Sayart.net - K-Pop Album Exports Surge, U.S. Overtakes China as Second-Largest Market

BitHit Music

Data released on Tuesday revealed that exports of K-pop albums achieved an all-time high in the first half of this year, with the United States surpassing China to become the second-largest market for Korean music. According to the Korea Customs Service, K-pop album exports reached an impressive $132.93 million during this period, representing a significant 17.1 percent increase compared to the previous year, and marking the highest figure ever recorded for the first half of any year.

Japan retained its position as the largest market for K-pop album exports in the first half of 2023, with a total export value of $48.52 million. However, the remarkable ascent of the United States, with $25.51 million in exports, highlights the country's growing prominence in the global K-pop landscape. Formerly held by China from 2012 until last year (excluding 2020), the shift in rankings indicates the increasing worldwide recognition of the genre.

The United States, known as the world's largest music market, demonstrated its continued enthusiasm for K-pop during the first half of the year, even in the absence of BTS, the most successful K-pop band in history. Individual BTS member Jimin made history by debuting at the No. 1 spot on the Billboard Hot 100 songs chart with his solo single "Like Crazy." Additionally, groups Stray Kids and Tomorrow X Together secured the top position on the Billboard 200 chart with their albums. Jimin and Suga of BTS, along with the groups Seventeen, Ateez, and TWICE, all achieved the No. 2 rank on the same chart.

Notably, the rookie K-pop girl group Fifty Fifty made waves by maintaining a prominent position on the Billboard Hot 100 chart for an impressive 16 consecutive weeks with their latest hit, "Cupid."

In addition to the United States and Japan, other top 10 markets for K-pop albums during this period included Germany, Taiwan, Hong Kong, the Netherlands, Canada, Britain, and France. The global success of K-pop signals its increasing influence and growing fan base across various corners of the world.

With the United States leading the way as a major market for K-pop, the genre's continued global expansion is indisputable. As K-pop continues to captivate international audiences, it solidifies its position as a truly global phenomenon.

Sayart.net 

Blue YIM, yimyoungseo1010@naver.com