Wavering K-Pop industry domination

[Anchor]

The K-pop industry, which has swept the world, is now facing a slowdown.

The growth rate of album exports has slowed, and album sales have decreased compared to the previous year.

Judging that it is difficult to sustain with the existing methods that rely solely on fandom, agencies are searching for breakthroughs.

Reporter Kim Hye-joo has the details.

[Report]

From aespa, which took the summer by storm with a 'metal taste' beat, to NewJeans, which sparked the 'new retro' craze, and Rosé's 'APT' at the end of the year.

Last year, K-pop dominated the world again.

[Rosé/BLACKPINK member/October 2024: "It's been a long journey. It hasn't been the easiest because in the process of me writing this album, I was trying to be independent."]

Seven out of the ten best-selling physical albums in the U.S. last year were K-pop albums, and K-pop also dominated various overseas music awards.

However, looking deeper into the situation reveals a different story.

Last year's album export amount was 423.8 billion won, which is only a 0.5% increase compared to the previous year, marking the end of a growth trend that had lasted for over five years.

There is also a red light for annual album sales.

Last year's physical album sales fell below 100 million, totaling about 98.9 million copies.

This is due to excessive marketing, like the first week sales competition, losing its effectiveness.

[Kim Jin-woo/Senior Researcher at Circle Chart: "There were a lot of discussions about infinite fan signings and first-week competition, but now the industry has somewhat restrained itself and has had a self-correcting effect..."]

In a situation where revenue generation solely dependent on fandom has reached its limits, large agencies like HYBE, SM, and JYP are looking for breakthroughs with new groups.

[Choi Kwang-ho/Secretary General of the Korea Music Content Association: "They are already aware that there are limitations in the existing idol format, and therefore, there is a need for diversity in music and formats..."]

Additionally, the return of BTS and BLACKPINK, who have large fanbases, is expected to be a positive factor for a second K-pop wave.

This is KBS News, Kim Hye-joo.