HYBE Leads the 'K-pop Live Viewing' Craze... K-pop's Market Share in Concert Venues Triples

Jump from 1.6% to 5.1% in One Year
HYBE Labels Artists Lead 'K-pop Direct Viewing'
Billboard: "K-pop and Latin Genres Lead Reshaping of US Tour Market"

The market share of K-pop in the global live performance industry has increased approximately threefold. According to the 'The Year in Touring 2023' report recently released by Billboard, the proportion of K-pop stages worldwide rose from 1.6% last year to 5.1% this year. Until 2018, K-pop had not surpassed the '1% barrier,' but after BTS conducted their world tour in 2019, reaching 4%, it experienced a decline before rebounding this year to record its highest ever share.

Through this year's world tour, SUGA attracted a total of 330,000 people across 10 cities.

Photo by HYBE

Notably, this year's achievement was made despite the fact that the 'complete BTS' group did not perform due to some members enlisting in the military. The K-pop artist with the highest tour revenue was BLACKPINK. Through 29 concerts, they attracted a total audience of 703,000 and generated sales of $148.3 million (approximately 192 billion KRW). This is the highest revenue ever recorded for a single tour by a girl group worldwide.

Overall, the company leading the 'K-pop live concert' craze was HYBE. Among the top 100 tour revenues this year, four artists belonged to HYBE: SUGA, SEVENTEEN, TOMORROW X TOGETHER, and ENHYPEN. Including these artists, HYBE Labels' performers held a total of 93 concerts worldwide over the year, attracting 1.6 million attendees. The combined revenue amounted to $188.1 million (approximately 243 billion KRW). Thanks to these touring achievements, HYBE's ranking in the global top promoters list, which sums up concert revenues they organize, rose three places from 8th last year to 5th this year.

K-pop's rapid growth is reshaping the landscape of the global live performance market. Billboard analyzed that the combined market share of pop and rock genres, which had long dominated the global touring market, dropped from 69% in 2019 to 48% this year, citing the rise of K-pop and Latin genres as the cause. Billboard stated, “As BTS's international influence spreads to their peers, K-pop is gaining widespread popularity,” and added, “The U.S. touring market is being reorganized under the leadership of K-pop and Latin genres.”