Issue Focus

Overseas sales in the K-pop market exceeded 1 trillion won for the first time last year. According to the Korea Culture and Tourism Institute's report on the 24th, titled "Trends in K-pop Overseas Sales Based on Data," K-pop overseas sales in 2023 were estimated at 1.2377 trillion won, a 34.3% increase from the previous year.
This historic achievement was driven by combining sales from album exports, overseas streaming services, and performances. Performance sales were the highest at 588.5 billion won (47.5%), followed by album exports at 388.9 billion won (31.4%), and streaming services at 260.3 billion won (21.0%). The six major entertainment companies saw a 35.0% annual growth in performance sales from 2018 to 2023, with a 65.6% increase in 2023 due to post-pandemic recovery.
Album exports grew 7.6 times compared to 2017, surpassing 1 trillion won for the first time in 2019 and 3 trillion won in 2022. Streaming service sales also tripled from 2017 levels, with significant growth in Europe and the Americas. The Korea Culture and Tourism Institute anticipates continued growth in overseas sales in 2024 due to market diversification, the emergence of new artists, and sustained international efforts.