K-Content News

K-pop merchandise becoming major revenue stream for idols
  • November 20, 2020

K-pop merchandise
becoming major revenue stream for idols

Updated: 2020-11-19 17:30:34 KST
K-pop bands might be topping charts around the world, but its not just music sales that are making money for the K-pop industry.
Die-hard fans are also filling their shopping bags with merchandise from their favorite idols and groups.
And this industry is now worth well over 100 million U.S. dollars a year.
Kim Cheong-ah has this report.
This store sells products related to K-pop stars BTS.
The BTS merchandise ranges from clothes to confectionary and the boyband even have their own brand of water.
Fans buy these goods to support their favorite artists, and to feel more connected with their idols.
" I came here as soon as my exam was over. It makes me happy and gives me strength."
"I buy them because it makes me happy just lining them up."
The merchandise market is growing into a major revenue stream for the artists.
"The market stalled a bit after China imposed restrictions against South Korea in 2017 but now we see a steady expansion of 20 to 30 percent every year."
Fans are also now directly investing in their idols such as promoting them in advertisements or holding massive birthday events.
And as the "fandom economy" becomes more and more important, the industry can't help but be sensitive to fan culture.
The K-pop goods market has already surpassed 132 million U.S. dollars annually.
With South Korea's music market roughly the 9th largest in the world and its global fanbase getting larger by the day, especially in the U.S. and Europe, the merchandise market is expected to continue to grow.
Kim Cheong-ah, Arirang News.