertainment’s Original Artists
YG Entertainment is a well-known Korean music label. The company was founded in 1996 by Yang Hyun-suk, a former member of the legendary Korean group, Seo Taiji and Boys. YG initially focused on hip-hop music before branching out. The label is also known for its diverse group of artists, collectively known as the YG Family. The group consists of multi-talented individuals who excel in different areas of music, including singers, rappers, and producers. The original YG Family members include BIGBANG, 2NE1, EPIK HIGH, PSY, and Lee Hi. YG Entertainment has always been a prominent name in the Korean music industry. The company has produced numerous hit songs and created some of the most popular K-pop stars. However, things have started to go downhill for the company in recent times.
The departure of key members of the YG family was the beginning of the end for the company. The members who left included some big names, such as Park Bom, and the rest of the girls of 2NE1, and most notably, BIGBANG‘s Seungri facing his allegation. These departures created a significant void in the company and negatively affected its image. Moreover, scandals and controversies surround the company.
YG Entertainment’s involvement in several scandals and controversies tainted the company’s reputation. The illegal gambling accusations against BIGBANG’s Seungri and the use of illicit drugs by iKON’s B.I. were some of the significant blows to the company. YG Entertainment’s response to the crisis was also disappointing. The company’s initial response to the scandal was inadequate, and it failed to act promptly. YG Entertainment’s CEO, Yang Hyun Suk, resigned following the controversy, but it was too little too late.
Notable artists have also left the family including Lee Hi, who gained recognition through her participation in the reality show “K-pop Star” and released several successful singles under YG Entertainment. However, after facing a hiatus and struggling with musical releases, she left the agency. She signed with AOMG, Jay Park’s label in 2019. PSY, known for his global hit “Gangnam Style,” was one of YG Entertainment’s most successful artists. But, in 2018, he established his own entertainment company, P NATION, signaling his departure from YG Entertainment. Epik High also decided not to renew its contract with YG Entertainment in the same year and parted ways with the agency. The group cited creative differences and a desire for more artistic freedom as the main reasons for their departure. Since then, Epik High has continued to release music independently and garnered critical acclaim for their work.
One of the biggest assets of the company, T.O.P., Taeyang, and Daesung, three members of the K-pop group BIGBANG, have left the agency in 2022. Although Taeyang joined YG Entertainment’s subsidiary company THEBLACKLABEL as an artist, the original company made it clear that there was no bad blood between them and their former artist. On June 6, 2023, G-Dragon‘s exclusive contract with YG Entertainment ended and was made known to the public, which caused YG Entertainment to drop to $130 million in market cap value.
To sum it up, the departure of key members, coupled with the scandals and controversies, and YG Entertainment’s inability to handle the crisis appropriately, led to the company’s near-collapse. The once-powerful company struggled to rebuild its image and reputation. YG Entertainment has always been home to some of the biggest names in K-Pop. But as we mentioned earlier, things haven’t always been smooth sailing for the company. Following the departure of some key members, YG Entertainment had a lot of rebuilding to do.
