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South Korean Music Sales Exploded During the First Half of 2022

South Korean Music Sales Exploded During the First Half of 2022
Photograph Credit score: Louie Nicolo Nimor

South Korean music gross sales exploded by 31.7 p.c through the first half of 2022, the Korean artistic content material company reveals — behind solely movie, pulling forward of all different types of leisure (comics, video games, broadcasting, publishing, and animation). 

Korean Inventive Content material Company (KOCCA) printed its report for 2022’s first half, revealing unbelievable development in South Korea’s music business. Revenues grew by 31.7% year-on-year, behind solely movies, the place gross sales elevated 58.1%.

Moreover, music export revenues elevated 26.2% year-on-year due to Ok-Pop’s continued worldwide success with artists reminiscent of BTS and Blackpink. The Korean leisure sector as a complete has skilled great development within the first half of 2022, with followers desirous to return to film theaters and stay performances.

Whereas KOCCA’s report solely covers the primary half of 2022, a few of BTS’ most important accomplishments for the yr occurred later, which speaks to the group’s endurance. They have been the IFPI’s World Recording Artist of the 12 months in 2020 and 2021, and the June 2022 launch of their album Proof introduced the already-successful group much more acclaim. Their live-streamed live performance in Busan attracted greater than 49 million viewers in October.

2022 has additionally been a banner yr for Blackpink, whose worldwide success has certainly rocketed them to the highest of South Korean pop stars. They grew to become the primary music artist to achieve 75 million YouTube subscribers, and each they and BTS held official YouTube Shorts challenges to encourage fan participation.

Ok-Pop has seen such success globally, thanks largely to the prevalence of streaming, enabling teams to forged a wider web and achieve extra followers within the West. However bodily album gross sales for the style have been equally spectacular.

Researchers at South Korea’s Hyundai Motor Securities declare that in Might alone, almost 10 million Ok-Pop albums have been offered. Notably, 48% of these have been artists signed below Hybe, together with Seventeen and TXT, who had simply launched new albums that month and accounted for a big portion of the gross sales.