Cape Investment & Securities maintained their opinion to expand the proportion of the entertainment industry, saying, “K-pop is still expanding.”
According to FN Guide on Oct 3rd, Cape Investment & Securities said in a recent report, “It can be inferred that K-pop’s global fandom is continuing to spread in terms of album sales, Billboard chart rankings, album exports and concert scale.”
Cape Investment & Securities explained, “In August, sales of the top 100 on the Circle Chart grew 24% compared to the same month last year. Kakao Entertainment ranked first and showed remarkable sales, followed by JYP, HYBE, SM and YG.”
It is predicted that sales in September are highly likely to increase compared to the same month last year (6.1 million copies). YG Entertainment’s BLACKPINK and SM’s NCT 127, who made their comebacks in September, are artists that can each sell more than 2.5 million copies. Their first week sales showed more-than-expected growth than previous albums.
Park Hyung-min, a researcher at Cape Investment & Securities, mentioned that it is possible to confirm the rise in K-pop’s global popularity from various angles.
Researcher Park said, “The frequency of K-pop’s Billboard chart-ins is increasing and an increase in the average ranking is confirmed. The increased exposure of K-pop artists on Billboard charts is expected to further increase K-pop accessibility for music consumers in the Americas.”
The growth of album exports is also continuing. Album exports recorded an average annual growth rate of 72% from 2019 to 2021. On a cumulative basis in August 2022, it grew 4% compared to the same month last year. Researcher Park analyzed that album exports recorded overall growth despite a 13% year-on-year drop in album exports to China, lowering dependence on China and achieving earnings growth. An increase in concerts in non-Asian regions was also confirmed.
Source: Asiae
