CD sales up as pandemic ends and K-pop goes global

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CD sales up as pandemic ends and K-pop goes global

BTS sold 2.16 million copies of "Proof" in a single day. [BIG HIT MUSIC]

BTS sold 2.16 million copies of "Proof" in a single day. [BIG HIT MUSIC]

 
When "Proof" hit the market on June 10, 2.16 million copies of the BTS CD were sold in a single day. The boy band sold 2 million copies of "Map of the Soul: 7" when it was released in 2020.  
 
Seventeen, a HYBE group, sold 1.76 million CDs in a single day last month.
 
As the pandemic lifts, more albums, invariably in CD format, are being sold.
 
In Korea, many people buy music on physical media in order to get promotional items enclosed, such as tickets to meet and greets. Sometimes they will buy many copies and throw away the CD to get the gift and help increase sales for bands or groups they support.  
 
According to a Hyundai Motor Securities report, last month 9.96 million K-pop albums were sold, up roughly 93 percent year-on-year. It is a significant increase from the previous record of 7.62 million copies in June 2021.
 
Cumulative sales from January to May totaled 28.65 million, a 38.6 percent increase compared to the same period last year.
 
In May, Seventeen sold 2.24 million albums and Tomorrow X Together sold 1.63 million. Combined, their sales were 40 percent of total K-pop album sales that month.
 
Lim Young-woong, a solo artist, sold 1.4 million albums, NCT Dream 670,000, Le Sserafim 410,000 and GOT7 400,000.  
 
HYBE acts sold 48 percent of all K-pop albums that month.
 
Album sales are significant considering that most consumers today opt for streaming services and buy songs in digital formats online.  
 
Higher sales are in part the result of K-pop bands expanding overseas, including BTS, Blackpink, Seventeen, Stray Kids and Twice.
 
K-pop recognition surged during the pandemic as many teenagers who were staying at home due to social distancing were exposed to K-pop via YouTube, Twitter and other services.  
 
The growing influence of K-pop on mainstream culture is becoming more apparent.  
 
Korean-American singer AleXa last month became the first artist to win NBC-produced "American Song Contest" as a K-pop artist.  
 
"A few years ago, K-pop was only popular in some Asian countries, and it was treated as non-mainstream music in the U.S. and Europe," said Lee Hyun-ji, a researcher at Eugene Investment & Securities. "Since BTS succeeded in entering the U.S. market, the potential of K-pop is growing remarkably."
 
According to Gaon Chart, over the past 10 years, BTS sold 32.7 million albums. NCT, Exo, and Seventeen has sold more than 10 million. Twice, Stray Kids, GOT7, Wanna One, Tomorrow X Together and Monsta X have sold more than 3 million.
 
In May, 410,000 people attended K-pop concerts, and in June 390,000 attended. The numbers are approaching pre-pandemic level.
 
HYBE, SM, JYP and YG are expected to achieve record-breaking results this year.  
 
"As the release of new artist albums and overseas tour schedules increase in the second half of the year, earnings estimates are expected to be revised upward," said Lee Hye-in, a researcher at Yuanta Securities. "In addition to concerts being resumed, new business ventures such as blockchain and non-fungible tokens (NFTs) that the entertainment companies are currently working on are likely to see results within this year."

BY BAE JUNG-WON [lim.jeongwon@joongang.co.kr]
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