Final 12 months, Okay-pop album export worth broke by means of $300 million (roughly 441.5 billion received) for the primary time in historical past, however as a consequence of home market stagnation, complete gross sales quantity decreased for the second consecutive 12 months.
In keeping with the Korea Customs Service import-export commerce statistics launched on Jan. 15, final 12 months’s album export worth (HS Code 8523.49.1040, based mostly on clearance date) was tallied at $301.744 million (roughly 444.3 billion received), a 3.4% improve from the earlier 12 months, recording the very best determine in historical past.
By nation, Japan maintained its place as the highest export vacation spot with $80.625 million (roughly 118.7 billion received). China ranked second with $69.715 million (roughly 102.6 billion received), and america ranked third with $63.971 million (roughly 94.2 billion received).
Whereas Japan defended its first place place, it was a 12 months when China’s outstanding progress stood out. In comparison with 2024, album export worth to China elevated by 16.6%, whereas Japan decreased by 10.2%, making a stark distinction.
Because the Chinese language market confirmed indicators of restoration, China reclaimed the second place place as an album export vacation spot for the primary time in three years since 2022, surpassing america.
Following the “Large 3” markets of Japan, China, and america, Taiwan, Germany, Hong Kong, the Netherlands, Canada, France, and Poland have been recognized as the highest 10 nations that imported probably the most Okay-pop albums.
Nevertheless, in accordance with evaluation by Kim Jin-woo, a Circle Chart music knowledge journalist, final 12 months’s album gross sales quantity recorded roughly 93.5 million copies (based mostly on Circle Chart rankings 1-400), lowering for the second consecutive 12 months since attaining roughly 120 million copies in 2023.
The truth that complete gross sales quantity decreased regardless of elevated album export worth is interpreted as exports driving market progress whereas home demand remained sluggish.
Choi Kwang-ho, secretary basic of the Korea Music Content material Affiliation, analyzed, “Within the international market, Okay-pop continued its reputation final 12 months as a consequence of components such because the success of ‘Okay-pop Demon Hunters,’ however the home market contracted because the ambiance of restraining fan-targeted advertising coincided with CD plastic environmental points. Since our home market is small, the hole between artists who succeeded within the U.S. and Japan and those that didn’t is more and more widening.”
Specialists emphasised that whereas the brand new 12 months has the situations for a Okay-pop market rebound with the return of mega mental property (IP) teams like BTS and BLACKPINK, this can’t be a elementary resolution.
Knowledge journalist Kim Jin-woo identified, “BTS and BLACKPINK may very well be short-term options, however for the Okay-pop business to revive in the long run, new genres (past idol dance) are wanted. Simply as hip-hop was added to the mainstream genres of ballads and dance when ‘Present Me the Cash’ turned profitable previously, stars from new genres like rock must emerge to develop the market share. We have to create such structural enhancements, however since all the celebrities are solely going abroad, the home market will not be doing effectively.”
