With the revival of university festivals for the first time in three years, is it affected by the rising prices of singers’ performances?
The university festival season resumed for the first time in three years as social distancing was eased after the pandemic seems to have slowed down. As university festivals are back after a long time, universities are also eager to recruit more viral and trendy singers. A K-pop insider said, “Even today, more than 10 universities have already called me,” adding, “I had to refuse some of them due to my schedule.”
Prices have risen sharply throughout the three years of the pandemic. With prices rising in almost all sectors, how has the cost of inviting stars to college festivals changed?
The cost of casting for college festivals varies depending on the number of members and their recognition. According to News 1, girl group A, who has a signature dance that led the trend, asked for about 50 million won. This is one of the most expensive expenses of college events. In addition, the top-notch B band, which is highly recognized, receives about 40 million won for each event. In addition, hip-hop singer C, who has numerous hit songs and known for their passionate performances, requires an event fee of 30 million won.
In addition, most of the relatively popular idols require about 15 million won to perform at university events. Singer D, who is a rookie but already has a few hit songs, requires 10 million won while singer E, who has quite a lot of popular song but is somewhat less famous to the public, requires about 4 million won for the event, respectively.
Among them, singer Psy, who is known as the “Godfather” of the performance industry, is drawing attention as he asks for a somewhat cheaper (?) fee compared to his recognition and reputation. Psy is considered one of the top performers in the world as well as his good global recognition, but the cost of his performances at college festival events is lower than that of singers/teams A, B, and C. Of course, this is due to Psy’s will.
“When it comes to university festivals, Psy wants people to enjoy them together, so he asks for a relatively low price to perform at such events,” an insider from the company told News 1. “Due to the pandemic, the university festivals will return for the first time in a long while. Because of that, he is receiving a low event fee with the desire to play passionately with the students.”
Prices in almost every sector have risen sharply during the pandemic. If so, is the current cost of inviting stars to university festivals affected by inflation? Many insiders told News1, “There is no significant difference in the event cost when compared to before the pandemic,” and added, “To show that the performance industry has not dried up, and for the sake of a resurgent performance culture, they are going without raising the price.”