K-pop Events Market By Type (Rock, Jazz, Pop, Others), By Revenue Source (Tickets, Sponserships, Others), By Gender (Male, Female): Global Opportunity Analysis and Industry Forecast, 2022-2031
The global k-pop events market was valued at $8.1 billion in 2021, and is projected to reach $20 billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031.Several distinct Korean musical genres and aspects fall under the banner of K-pop. It also includes Korean rock, hip-hop, and electronic music in addition to Korean pop music. K-pop is regarded as a relatively new genre of music. According to financial statistics released in 2021, well-known K-pop companies saw a strong increase in their overseas revenues in the first half of the year as the number and power of fans who are stationed abroad increased to the point where they may influence local music charts.
Any special event featuring Korean pop musical performances—including singing and playing instruments—is referred to as a K-pop event. These events are typically themed around different musical genres, locations where the musicians are from, and nationalities. Popular examples of music events include music performances, concerts, and music festivals. The K-pop event market scope includes segmentation based on type, revenue source, gender, and region for analytical purposes.
The government's increased investments in infrastructure development and connectivity are also anticipated to have a significant impact on the market for K-pop concerts. The governments of the emerging nations in the Middle East, Africa, and Asia-Pacific are making investments in the construction of roads, trains, and other forms of connection. Also, when 5G technology becomes more widely used, more people will use digital platforms to purchase tickets, place food orders, and reserve hotel rooms at music events.
These developments will significantly boost music tourism and facilitate the overall development of the K-pop events industry. Music tourism is an upcoming trend in emerging markets such as Asia-Pacific. However, privacy and data security concerns associated with use of online platforms or online ticket vendors is a major challenge.
Organizing a K-pop event involves multiple expenses, which include on-site expenses, venue costs, event rentals, and production expenses. On-site expenditures involve fees and cost charged by the event venue, which incur more cost. In addition, venue cost includes security deposit, room rental, insurance coverage, and parking. Another major cost involved in organizing a K-pop event is the production cost, involving expense of organizing the event, management of administrative elements, and attracting attendees. Thus, high operational cost involved in organizing music events is a key factor that hampers the growth of the global K-pop event market.
The K-pop events market is segmented into type, revenue source, gender, and region. By type, the market is divided into rock, jazz, pop, and others. Depending on the gender, it is divided into male and female. By revenue source, the market is divided into tickets, sponsorships, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report highlights numerous factors that influence the growth of the global music event market. This report further outlines the current trends and key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key market players to increase their market share and sustain intense competition in the industry.
The key players analyzed in the report are Live Company Group plc., PK-UK Events Limited, SubKulture Entertainment, Filmmaster Group, CJ Co., Ltd., JYP Entertainment Co. Ltd, SM Entertainment Group, YG Entertainment Inc., Eventbrite, Inc., and HYBE Co., Ltd.
The government's increased investments in infrastructure development and connectivity are also anticipated to have a significant impact on the market for music events. The governments of the emerging nations in the Middle East, Africa, and Asia-Pacific are making investments in the construction of roads, trains, and other forms of connection.
K-pop Events Market SegmentsBy TypeRock
Jazz
Pop
Others
By Revenue SourceTickets
By Sub-typeOnline
Offline
Sponsorships
Others
By GenderMale
Female
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Netherlands
Rest of Europe
Asia-Pacific
Japan
China
South Korea
India
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
South Africa
Rest of LAMEA
KEY MARKET PLAYERS PROFILED IN THE REPORTFILMMASTER GROUP
EVENTBRITE, INC.
LIVE COMPANY GROUP PLC.
SUBKULTURE ENTERTAINMENT
SM ENTERTAINMENT GROUP
JYP ENTERTAINMENT CO. LTD
YG ENTERTAINMENT INC.
HYBE CO., LTD.
PK-UK EVENTS LIMITED
CJ CO., LTD.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the k-pop events market analysis from 2021 to 2031 to identify the prevailing k-pop events market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the k-pop events market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global k-pop events market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy TypeRock
Jazz
Pop
Others
By Revenue SourceTickets
Sub-type
Online
Offline
Sponserships
Others
By GenderMale
Female
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Netherlands
Rest of Europe
Asia-Pacific
Japan
China
South Korea
India
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
South Africa
Rest of LAMEA
Key Market Players
CJ Co., Ltd.
Eventbrite, Inc.
Filmmaster Group
HYBE Co., Ltd.
JYP Entertainment Co. Ltd
Live Company Group plc.
PK-UK Events Limited
SM Entertainment Group
SubKulture Entertainment
YG Entertainment Inc.
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