South Korea's music industry - Statistics & Facts

The South Korean K-pop group BTS managed to set a new record by attracting more than 101.1 billion views within 24 hours for their 2020 hit song "Dynamite". The fact that K-pop artists continuously break records shows how K-pop is not only popular in South Korea or Asian countries anymore, but has managed to reach a global audience. According to a 2021 survey on the popularity of K-pop worldwide, the majority of respondents felt that K-pop was widely known and popular among the public, rather than being confined to fan circles. The same survey found that one of the main reason for the popularity of K-pop were the catchy rhythms and choruses.

Music industry

All in all, the South Korean music industry achieved an all-time high sales revenue of over 6.8 trillion South Korean won in 2019, as well as an export value of over 756 million U.S. dollars. The export value has been increasing steadily ever since 2009 when K-pop began to become a global phenomenon. Nevertheless, while K-pop is one of the most prominent music exports from South Korea, there are numerous other popular domestic music genres. Older generations especially enjoy Korean Trot, an older form of South Korean popular music. When asked about their favorite origin of music, 93 percent of music listeners in South Korea stated that they preferred listening to music originating from South Korea.

Music streaming

In the home country of Samsung and LG, a great majority of consumers own and use smartphones. With one of the best internet connections of the world, it is unsurprising that music consumers prefer to stream music rather than purchasing a physical copy. When asked about their preferred way of obtaining music, approximately 63.7 percent stated that they preferred streaming, while only 3.2 percent preferred to purchase a physical copy. In 2020, YouTube overtook the South Korean streaming service Melon as the most frequently used music streaming service in South Korea.

Interesting statistics

In the following 4 chapters, you will quickly find the 23 most important statistics relating to "Music industry in South Korea ".

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