Mnet’s long-running hip-hop survival program Show Me the Money 12 has made an unsteady and deeply concerning return, debuting to near-total public indifference.
The first episode of Show Me the Money 12 aired on January 15, marking the franchise’s comeback after a three-year hiatus. With expanded global auditions and an impressive 36,000 applicants, expectations were high that the show would reignite interest in Korea’s hip-hop scene.
The lineup included several well-known names from the industry, ranging from active rappers to controversial figures. Among them were Microdot previously removed from the entertainment industry due to his parents’ debt fraud scandal alongside Khundi Panda, Fleeky Bang, Tray B, High School Rapper 2 winner Kim Haon, Kwon Oh Sun, Kim Ki Tae, and Raf Sandou.
Despite the star power, the premiere told a different story. According to Nielsen Korea (Seoul metropolitan area), Show Me the Money 12 recorded an average and peak viewership rating of just 0.6%, immediately placing it in the 0% range a humiliating result for a flagship audition program.
Even a heavyweight producer lineup featuring Zico, Gray, Crush, Loco, and Jay Park failed to generate traction.
When compared to previous seasons, the decline is stark. Season 11 debuted at 1.2%, Season 10 at 1.3%, Season 9 at 1.1%, and Season 6 peaked at 2.2%. Against this backdrop, Season 12’s opening numbers are being widely described as nothing short of a disaster.
The implications are especially severe given the nature of audition programs, which traditionally record their highest ratings at launch before gradually declining. Opening at 0.6% suggests that public anticipation for the series has all but evaporated.
Industry observers note that Season 11 itself saw ratings fall from 1.2% to as low as 0.6%, ultimately ending at 0.8%. With Season 12 starting at the same low point, analysts believe even the show’s core fanbase may have collapsed casting doubt on any possibility of a rebound.
Several factors are being cited as reasons for the franchise’s downfall. Viewer fatigue with repetitive formats, lingering disappointment from Season 11, and shifting viewing habits are chief among them. Iconic elements such as the “fire pit evaluation” and aggressive editing styles are no longer seen as fresh or engaging.
Additionally, the core hip-hop audience primarily teens and viewers in their 20s has largely migrated away from live television, opting instead for YouTube clips and short-form content.
There is also growing sentiment that hip-hop itself has lost cultural appeal. Repeated scandals involving rappersn from military service evasion to drug offenses have eroded the genre’s “cool” image. Once associated with authenticity and struggle narratives, hip-hop is now often mocked online with the slang term “hip-jjil-i,” reflecting public cynicism.
In response to criticism, Mnet released a statement on January 16 emphasizing that the show ranked first among teenage viewers and men in their 20s during its time slot, including terrestrial broadcasters (AGB Nielsen, paid households in the metropolitan area). However, many critics argue that such claims do little to offset the humiliation of a 0.6% premiere rating.
As Show Me the Money 12 moves forward, questions loom larger than ever not just about the future of the franchise, but about whether televised hip-hop survival programs still have a place in Korea’s rapidly evolving entertainment landscape.
Sources: Daum