K-Pop Concert Prices Soar... Burden Shifted to Parents
Experts Say "Idol Culture Dependent on Fandom Needs Improvement"
As K-pop gains global popularity, the demand for festivals and concerts, which had stalled during the COVID-19 pandemic, has exploded, causing ticket prices to skyrocket.
However, since the main customer base is teenagers and people in their twenties, the cost of attending performances by minors without economic power is becoming a burden on their parents, raising concerns.
In the case of Psy's ‘Hmph Show,’ statistics posted on Interpark Ticket on the 17th show that teenagers accounted for about 5% of this year's ticket buyers. This is more than double compared to 2022, when teenage ticket buyers were in the 1-2% range.
The most common standing tickets cost 165,000 won, and even with a 20% student discount, the price easily exceeds 130,000 won. Including transportation and meals on the day, spending around 200,000 won is inevitable.
K-pop idol concert ticket prices are generally set at around 150,000 won for general seats and about 200,000 won for VIP seats. In recent years, prices have risen by 30-50%, reaching levels almost comparable to those of overseas pop stars' concerts in Korea.
The ticket prices for the group Seventeen's concert held at Seoul World Cup Stadium in April this year ranged from 132,000 won to 198,000 won. NCT Dream's concert at Gocheok Sky Dome in May was priced between 154,000 won and 198,000 won. In 2019, ticket prices for these groups' concerts were all 121,000 won.
If ticket purchase fails, there are cases where parents have to buy so-called ‘scalped tickets’ at a premium to avoid disappointing their children. Costs rise even further when including not only concerts but also fan meetings, albums, and merchandise.
Industry insiders say that overall inflation in stage setup costs, venue fees, and appearance fees has significantly increased compared to a few years ago, leading to higher concert admission fees. The increased safety management costs for large crowds after the Itaewon tragedy are also a factor.
An entertainment agency official said, “Even if prices rise, net income is not much different compared to the past,” adding, “Considering criticism about ticket prices, if concert prices are maintained, revenue must be compensated through merchandise sales, so fan spending may not differ significantly.”
Experts point out that the problem lies in the shift of the industry's focus from music to systems and capital, emphasizing that over-reliance on fandom and the commercialization of performances and idol culture need to be improved as a way to address this issue.
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