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 *** 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 28 countries across the world found that around ** 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.

In 2023, overseas K-pop album sales achieved an export sales index of ***** points, the highest among the three sectors. This was closely followed by overseas performances, at ***** 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.

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.

According to a 2024 survey conducted across 28 countries, over ** 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 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.

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.

According to a survey conducted across 28 countries in 2024, respondents stated that they spent an average of ***** U.S. dollars on South Korean pop music (K-pop) content per month, an increase from about *** dollars the previous year. K-Pop consumption Consumers from the United Arab Emirates (UAE) showed the highest monthly spending on K-pop, at around **** 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.

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

The global entertainment idol agency market is a dynamic and rapidly expanding sector, projected to experience substantial growth over the next decade. While precise market sizing data is unavailable, considering the significant revenue generated by prominent agencies like SM Entertainment, YG Entertainment, and HYBE Corporation, along with the burgeoning popularity of K-Pop and other idol-driven entertainment globally, a conservative estimate places the 2025 market size at approximately $15 billion USD. This figure reflects the combined revenue streams from artist management, merchandise sales, concert tours, licensing agreements, and digital content distribution. The market's Compound Annual Growth Rate (CAGR) is estimated to be around 12%, driven primarily by the increasing global consumption of entertainment content, the expansion of digital platforms, and the rising influence of social media in promoting idols and their work. Key trends include the diversification of revenue streams through strategic partnerships, the increasing adoption of innovative technologies such as VR/AR for fan engagement, and the growing demand for personalized fan experiences. However, the market faces constraints such as the intense competition among agencies, the inherent volatility of the entertainment industry, and the potential for negative publicity impacting artist careers. Segmentation analysis reveals significant growth across all application areas (music, film/TV, activities/performances), with the 'selection mode' segment within training demonstrating higher growth potential, reflecting the industry's intense focus on talent acquisition and development. Geographical distribution demonstrates strong market presence in Asia-Pacific, particularly in South Korea, Japan, and China, with North America and Europe exhibiting significant growth potential. The continued success of the entertainment idol agency market hinges on the ability of agencies to adapt to changing consumer preferences, embrace new technologies, and manage the careers of their artists effectively. Strategic investments in artist development, technological innovation, and global expansion will be crucial for sustained growth. While challenges exist, the inherent appeal of idol culture and the global reach of digital platforms suggest a highly promising outlook for the industry in the long term. The expansion into diverse revenue streams like brand endorsements, metaverse engagement, and sophisticated data-driven fan management will be key factors in shaping the future trajectory of this sector. Furthermore, strategic collaborations between agencies and technology firms will be critical in enhancing fan interaction and expanding market reach.

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 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.

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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

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

In 2024, South Korean K-pop boy band Stray Kids sold approximately *** million album copies. Since debuting in March 2018, the group has sold a total of almost ** 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 *** 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.

Africa 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 ** 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.

The Korean language learning software market is experiencing robust growth, driven by increasing globalization, the popularity of Korean culture (K-pop, K-dramas), and a rising number of international students and professionals seeking opportunities in South Korea. The market, estimated at $150 million in 2025, is projected to achieve a Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2033, reaching approximately $500 million by 2033. This growth is fueled by several key trends: the increasing accessibility and affordability of language learning apps, the integration of gamification and interactive learning methodologies, and the development of more sophisticated AI-powered language learning tools. The market is segmented by application (International Students, Foreigners in Korea, Korean Language Enthusiasts, Other) and by operating system (Android, iOS). The Android segment currently holds a larger market share due to its wider global reach, but the iOS segment is expected to see significant growth in the coming years, driven by the increasing adoption of Apple devices in key markets. While the market faces challenges such as competition from free or low-cost alternatives and the need for continuous content updates to maintain user engagement, the overall outlook remains positive, with considerable growth potential particularly in Asia-Pacific and North America. The competitive landscape is dynamic, with numerous established players like Memrise and Duolingo alongside specialized apps catering specifically to Korean learners such as Eggbun and Talk To Me In Korean. Success in this market hinges on providing high-quality, engaging content, leveraging innovative technology, and effectively targeting specific user segments. Regional variations in market penetration exist, with North America and Asia-Pacific expected to remain the leading regions, fueled by substantial interest in Korean culture and language acquisition. Future growth will likely depend on the continuous development of personalized learning experiences, the incorporation of virtual reality (VR) and augmented reality (AR) technologies, and strategic partnerships with educational institutions and cultural organizations. Maintaining consistent user engagement through updates, community features, and incorporating feedback will be crucial for sustained success in this rapidly evolving market.

In 2024, the best-selling physical music album in South Korea was the EP "SPILL THE FEELS" by K-pop boy group SEVENTEEN, having sold around 3.2 million copies. With many parts of the global music industry moving away from physical sales to digital downloads and streaming, K-pop is a prominent exception. Through a combination of buying incentives, fandom culture, and the increasing popularity of K-pop, the genre has retained its larger focus on physical sales compared to many other genres. Music consumption in South Korea The most common purpose for purchasing physical albums is for collection purposes, and to directly support an artist, rather than utilizing the physical CD to listen to the music. The vast majority of South Koreans listened to music on their smartphones according to a 2024 survey, with CD players only being used by a small share of the population. Music streaming and downloading services are popular and enjoy frequent use. Incentives to buy physical albums One famous example of incentivizing the buying of physical albums that commonly occurs in the U.S. music industry is the bundling of merchandising or concert tickets with physical albums. This is not a common practice in the K-pop industry. Instead, each album offers unique merchandising and photobook concepts. Oftentimes, multiple versions of the same album will be released alongside several randomized collectible photo cards. Additionally, gaining entrance to fan signs is usually based on a lottery system which is entered by purchasing physical albums, with one album equaling one ticket. This phenomenon is mainly confined to the K-pop industry specifically, rather than being a feature of the larger South Korean music industry. As such, successful releases tend to differ between physical and digital rankings, with physical sales reflecting fandom buying power, and digital sales reflecting the taste of the general public. Physical rankings are generally dominated by K-pop artists, while digital rankings tend to be more diverse, with favored genres being ballads, OSTs, and trot music.