In 2023, the K-pop industry achieved an estimated sales of around 1.24 trillion South Korean won overseas. This is the first time global sales have surpassed one trillion won. The biggest sector that year was the performances sector, which contributed about 589 billion won, almost 48 percent of the total sales value that year. However, all sectors saw growth compared to the previous year. In the same year, physical albums sold domestically as well as those sold abroad by certified sellers reached an all-time high.

In 2023, the export value of the music industry in South Korea amounted to around 1.2 billion U.S. dollars.K-popThe main export in the South Korean music industry is K-pop. Korean pop music has been increasingly popular all around the world. In 2023, a survey conducted in 26 countries across the world found that around 50 percent of respondents considered K-pop to be very popular in their country. The most popular K-pop stars worldwide were the boy group BTS. Music in South KoreaWhile K-pop is known for being successful outside of South Korea’s borders, Korean music is of course also enjoyed domestically. A 2024 survey found that ballads and K-pop were the most popular music genres in South Korea. The most popular way of listening to music in 2024 was via one's smartphone, by streaming or downloading music. While the South Korean music streaming industry was previously dominated by a handful of domestic streaming services, most notably Melon, YouTube was the most popular music streaming service in 2024.

The data set for a the article 'Social media and K-Pop: reasons for its rise and popularity'.

In 2023, overseas K-pop album sales achieved an export sales index of 451.4 points, the highest among the three sectors. This was closely followed by overseas performances, at 448.7 points. The latter was the only sector that dropped below the base year 2018, though it recovered quickly. That year, physical albums sold domestically as well as those sold abroad by certified sellers reached an all-time high.

According to a 2024 survey conducted across 28 countries, over 51 percent of respondents stated that the genre K-pop was “very popular” in their country. The popularity was at the point where K-pop was known to the general public and related products were being sold. The survey found that the popularity of K-pop reaches far beyond South Korean borders. K-pop industryK-pop is a genre of South Korean popular music. Although the term includes music of a variety of stylistic origins, it is often associated with so-called K-pop idols. Idols are usually young individuals, who are known for being good-looking, fashionable, highly trained in singing and dancing, as well as having an almost perfect image. They often make their debut in boy or girl groups, who promote their songs with music videos that feature intense choreographies. The most successful groups are often signed under South Koreas biggest agencies, were they undertake strict training before they make their debut. The K-pop entertainment company with the highest sales revenue in 2024 was HYBE, who manage multiple successful idols and labels, including global stars BTS. K-pop is constantly growingWhile the majority in Western countries have not heard about K-pop before PSY’s ‘Gangnam Style’ in 2012, Korean pop idols started to become famous in Asian countries in 2003. Singer BoA and boy group TVXQ became the first K-pop idols to successfully break into the Japanese market. With the support of the South Korean government, who saw the industries economic potential, the so-called Korean wave (hallyu) started to spread even further, and K-pop gained a global audience. Girl group BLACKPINK was the first K-pop band to headline the famous U.S. music festival Coachella in 2019. With BTS currently on hiatus due to military obligations, and album sales exploding, SEVENTEEN and Stray Kids have pulled ahead to become the biggest active boy groups in South Korea currently.

In 2024, albums released by popular K-pop group SEVENTEEN amounted to 13.6 percent of total music albums sold in South Korea that year. Other popular artists included Stray Kids and ENHYPEN. K-pop album sales SEVENTEEN and Stray Kids made history in 2023 by breaking pre-sale and general sale records, dominating the top four spots in the year's best-selling boy group albums. SEVENTEEN's album sales exceeded 16 million in 2023, surpassing even the globally renowned boy band BTS. Similarly, Stray Kids also achieved remarkable growth in album sales, doubling from the previous year to over 10 million, showcasing the group’s rising popularity. As physical album sales decreased in 2024, so did their total numbers, but their popularity is still clearly discernible. Successful artists under HYBE SEVENTEEN is under the music label Pledis Entertainment, a subsidiary of HYBE Corporation, making them label mates with BTS. In the past year, BTS members focused on solo projects or fulfilled their mandatory military service, resulting in lower group sales. Among notable artists under HYBE, NewJeans stands out, having sold a total of over eight million albums despite having had only had two full years of experience in the industry.

In 2023, the sales revenue of the music industry in South Korea totaled around 12.6 trillion South Korean won. This represents an increase of about 14.7 percent since the previous year. The music industry accounted for 8.2 percent of the total sales revenue of the domestic content industry that year. The explosion of album sales in South Korea With a massive increase in album sales in the last decade, selling music albums has become one of the main income sources for the music industry. In 2023, sales drastically rose to reach over 115 million, accelerated by the K-pop fandom tendency to buy physical albums in order to achieve benefits such as artist photo cards. As a result of this incentive, most physical album sales are seized by K-pop groups instead of individual artists. In the previous decade, the top-selling music albums were all dominated by K-pop groups, with BTS having won seven times in a row. Streaming services as a market driver Besides the explosion of album sales, online music distribution is one of the key driving forces of the successful music industry in the country. Most South Koreans prefer to access music via streaming, with domestic streaming music services still playing a major role in the industry. Internationally, YouTube is considered a necessary platform for Korean music artists for expanding their fandom as roughly 72 percent of respondents in a global survey chose the platform as the most preferred online music service for K-pop content. It has also become increasingly popular domestically.

According to a survey conducted across 28 countries in 2024, respondents stated that they spent an average of seven U.S. dollars on South Korean pop music (K-pop) content per month, an increase from about 4.5 dollars the previous year. K-Pop consumption Consumers from the United Arab Emirates (UAE) showed the highest monthly spending on K-pop, at around 23.7 dollars per month in 2024. The same survey showed that the majority of K-Pop fans used YouTube for accessing K-Pop online, while Spotify was the second most popular online service for K-pop content. Due to the vast amount of content related to K-Pop, such as music videos, behind the scene videos, variety content and more, K-pop fans usually spend a lot of time watching said content. The average time spent engaging with K-pop, was highest among Filipino fans, followed by Thai and Indonesian consumers. Fan culture and collecting K-pop content, especially CDs, usually has unique packaging which makes it attractive for consumers to buy and collect. An album usually includes a photobook and a lot of freebies such as photocards or stickers. Since the albums often include only one photocard out of many, fans often buy more copies to collect one of each member of the group. In some cases, idol groups release several versions of the same album with different photo concepts, so that avid collectors spend even more on K-pop. One example is the top-selling physical album of 2024, "SPILL THE FEELS" by SEVENTEEN, for which seven versions were available.

In 2024, BTS' label's parent company HYBE was the leading K-pop entertainment company in South Korea, with a sales revenue of around 2.3 trillion South Korean won. This put it far ahead of its competition, with SM Entertainment falling just below one trillion won. These two companies, alongside JYP Entertainment and YG Entertainment form the so-called "Big 4" of K-pop entertainment companies in South Korea, owing to their legacy, impact on the industry, financial success, and large host of successful artists. Many of the industry's leading artists are signed to one of these companies or their sub-labels.

The global girl group market is experiencing significant growth, driven by the increasing popularity of K-Pop and the expansion of the entertainment industry across various media platforms. The market, estimated at $2 billion in 2025, is projected to witness a robust Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2033, reaching approximately $6.5 billion by 2033. This expansion is fueled by several key factors. Firstly, the rise of streaming platforms and social media has broadened the reach of girl groups, creating massive global fan bases and generating substantial revenue through digital music sales, merchandise, and online concerts. Secondly, the diversification of content, encompassing film appearances, television dramas, and brand endorsements, has created multiple revenue streams for girl groups and their associated companies. Finally, the continuous evolution of the girl group concept itself, embracing diverse musical styles and incorporating innovative performance strategies, keeps the market fresh and engaging for audiences worldwide. The market segmentation reveals that debut girl groups command a significant share, reflecting the high demand for fresh talent and the intense competition within the industry. The "Performance" application segment leads in revenue generation, showcasing the crucial role of live concerts and tours in overall profitability. However, the "Film Industry" segment is exhibiting rapid growth as girl groups increasingly secure roles in movies and television series, expanding their reach and diversifying their income sources. Geographic distribution shows strong growth in Asia-Pacific, particularly South Korea and China, which are the epicenters of the K-Pop phenomenon. North America and Europe also show considerable potential for growth, driven by increasing global K-Pop fandom and the rise of Western girl groups adapting elements of the K-Pop model. Challenges, however, include intense competition, the short lifespan of some groups, and the need for continuous innovation to maintain audience engagement. Major players like YG Entertainment, JYP Entertainment, and SM Entertainment maintain a significant market share due to their established infrastructure and strong artist portfolios.

The global entertainment idol agency market is experiencing robust growth, driven by the increasing popularity of K-Pop and J-Pop, as well as the expanding global reach of entertainment content through streaming platforms and social media. The market's segmentation reveals a strong demand across various applications, including music, film and television, and live performances. The "selection mode" and "training mode" segments within the types classification represent distinct yet interconnected aspects of idol agency operations, reflecting the considerable investment in talent identification and development. While precise market sizing is unavailable, considering the significant revenue generated by prominent agencies like HYBE and SM Entertainment, along with the rising popularity of idols globally, a reasonable estimate for the 2025 market size could be placed at $10 billion, with a compound annual growth rate (CAGR) of 15% projected through 2033. This growth is fueled by factors such as the increasing globalization of entertainment, advancements in digital marketing and fan engagement strategies, and the diversification of revenue streams through merchandise, endorsements, and digital content. However, challenges exist, including intense competition among agencies, the volatile nature of entertainment trends, and the need for continuous adaptation to changing consumer preferences. Furthermore, regulatory considerations and ethical concerns related to talent management and artist well-being pose potential restraints to market expansion. The Asia-Pacific region, particularly South Korea, Japan, and China, currently holds the largest market share, reflecting the strong presence of established agencies and the immense popularity of idol culture in these regions. However, North America and Europe are emerging as key growth markets, driven by the increasing global appeal of Asian pop music and the growing interest in the idol training and management models. This expansion is facilitated by the strategic partnerships and global expansion efforts of many agencies, coupled with the proliferation of streaming services that make idol content accessible to a worldwide audience. The competitive landscape is highly concentrated, with a few dominant players, but smaller agencies and emerging independent entities also contribute to the market dynamics. Future growth will depend on the agencies' ability to innovate, maintain artist loyalty, adapt to technological advancements, and effectively navigate the complexities of the global entertainment industry.

The K-Pop Event report provides a detailed analysis of emerging investment pockets, highlighting current and future market trends. It offers strategic insights into capital flows and market shifts, guiding investors toward growth opportunities in key industry segments and regions.

The global entertainment idol agency market is a dynamic and rapidly growing sector, fueled by the ever-increasing popularity of K-pop and other idol-driven entertainment formats. While precise market sizing data is unavailable, considering the significant presence of major players like SM, YG, JYP, and HYBE, along with a burgeoning number of smaller agencies, a reasonable estimate for the 2025 market size would be around $5 billion USD. This figure incorporates revenue streams from artist management, merchandising, licensing, and concert touring. A Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2033 seems plausible, reflecting continued expansion in Asia and growing international interest in this entertainment style. Key drivers include the global reach of digital platforms, the strong appeal of idol culture to younger demographics, and strategic expansion by agencies into new markets and revenue streams, such as metaverse ventures and branded content creation. Significant trends shaping this market include the increasing influence of social media marketing, the rise of global collaborations between agencies, and a growing emphasis on artist development and brand building beyond just musical performance. The market is segmented by application (music, film & TV, activities & performances, others) and types of services (selection mode, training mode, others). While challenges exist, such as intense competition, evolving fan preferences, and reliance on specific talent pools, the market's strong growth trajectory is supported by the enduring appeal of idol culture and continued innovation within the industry. Geographic expansion, particularly in North America, Europe, and other regions, presents significant opportunities for established and emerging agencies. Competition is fierce, particularly amongst the larger Korean agencies, but there is substantial room for growth and diversification within this lucrative sector.

In 2023, the K-pop industry achieved an estimated sales of around 1.24 trillion South Korean won overseas. 47.6 percent of these sales came from the overseas performances sector, with another 31 percent from overseas album sales. In the same year, physical albums sold domestically as well as those sold abroad by certified sellers reached an all-time high.

In 2024, South Korean K-pop boy band Stray Kids sold approximately 5.9 million album copies. Since debuting in March 2018, the group has sold a total of almost 27 million album copies, with 2023 being their best year. Pioneers of the Next Wave of K-Pop Stray Kids is an eight-member boy band formed through a reality show of the same name by JYP Entertainment in 2017. The group debuted in March 2018 with the album “I am NOT” and the title track “District 9.” Since then, they have shown steady growth in album sales over the past years, rising in popularity among K-pop groups. In 2023, two of Stray Kids’ albums ranked in second and fourth place on the list of top ten best-selling boy group albums in South Korea, competing alongside popular boy band SEVENTEEN. JYP Entertainment’s success JYP Entertainment is one of the big four South Korean companies in the entertainment industry, managing artists such as TWICE, 2PM, Day6, ITZY, and NMIXX. JYP's sales revenue has gradually increased over the years, peaking in 2023 with a revenue of over 500 billion South Korean won. Among the four major entertainment companies, JYP ranked fourth as a leading K-pop entertainment company, with revenue expected to grow further. The company debuted one new artist in 2024, a Japanese boy group named NEXZ.

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Music Market Outlook

The global music market is projected to experience significant growth, with a market size reaching approximately USD 64 billion in 2023 and expected to soar to over USD 95 billion by 2032, reflecting a compound annual growth rate (CAGR) of about 4.5%. This remarkable expansion is driven by several growth factors, including the proliferation of digital platforms, increasing internet penetration, and the rising demand for diverse music genres and formats across various demographics. The rapid advancement in technology has also played a pivotal role in transforming how music is consumed, distributed, and monetized, further fueling market growth.

One of the primary growth factors for the music market is the ubiquitous rise of digital platforms, which have revolutionized the way music is accessed and consumed. Services such as Spotify, Apple Music, and Amazon Music have made it easier than ever for consumers to explore and enjoy a wide array of music from around the world. These platforms offer extensive libraries, personalized playlists, and various subscription models, enhancing user experience and driving subscription-based revenue streams. Moreover, advancements in AI and machine learning have enabled these services to offer highly personalized recommendations, engaging listeners and increasing user retention rates.

Additionally, the increasing availability and affordability of high-speed internet have expanded the reach of music streaming services to emerging markets, further contributing to market growth. As smartphones and smart devices become more widespread, particularly in regions like Asia Pacific and Latin America, more consumers are accessing digital music content than ever before. This has opened new avenues for artists and producers to reach global audiences without the traditional barriers posed by physical distribution. The democratization of music distribution has also led to a surge in independent artists, who are now more empowered to create, promote, and monetize their music through various online platforms.

Furthermore, the diversification of music genres and the growing appeal of global music trends have significantly influenced market dynamics. Genres like K-pop, Latin pop, and Afrobeat are gaining international popularity, attracting new listeners and generating substantial revenue. This cross-cultural exchange is facilitated by digital platforms that allow music from different parts of the world to be easily accessible to a global audience. As a result, the music market is witnessing a shift in consumer preferences, with listeners increasingly exploring and embracing diverse music styles, leading to a broader and more inclusive music industry.

The rise of Online Music Education is another transformative trend in the music industry, offering new opportunities for learning and engagement. As digital platforms continue to evolve, they are not only changing how music is consumed but also how it is taught. Online Music Education platforms provide accessible and flexible learning options for students of all ages, enabling them to learn from renowned instructors and musicians from around the world. These platforms often offer a wide range of courses, from beginner to advanced levels, covering various instruments, music theory, and production techniques. This democratization of music education allows aspiring musicians to hone their skills and gain valuable insights without the constraints of traditional classroom settings. Furthermore, the integration of interactive tools and resources enhances the learning experience, making it more engaging and effective for students.

Regionally, North America remains a dominant player in the music market, thanks to its well-established music industry and technological infrastructure. However, the Asia Pacific region is anticipated to witness the highest growth rate over the forecast period, driven by the increasing adoption of digital music streaming services and the rising popularity of local music genres. Europe also plays a significant role in the global music scene, with its rich cultural heritage and strong music industry presence. Latin America and the Middle East & Africa, while currently smaller markets, are expected to grow steadily as digital infrastructure improves and consumer spending on entertainment increases.

Genre Analysis

The music market is diverse, with several genres contributing to its dynamic nature. Pop music continues to lead the market d

The K-pop World Tours market has emerged as a dynamic and influential segment within the global music industry, captivating millions of fans and generating significant revenue streams for artists and promoters alike. With an estimated market size of around $1.2 billion, the K-pop concert experience is characterized

Europe K Pop Events Market is expected to grow during 2025-2031

As of March 2025, the K-pop entertainment HYBE Corporation achieved the highest market cap in the South Korean stock exchange market, at around 10.5 trillion South Korean won. HYBE Corporation, formerly known as Big Hit Entertainment, is home to the globally popular K-pop group BTS. Having only entered the stock exchange market in 2020, the company has since stayed ahead of its competition.