[60th Anniversary of Korean Musicals②] From Small to Large Theaters: The Next Step for Original Musicals

Broadway’s Market Is Four to Five Times Larger
Korea Leads in New Original Musicals
Large Theaters Offer Greater Profitability and Audience Loyalty
Calls Grow for Measures Like a Quota System

Original musicals are driving the growth of the Korean musical market. In the Korean performing arts scene, original musicals are no longer seen as experimental attempts but have become a core keyword that determines the direction of the market. Industry insiders agree, "There is no other country in the world where such a wide variety of original musicals are consistently produced as in Korea."

However, original musicals staged in large theaters are still rare. There are concerns that without institutional support, the "spark of creativity" may remain confined to small and medium-sized theaters. Accordingly, there are calls for institutional measures, similar to the screen quota system, that would require a certain percentage of original musicals to be performed on large theater stages.

A Country of Original Musicals, Rare Even Globally

According to the "Yearbook of Arts and Culture" published by the Arts Council Korea on November 5, 2025, a total of 2,083 musicals were performed in Korea in 2023. Among them, 78 were original premieres, showing a steady production trend compared to 47 in 2022 and 143 in 2021. In terms of the sheer volume of original musicals produced, Korea is even more active than the United States, the world’s largest market.

According to the Broadway League, only 21 original musicals premiered on Broadway during the 2024-2025 season (from May 20, 2024, to May 25, 2025), and five of these were revivals. The number of purely new works was just 16. During the COVID-19 pandemic, the number of premieres dropped below 10, and even in the pre-pandemic 2018-2019 season, there were only 11 new works. Of course, a direct comparison is difficult since the Broadway League’s statistics only cover theaters with more than 500 seats, but even when considering market size, the creative fervor in Korea is a rare phenomenon globally.

For the 2024-2025 season, total Broadway box office sales reached $1.89265 billion, with musicals accounting for $1.48504 billion (approximately 2.134 trillion won). Last year, the Korean musical market recorded sales of 465.1 billion won, and this year’s figure is expected to reach around 500 billion won. While Broadway’s market is four to five times larger, Korea actually leads in the number of new original works.

Original musicals are the key driver of growth for the Korean musical market. Among Korea, China, and Japan, the markets in Korea and China-where original musicals are more prevalent-are expanding, while Japan, which focuses on licensed productions, is stagnating or shrinking. Original musicals have the advantage of lower production costs, as there are no licensing fees, and they allow producers to secure their own intellectual property (IP), which can diversify revenue through overseas exports. The successful K-Content model is thus extending into the musical sector.

As the popularity of K-Culture rises, the export of musical IPs is also becoming more active. Since this trend began in earnest around 2012, approximately 40 to 50 works have been exported to Asian markets such as China and Japan. However, due to insufficient research and statistical systems, it is difficult to determine the exact scale of these exports. With the establishment of the Korean Musical Society in August this year and its full-scale activities beginning next year, these limitations are expected to be gradually addressed.

The active production of original musicals is also greatly influenced by institutional support. Not only public organizations such as the Arts Council Korea and the Korea Arts Management Service, but also large corporate foundations like the CJ Cultural Foundation, are consistently supporting original development and laying the groundwork for the market.

Original Musicals in Large Theaters: The Final Piece of Growth

Nevertheless, original musicals intended for large theaters remain rare. Even in 2025, although dozens of original musicals are making their premiere, only a handful are being staged in large theaters. This year, "The Man in Hanbok" by EMK Musical Company, opening at the Chungmu Art Center Grand Theater on December 2, is the only new original musical in a large venue. Last year, there were only two: "Il Tenore" and "Swing Days: Codename A."

Large theater musicals are more profitable and have higher audience loyalty compared to productions in small and medium-sized theaters with fewer than 1,000 seats. Since the essence of musicals lies in grand stages and spectacular direction, audiences naturally prefer large theater performances. Globally, most long-running hits such as "The Phantom of the Opera," "The Lion King," and "Wicked" are also based in large theaters.

In fact, the biggest story on Broadway in 2023 was the closing of "The Phantom of the Opera," which had run for over 35 years. From its debut on January 26, 1988, to its final performance on April 16, 2023, it recorded a total of 13,981 performances, 20.15 million cumulative audience members, and box office sales of approximately $1.36463 billion (about 1.94 trillion won). Since then, "Chicago," "The Lion King," and "Wicked" have continued its legacy.

The Korean musical market also reached a turning point in its growth through hit productions in large theaters. The premiere of "The Phantom of the Opera" in 2001 sparked industrialization with its seven-month run, while "The Last Empress," which premiered in 1995, is regarded as the starting point for original Korean musicals.

Musical critic Choi Seungyeon emphasized, "For the domestic musical market, which is approaching 500 billion won, to take the next leap, the success of original musicals in large theaters is essential." He added, "While the market centered on small and medium-sized theaters is led by female audiences in their 20s and 30s, large theater musicals broaden the audience base to include families, middle-aged groups, and teenagers." The problem lies in the production environment. Original musicals face significant uncertainty in terms of commercial success, and the larger the scale, the higher the production costs. As a result, theaters tend to prefer proven licensed works, and original musicals remain confined to small and medium-sized venues-a structure that is becoming entrenched.

Lee Jongkyu, Chairman of the Korea Musical Association, stated, "There is a need for large theaters dedicated to original musicals." Lee Sunghoon, CEO of the production company Show Note, also argued, "Just as the screen quota system played a significant role in the growth of Korean cinema, similar institutional support is urgently needed for original musicals in large theaters," adding, "There must be policy incentives for theaters to stage a certain proportion of original musicals."