State of the K-pop economy Rising to the global stage

Olivia Jones

July 2026

This report explores the K-pop industry and how its ecosystem differs from that of the Western recorded music market – structurally, financially, and strategically. It analyses K-pop’s economic growth domestically and abroad, exploring both risks and future opportunities in superfan monetisation and beyond. In doing so, the report lays out a path for not only how the K-pop industry can continue to evolve and grow, but also the inherent lessons for Western labels in building their own superfan strategies.

Key data and insights in this report:

K-pop fans age distribution, monthly music spending, their ways of supporting favourite artists, and sentiment about fandom
K-pop fandom penetration on top countries from international consumer survey
Top 10 songs on MelOn Weekly Chart versus Billboard Korea Global K-Songs
Market sizing and revenue of Korean K-pop record labels for 2025
Recorded music and expanded rights revenue share of publicly-traded K-pop companies for 2025

Data used:

MIDiA Research Consumer Survey Q2 2021, US, Canada, Australia, UK, Germany, France, Sweden, South Korea, Brazil, n = 9,000;
MIDiA Research Consumer Survey Q2 2023, US, Canada, Australia, UK, Germany, France, Sweden, South Korea, Brazil, n = 9,000;
MIDiA Research Consumer Survey Q2 2025, US, UK, Australia, Canada, Germany, France, Sweden, South Korea, Brazil, n = 9,003
MIDiA Research K-pop Labels Revenue Tracker (06/26), South Korea

Companies and brands mentioned: HYBE, SM Entertainment, JYP Entertainment, FNC Entertainment, CUBE Entertainment, RBW Entertainment, Kakao, Universal Music Group, Weverse, MelOn, Billboard, Santos Bravos, CORTIS, AKMU, ILLIT, BTS, KATSEYE, Warner Music Group, Stray Kids, Sony Music Group, Berriz, NCT WISH, HUNTR/X, Kpop Demon Hunters, BLACKPINK

Methodological note:

This report includes publicly-reported revenue from January to December 2025 for HYBE, SM Entertainment, JYP Entertainment, YG Entertainment, Kakao Entertainment, FNC Entertainment, CUBE Entertainment, and RBW Entertainment
The revenue for Kakao Entertainment includes music revenue only (including revenue from music streaming platform MelOn) and does not duplicate SM Entertainment revenue
K-pop genre fandom penetration is compared between the nine countries (US, Canada, Australia, UK, Germany, France, Sweden, South Korea, Brazil) tracked in MIDiA’s Q2 consumer surveys for 2021, 2023, and 2025

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