by K-pop, which increased despite the global pandemic of the new coronavirus infection (Corona 19) last year, flew even more this year. But, of course, there were variables such as the enlistment of the group BTS and the change from the 3rd generation to the 4th generation of idols. Still, new blood was transfused into K-pop as the 4th generation idols, the fruit of the investment, produced meaningful results.
According to the Korea Customs Service’s import and export trade statistics on the 24th, the number of album exports between January and November of this year was 215.69 million dollars (approximately 282.5 billion won), up 5.6% from the same period last year. Considering that the annual export amount last year was 220.85 million dollars, there are observations that this year will easily break the record.
Progress such as Ive and New Jeans… Widely open ‘fourth-generation market.’
In the increase in exports, the role of Stray Kids, Seventeen, Black Pink, and NCT Dream, which are vital in album sales, led by BTS, played a significant role. Based on the Circle Chart (formerly Gaon Chart), BTS and Stray Kids achieved triple million sellers (single album sales of more than 3 million copies), and Seventeen, Blackpink, and NCT Dream recorded double million sellers (single album sales of more than 2 million copies).
In particular, the performance of the new girl group stands out. 4th-generation idols such as Ive and Aespa became a hot topic by achieving a million sellers (selling more than 1 million copies of a single album). Considering that the group BLACKPINK became the first K-pop girl group to become a million-seller four years after their debut with their 1st regular album ‘THE ALBUM’ in 2020, the growth rate of 4th generation idols who have been active for just over a year is different.
Kim Jin-woo, the senior researcher at Circle Chart, cited the growth of girl groups as the most significant factor behind the increase in physical album sales this year. He said, “The number of male artists with cumulative sales of over 1 million copies decreased by one from 12 last year to 11 this year, while female artists increased significantly from 1 last year to 10 this year.” As a result, it has led to an increase in overall album sales.
The changing topography of K-pop consumption… as a growth engine The diversification of major K-pop-consuming countries is also considered a growth engine. When the amount of music exports from January to November is broken down by country, Japan ranked first with $77.513 million (101.4 billion won). China ranked second with $50.879 million (66.5 billion won), and the United States ranked third with $35.288 million (46.2 billion won). Taiwan, Thailand, the Netherlands, Germany, Hong Kong, Indonesia, and France followed it. In addition, Malta, Maldives, Sri Lanka, and Iceland were included as countries with K-pop record exports. According to the ‘2022 K-pop World Map’ released by Space Oddity, a startup specializing in K-pop, global consumption of K-pop increased 2.5 times during the COVID-19 pandemic, and significant consuming countries also changed significantly.
Furthermore, a survey based on music video views yielded encouraging results in Japan and India. Japan was ranked 5th among K-pop consuming countries (excluding Korea) three years ago, but this year it has risen to 1st place, while India, which was considered a ‘K-pop wasteland’ and was not even on the list, advanced to 3rd place. Regarding the expansion of K-pop consuming countries, K-Pop Radar said, “Thanks to the success of fourth-generation idols who debuted during the pandemic added to the market established by BTS and Blackpink.” In addition, ·StayC, Nmix, Le Seraphim, Weekly, Billy, etc. have achieved good results by releasing online concerts and video content.”
K-pop, which increased despite the global pandemic of the new coronavirus infection (Corona 19) last year, flew even more this year. But, of course, there were variables such as the enlistment of the group BTS and the change from the 3rd generation to the 4th generation of idols. Still, new blood was transfused into K-pop as the 4th generation idols, the fruit of the investment, produced meaningful results.
According to the Korea Customs Service’s import and export trade statistics on the 24th, the number of album exports between January and November of this year was 215.69 million dollars (approximately 282.5 billion won), up 5.6% from the same period last year. Considering that the annual export amount last year was 220.85 million dollars, there are observations that this year will easily break the record.
Progress like Ive and New Jeans Widely open the ‘fourth-generation market.’
In the increase in exports, the role of Stray Kids, Seventeen, Black Pink, and NCT Dream, which are vital in album sales, led by BTS, played a significant role. Based on the Circle Chart (formerly Gaon Chart), BTS and Stray Kids achieved triple million sellers (single album sales of more than 3 million copies), and Seventeen, Blackpink, and NCT Dream recorded double million sellers (single album sales of more than 2 million copies).
In particular, the performance of the new girl group stands out. 4th-generation idols such as Ive and Aespa became a hot topic by achieving a million sellers (selling more than 1 million copies of a single album). Considering that the group BLACKPINK became the first K-pop girl group to become a million-seller four years after their debut with their 1st regular album ‘THE ALBUM’ in 2020, the growth rate of 4th generation idols who have been active for just over a year is different.
Kim Jin-woo, the senior researcher at Circle Chart, cited the growth of girl groups as the most significant factor behind the increase in physical album sales this year. He said, “The number of male artists with cumulative sales of over 1 million copies decreased by one from 12 last year to 11 this year, while female artists increased significantly from 1 last year to 10 this year.” As a result, it has led to an increase in overall album sales.
The changing topography of K-pop consumption… as a growth engine The diversification of major K-pop-consuming countries is also considered a growth engine. When the amount of music exports from January to November is broken down by country, Japan ranked first with $77.513 million (101.4 billion won). China ranked second with $50.879 million (66.5 billion won), and the United States ranked third with $35.288 million (46.2 billion won). Taiwan, Thailand, the Netherlands, Germany, Hong Kong, Indonesia, and France followed it. In addition, Malta, Maldives, Sri Lanka, and Iceland were included as countries with K-pop record exports. According to the ‘2022 K-pop World Map’ released by Space Oddity, a startup specializing in K-pop, global consumption of K-pop increased 2.5 times during the COVID-19 pandemic, and significant consuming countries also changed significantly.
Furthermore, a survey based on music video views yielded encouraging results in Japan and India. Japan was ranked 5th among K-pop consuming countries (excluding Korea) three years ago, but this year it has risen to 1st place, while India, which was considered a ‘K-pop wasteland’ and was not even on the list, advanced to 3rd place. Regarding the expansion of K-pop consuming countries, K-Pop Radar said, “Thanks to the success of fourth-generation idols who debuted during the pandemic added to the market established by BTS and Blackpink.” In addition, ·StayC, Nmix, Le Seraphim, Weekly, Billy, etc. have achieved good results by releasing online concerts and video content.”
K-pop, which increased despite the global pandemic of the new coronavirus infection (Corona 19) last year, flew even more this year. But, of course, there were variables such as the enlistment of the group BTS and the change from the 3rd generation to the 4th generation of idols. Still, new blood was transfused into K-pop as the 4th generation idols, the fruit of the investment, produced meaningful results.
According to the Korea Customs Service’s import and export trade statistics on the 24th, the number of album exports between January and November of this year was 215.69 million dollars (approximately 282.5 billion won), up 5.6% from the same period last year. Considering that the annual export amount last year was 220.85 million dollars, there are observations that this year will easily break the record.
Progress like Ive and New Jeans Widely open the ‘fourth-generation market.’
In the increase in exports, the role of Stray Kids, Seventeen, Black Pink, and NCT Dream, which are vital in album sales, led by BTS, played a significant role. Based on the Circle Chart (formerly Gaon Chart), BTS and Stray Kids achieved triple million sellers (single album sales of more than 3 million copies), and Seventeen, Blackpink, and NCT Dream recorded double million sellers (single album sales of more than 2 million copies).
In particular, the performance of the new girl group stands out. 4th-generation idols such as Ive and Aespa became a hot topic by achieving a million sellers (selling more than 1 million copies of a single album). Considering that the group BLACKPINK became the first K-pop girl group to become a million-seller four years after their debut with their 1st regular album ‘THE ALBUM’ in 2020, the growth rate of 4th generation idols who have been active for just over a year is different.
Kim Jin-woo, the senior researcher at Circle Chart, cited the growth of girl groups as the most significant factor behind the increase in physical album sales this year. He said, “The number of male artists with cumulative sales of over 1 million copies decreased by one from 12 last year to 11 this year, while female artists increased significantly from 1 last year to 10 this year.” As a result, it has led to an increase in overall album sales.
The changing topography of K-pop consumption… as a growth engine The diversification of major K-pop-consuming countries is also considered a growth engine. When the amount of music exports from January to November is broken down by country, Japan ranked first with $77.513 million (101.4 billion won). China ranked second with $50.879 million (66.5 billion won), and the United States ranked third with $35.288 million (46.2 billion won). Taiwan, Thailand, the Netherlands, Germany, Hong Kong, Indonesia, and France followed it. In addition, Malta, Maldives, Sri Lanka, and Iceland were included as countries with K-pop record exports. According to the ‘2022 K-pop World Map’ released by Space Oddity, a startup specializing in K-pop, global consumption of K-pop increased 2.5 times during the COVID-19 pandemic, and significant consuming countries also changed significantly.
Furthermore, a survey based on music video views yielded encouraging results in Japan and India. Japan was ranked 5th among K-pop consuming countries (excluding Korea) three years ago, but this year it has risen to 1st place, while India, which was considered a ‘K-pop wasteland’ and was not even on the list, advanced to 3rd place. Regarding the expansion of K-pop consuming countries, K-Pop Radar said, “Thanks to the success of fourth-generation idols who debuted during the pandemic added to the market established by BTS and Blackpink.” In addition, ·StayC, Nmix, Le Seraphim, Weekly, Billy, etc. have achieved good results by releasing online concerts and video content.”
