K-pop Events Market: Global Industry Analysis and Forecast (2024-2030)

K-pop Events Market was valued at USD 8.9 Bn. in 2023 and is expected to reach USD 20.5 Bn. by 2030, at a CAGR of 7.5% during the forecast period (2024-2030).
Global K-pop events Market Overview
K-pop refers to all popular music or pop music from South Korea, it is colloquially often used in a narrower sense for any Korean music and artists associated with the entertainment and idol industry in the country, regardless of the genre. These events typically feature Korean idol groups or solo artists, who perform their music and engage with fans through various activities, such as Q&A sessions, games, and photo opportunities. The analysis of K-pop Event Market shown a globally presented data with descriptive information of market’s object leading key market players, their recent development, strategies, targets and current trends. As well as put lights on market’s recent growth and it’s informative past.  To know about the Research Methodology :- Request Free Sample Report
K-pop Events Market Scope & Methodology 
The scope of this study is to analyze the K-pop events market globally. The study focuses on various types of K-pop events, such as concerts, fan meetings, showcases, and festivals, featuring different artists and groups. The analysis covers the period of 2018-2023 and includes the latest trends, opportunities, and challenges in the market. The study also examines the impact of social media, digital streaming platforms, and other technological advancements on the K-pop events market.

The methodology for this study involves a combination of primary and secondary research. The primary research consists of surveys and interviews conducted with event organizers, artists, fans, and other stakeholders in the K-pop events market. The survey covers various aspects such as fan preferences, ticket pricing, merchandising, and marketing strategies. Interviews were conducted with key players in the market to gain insights into their strategies, challenges, and opportunities.

Secondary research involves analyzing various sources, such as industry reports, academic publications, news articles, and company websites. Secondary research is used to gather information on market trends, market size, growth potential, and industry challenges. Data collected from both primary and secondary research was analyzed using statistical tools, such as regression analysis, correlation analysis, and trend analysis, to provide a comprehensive overview of the K-pop events market.
K-pop Events Market Segmentation Analysis
Demographics: The demographics segmentation is classified as age, gender, and income source. As specific generation groups are involved in such K-pop events certain parameters have been included i.e. K-pop appeals to a wide range of age groups, but each group may have different preferences in terms of music, performances, and idols. Segmentation based on age group helps event organizers tailor their marketing and promotional strategies to better appeal to specific age groups. While K-pop has a significant female fan base, it also appeals to male fans. Segmentation based on gender helps event organizers create events that appeal to specific gender groups. K-pop Events are also segmented based on the income level of the fans attending. Fans with higher income levels are more likely to pay for VIP experiences or premium merchandising.

Types of Events: Another way to segment the market is by the type of event being held and sub-segmented based on Concerts, Fan meetings, and Event Festivals. Segmenting the K-pop Events market based on the type of event can help organizers create events that appeal to different types of fans and meet their specific expectations. K-pop Events are segmented based on whether they're primarily concerts. Different types of concerts (e.g. stadium vs. arena vs. small club) might appeal to different types of fans. Festivals offer a different type of experience than individual concerts or fan meetings

Artist/ Group: The segmentation is classified on the basis of the K-pop events market by the specific artist or group being featured at the event. K-pop Events are segmented based on the popularity of the group performing. More popular groups attract larger and more diverse crowds. K-pop Events are also segmented based on the relative popularity of the group performing. Up-and-coming groups perchance appeal to a smaller but more dedicated fan base. Solo Artists have different types of fan bases, and popularity among individual music players or singers also drives the K-pop Events Market.

Genre: K-pop encompasses various genres, including pop, hip-hop, R&B, rock, and electronic. Event organizers segment the market based on the genre of music to create events that appeal to fans of specific genres. Each sub-genre has its specific target audience, and K-pop event organizers cater to these audiences by organizing events that feature specific sub-genres. For example, events organized that focus on ballad songs or dance performances, and artists who specialize in these sub-genres are invited to perform. This segmentation helps event organizers to better understand their audience's musical preferences and create events that cater to those preferences.

Language: K-pop music is predominantly sung in Korean, but there are also K-pop artists who sing in other languages such as English, Mandarin, and Japanese. Events are organized based on the language preference of the audience, and artists who sing in a specific language are invited to perform. For example, an event is organized that features K-pop artists who sing in English or Japanese. This segmentation helps event organizers to cater to the language preferences of their audience and create events that are more engaging and enjoyable for them.

Sales Source: K-pop events market is also segmented based on the source of their sales, such as online ticketing platforms, physical ticket sales, or sales through fan clubs. Each of these sales sources has its unique audience, and event organizers cater to these audiences by organizing events that are easily accessible through their preferred sales source. Some K-pop fans prefer to buy tickets through online ticketing platforms, while others prefer to buy them through fan clubs. By understanding their audience's preferred sales source, event organizers create events that are more accessible and convenient for them.
K-pop Events Market Dynamics
Fan engagement: Fan engagement is a key factor in the success of K-pop events. K-pop events often involve activities that allow fans to interact with their favorite artists, such as Q&A sessions, photo opportunities, and meet and greets. The level of fan engagement greatly impacts the popularity and success of a K-pop event.

Online presence: The online presence of K-pop events is crucial in reaching and engaging with fans. Event organizers and artists use various digital platforms such as social media, live streaming, and online communities to promote and publicize their events. The online presence of K-pop events also generates buzz and hype around the event, leading to increased attendance and revenue.

Production value: The production value of K-pop events is a significant factor in creating a memorable and impactful experience for fans. K-pop events often feature elaborate stages, lighting, and special effects, enhancing the performance and creating a unique atmosphere. The production value greatly impacts the overall perception and success of a K-pop event, which highly influences the K-pop events market growth.

Branding and merchandising: It is key factors in creating a loyal fan base and generating additional revenue streams for K-pop events. Event organizers and artists often release exclusive merchandise and collaborate with fashion and beauty brands to create unique products that appeal to fans. Effective branding and merchandising create a strong and recognizable brand image for K-pop events, leading to increased popularity and revenue.

Artist selection and performance quality: The selection of artists and the quality of their performances are critical factors in the success of K-pop events. The popularity and reputation of the artists can greatly impact the attendance and revenue of an event. The quality of the performance, including the vocals, dance, and overall stage presence, can greatly impact the overall success and perception of a K-pop event.

Venue selection and capacity: The selection of a suitable venue and capacity is crucial to the success of K-pop events. The venue ought to be able to accommodate the expected number of attendees and provide the necessary facilities and amenities. The location of the venue can also impact the accessibility and convenience for fans, leading to increased attendance and revenue.

Marketing and promotion: Effective marketing and promotion strategies are essential in creating buzz and hype around K-pop events. Event organizers and artists use various marketing and promotion channels, such as social media, advertising, and public relations, to reach their target audience and create awareness about their event. These are expected to contribute to the global K-pop events market growth. Effective marketing and promotion greatly impact the success and attendance of K-pop events. The globalization of K-pop has increased the fan base for Korean artists and groups worldwide. The expansion of social media and digital streaming platforms has made K-pop more accessible to fans, leading to an increase in demand for K-pop events in various countries and regions around the world.

Expansion of K-pop events: There is significant potential for the expansion of K-pop events, especially in emerging markets. The growing popularity of K-pop music in these markets presents an opportunity for event organizers and artists to reach new audiences and expand their fan base.

Diversification of events: Diversification of events, such as incorporating new formats and activities, event organizers attract a wider range of fans. As events that incorporate gaming or sports activities alongside the performances can appeal to a broader audience.

High competition: The K-pop events market is highly competitive, with numerous event organizers and artists vying for the attention of fans. This competition has led to a saturation of the market, making it challenging for new entrants to establish themselves.

Economic factors: Economic factors such as inflation, unemployment, and changes in consumer behavior can have a significant impact on the K-pop events market. A decline in consumer spending power can lead to reduced demand for K-pop events, resulting in lower attendance and revenue.
Competitive Landscape of K-pop Events Market 
1. SM Entertainment Flagship products: SuperM, EXO, NCT, Red Velvet, TVXQ. In 2023 SM Entertainment announced plans to launch a new girl group in K-pop culture this is one step of the recent development of SM Entertainment. SM Entertainment has collaborated with fashion brands such as Gucci and Colette.  In 2019, SM Entertainment acquired Label SJ, a subsidiary of SM's rival company, SM Entertainment.

2. JYP Entertainment Flagship products: TWICE, Stray Kids, ITZY, DAY6. JYP Entertainment announced plans to launch a new boy group in 2023. The JYP Entertainment has collaborated with companies such as LG Electronics and Lotte Duty-Free. JYP Entertainment launched its own online store, JYP’s official shop, in 2023.

3. YG Entertainment Flagship products: BLACKPINK, BIGBANG, iKON, WINNER. YG Entertainment announced plans to launch a new boy group in 2023. The YG Entertainment has collaborated with brands such as Adidas and Moonshot. In 2015, YG Entertainment acquired a 50% stake in YG Plus, a subsidiary of YG's rival company, SM Entertainment

4. Big Hit Entertainment Flagship products: BTS, TXT. Big Hit Entertainment merged with CJ ENM's music division to form a new company called HYBE Corporation in 2023. The Big Hit Entertainment has collaborated with brands such as Puma and Hyundai Motors. In 2019, Big Hit Entertainment acquired Source Music, the agency behind GFRIEND.

5. CJ ENM Flagship products: SEVENTEEN, NU'EST, IZ*ONE. CJ ENM merged its music division with Big Hit Entertainment to form a new company called HYBE Corporation in 2023. The CJ ENM has collaborated with companies such as Coca-Cola and Shopee. CJ ENM launched a new global K-pop audition program called "Global K-Camp" in 2023.

6. Starship Entertainment Flagship products: MONSTA X, Cosmic Girls, CRAVITY. Starship Entertainment announced plans to launch a new girl group in 2023. It has collaborated with companies such as Estée Lauder and LG Electronics. Starship Entertainment merged with LOEN Entertainment, a subsidiary of Kakao Corporation.
Regional Analysis of the K-pop Events Market
The K-pop events market has experienced significant growth and development globally over the past decade. Asia-Pacific is the largest market for K-pop events, accounting for the majority of the market share. Countries such as South Korea, Japan, and China are the main markets for K-pop events, with South Korea being the epicenter of the K-pop industry. K-pop events in these countries typically attract huge crowds and generate significant revenue. North America and Europe are also emerging markets for K-pop events, with a growing fan base and an increasing number of K-pop concerts and events being held in these regions. The United States has become a major market for K-pop events, with many K-pop groups performing in major cities across the country. Latin America, the Middle East, and Africa are also emerging markets for K-pop events, with a growing fan base in these regions. In recent years, K-pop events have been held in countries such as Brazil, Mexico, and the United Arab Emirates.
K-pop Event Market Scope: Inquire before buying



Global K-pop Event Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 8.9 Bn.


Forecast Period 2024 to 2030 CAGR:
7.5%
Market Size in 2030:
US $ 20.5Bn.


 Segments Covered:
By Type
Rock
Jazz
Pop
Others


By Revenue Source
Tickets
Online
Offline
Sponserships
Others


By Gender
Male
Female



Global K-pop Event Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
K-pop Event Market, Key Players are:
1. HYBE
2. Live Company Group plc.
3. PK-UK Events Limited
4. SubKulture Entertainment
5. Filmmaster Group
6. CJ Co.Ltd.
7. JYP Entertainment Co. Ltd
8. SM Entertainment Group
9. YG Entertainment Inc.
10. Eventbrite, Inc., and HYBE Co., Ltd.
FAQ's
1] What is the target audience for K-pop?
Ans: The average age of a K-pop fan is 23 years old, and over half are female.

2] How is K-pop marketed?
Ans: Platforms such as YouTube, Instagram, Twitter, and Facebook are utilized to update fans on concerts, music releases, scheduled activities, and merchandise of their favorite idols.

3] What marketers can learn from K-pop trend?
Ans: One of the marketing lessons from K-pop is understanding customers. The K-pop industry understands what its audience wants and needs. They know how to please their audience by appearing and interviewing regularly.

4] Why use pop culture in marketing?
Ans: Besides creating brand awareness, using pop culture may also result in increased brand loyalty.

5] What are the key trends in the K-pop events market report?
Ans: Rise in interest towards live music and adoption of Korean music culture are the new trends supporting the market growth.