Some of the biggest companies in the K-Pop industry have been worrying about a potential slowdown in growth abroad. However, the latest figures are still looking rosy.
According to the Korea Times, export sales of K-Pop albums grew by 17.1% in the first half of this year to $132.9m. This is based on figures from the Korea Customs Service, which noted that Japan was the biggest overseas market for K-Pop albums, accounting for $48.5m of those sales – 36.5%. The US ($25.5m) and China ($22.6m) were the next biggest markets for sales, with the US having overtaken China in the past year.
The article quotes the secretary general of the Korea Music Content Association (KMCA) as celebrating the fact that BTS going on hiatus to serve their military duties has not been as big a hit to revenues as had been feared.
“The solo projects by the remaining members and the performances of its junior groups like Stray Kids and Seventeen have been remarkably successful,” said Choi Kwang-ho.
Tools: platforms to help you reach new audiences
Tools :: Wyng
Through Music Ally’s internal marketing campaign tracking, we’ve recently discovered an interesting website by the…