Here’s a breakdown of the provided text, focusing on the key points and themes:
Overall Theme: The article discusses the current state and future prospects of K-pop‘s influence in the United States, acknowledging both challenges and positive developments.
Key Points and Arguments:
Mixed Billboard Performance:
while K-pop artists like Jungkook and FIFTY FIFTY had success on the Billboard charts in 2023, the article notes a decline in 2024, with no single K-pop song listed on the Hot 100 in the past year.
this is contrasted with earlier successes,suggesting a potential dip in chart presence.
Album Sales as a Positive Indicator:
Despite the chart performance, album sales in the first half of the year are presented as a positive sign of K-pop’s influence in the US.
The article highlights that “various artists have achieved good results” in this area.
Global Success and Touring Power:
BLACKPINK‘s World Tour: The article emphasizes BLACKPINK’s triumphant world tour, specifically their two-day performance at Los Angeles’ sofi Stadium, which set a record for audience mobilization (100,000 people).
BTS’s Touring Impact: The article mentions BTS members’ solo tours, notably J-Hope’s tour, which attracted a meaningful number of people across North America. Financial impact of Touring: The success of these tours is directly linked to increased revenue for companies like HYBE, with North American revenue showing a substantial year-on-year increase.This is attributed to both the main artists and othre artists under HYBE America’s labels.
Concerns about Growth and “K-pop Crisis Theory”:
The article acknowledges concerns about a slowdown in K-pop’s growth, referencing a “K-pop crisis theory.”
This concern is linked to the fact that while first-class sales were high in early 2023, growth has as fallen.
Chairman Bang Si-hyuk’s comment about a “recent fall in the main market” is cited as evidence of these concerns.
The enlistment of BTS members and the activity gap for BLACKPINK are mentioned as factors contributing to these figures.
A decline in total record sales volume in Korea is also noted as a supporting point for these concerns.
North America as a Crucial Market:
The article strongly emphasizes the importance of the north American market for K-pop’s global expansion.
It’s described as a market that “leads the flow of popular culture” and offers significant growth potential.
Continued success in North America is seen as crucial for elevating K-pop’s overall influence and sales volume.
economic Potential of Live Performances and Merchandising:
The article quotes a researcher who highlights the significant spending of US performance attendees on merchandise and the overall economic impact of large-scale tours.
Taylor Swift’s massive tour success is used as an exmaple of how “mega IP” (intellectual property) can positively impact various markets, including performance, merchandise, and streaming.
In essence, the article presents a nuanced view of K-pop in the US:
Challenges: Acknowledges a dip in chart performance and concerns about overall growth.
Strengths: highlights the continued strength of album sales and the immense power of live tours and fan engagement, particularly in the crucial North american market.
Future Outlook: Suggests that continued strategic focus on North America, leveraging the success of touring and fan spending, is key to K-pop’s sustained global growth.
