Surge in Performance Demand in the Endemic Era... 224.2% Increase Compared to Last Year

[Asia Economy Reporter Seo Mideum] As we enter the endemic phase, the performance market is reviving. According to Yes24 ticket sales, performance sales increased by 224.2% compared to the previous year and rose by 53.9% compared to 2019, before COVID-19.

Yearly Performance Sales Amount Year-on-Year Growth Rate [Data Provided by YES24]

Looking at the trend of performance sales changes last year, increases were notable in April, May, and October. This is believed to be due to the easing of social distancing in April, the limited lifting of outdoor mask-wearing mandates in May, and the full lifting of outdoor mask-wearing mandates in September.

Yes24's online performance sales in 2022 reached about 24 times that of 2021. Based on 2021, Yes24's online performance sales exceeded about nine times compared to the previous year, and in 2022, despite the easing of distancing measures, they increased even more explosively.

On the other hand, in the concert sector, the easing of social distancing in 2022 led to a rapid recovery of face-to-face performances that had been suspended, resulting in a boom. Looking at the 2022 Yes24 ticket concert sales rankings, K-POP idols NCT DREAM and NCT 127, who enjoy huge popularity due to explosive fandoms, ranked first and second, and trot singer Lim Young-woong's nationwide tour performances dominated from third place onward, showing strong trot performances due to the Lim Young-woong effect. The Lim Young-woong concert held exclusively by Yes24 sold out immediately upon ticket opening.

In performances, the one-person-one-ticket ratio was high at 70.6%. It is presumed that the trend of watching performances alone, following solo dining and solo drinking, has also settled in the performance industry. By category, the one-person-one-ticket purchase ratio was high in concerts (43.8%) and musicals (20.5%).

Kim Sang-gyun, team leader of Yes24 Ticket Business Team, said, “The strength of K-POP based on global popularity and the trot craze led by national hit singers are expected to continue this year. Additionally, in 2023, the opening of the 'Inspire Arena' and 'Bucheon Art Center,' state-of-the-art facilities in the metropolitan area, is imminent, and the 'LG Art Center Seoul,' which opened in the second half of last year, has also begun its full lineup,” adding, “With the expansion of such cultural infrastructure and the easing of indoor mask-wearing recommendations starting January 30, the growth trend of the performance market in 2023 is expected to continue.”