SEOUL, Jan 23 — K-pop’s once-unyielding growth is now showing signs of faltering, raising concerns about the lack of globally dominant groups to sustain the genre’s...
Japan, one of K-pop’s top three export markets alongside the US and China, saw a significant decline in demand. — Viacom handout pic via Reutersas a first-time user . Exclusively for Malay Mail readers: Use codeSEOUL, Jan 23 — K-pop’s once-unyielding growth is now showing signs of faltering, raising concerns about the lack of globally dominant groups to sustain the genre’s popularity after the hiatus of BTS and Blackpink .
K-pop album exports and sales, which had surged in tandem with the global hallyu , experienced a notable slowdown last year. According to the Circle Chart, operated by the Korea Music Content Association, physical album sales in 2023 totalled 98.9 million units—marking a 17.7 percent drop from 2022’s 120.2 million units.
“Concert revenue is another significant factor, accounting for 50 to 60 percent of a K-pop agency’s total revenue. This trend is closely tied to merchandise sales, underscoring the need to analyse these aspects together when evaluating the industry’s performance,” she was reported saying.
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