U.S. K-pop fans’ merch spending hit $30 monthly: What’s fueling the frenzy? helobaba.com
The global craze of K-pop has transcended borders, reaching even the most remote corners of the world. The remarkable success of the Korean pop industry is evident not just in its popularity among young people but also in the booming market for K-pop merchandise. Data indicates that international fans are significantly more inclined to spend on goods related to the genre compared to other cultural content. This shows how quickly K-pop’s cultural impact is turning into a big economic influence.
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How U.S. K-pop fans spend their merch moolah
The analysis firm Luminate highlights the rapidly growing K-pop merchandise market as an important industry in its 2023 Annual Report. According to data in the survey, American K-pop fans spend $24 on items on average each month, which is 2.4 times more than the typical American listener.
U.S K-pop fans vs J-pop fans
Fans of K-pop in the United States spend more money on merchandise and attending events compared to fans of J-pop. U.S. K-pop listeners spend $8 more per month on merchandise than J-pop fans and are 50% more likely to buy merchandise even if they don’t attend music events. The U.S. witnessed a remarkable rise in K-Pop popularity last year. On-demand streaming for world music, including K-pop, grew by 26.2%, the highest among all genres.
This surge placed the U.S. as the second-largest K-Pop music export market, overtaking China and just a little bit behind Japan.
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Most-streamed songs in the U.S. last year
As per the data, Korean music made up 0.7% of the top 10,000 most-listened-to songs in the United States last year, placing them third after English (88.8%) and Spanish (8.1%).
The K-pop fandom is renowned as one of the largest and most devoted fan communities globally. The global success of K-pop groups like BTS and BLACKPINK has propelled the Hallyu wave, also known as the K wave, to reach worldwide audiences, extending far beyond Asian cities. While the craze initially centered around Asian cities, it has now gained significant dominance in the U.S. and other Western regions. As per an expert in the report, “K-pop fans are known for their high loyalty and fervor, with a significant proportion being superfans. Many consume artist merchandise as a way to express their identity, preferring something different from the mainstream.”
K-pop craze and album sales
According to the import and export trade statistics from the Korea Customs Service for last year, Japan stands as the primary export destination for K-pop albums. This is followed by a substantial investment from the United States market, amounting to millions of dollars. China also emerges as part of the big three in this data.
