The 'Peak of K-pop' Theory Shattered by aespa and Rosé
The 'Peak of K-pop' Theory Shattered by aespa and Rosé
《Lee Min-kyung's Siren》

Lee Min-kyung from TenAsia sounds the siren on the rapidly evolving entertainment industry. She aims to highlight unseen issues and alert us to the threats and changes surrounding the entertainment world.


Despite the 'K-Pop Peak Theory,' the K-Entertainment industry is experiencing a resurgence. Last year, groups like aespa led the charge to break away from the 'predictable K-Pop,' and fans are responding positively to these transformations. Industry insiders note that while music streaming has decreased, revenue from concerts and content has surged, leading to an overall increase in total sales. They predict that a major growth phase for K-Entertainment is underway.
Predictable K-Pop, A Thing of the Past
The 'Peak of K-pop' Theory Shattered by aespa and Rosé
The 'Peak of K-pop' Theory Shattered by aespa and Rosé
Industry experts believe that aespa's 'Supernova,' 'Whiplash,' and Rosé's 'APT.' have shattered the limitations of traditional K-Pop. Idol groups, once known for catering to mainstream tastes, are now introducing unfamiliar music to the public. Additionally, they are shedding the 'mystique' and courageously incorporating personal stories into their music.

An industry insider stated, "K-Pop has traditionally been very conservative, almost to the point of self-replication. However, this formula is now being challenged." They added, "Since aespa's 'Supernova,' major entertainment companies are seeking 'music that others aren't doing.' They're exploring genres that are gaining traction overseas but haven't yet entered the domestic market."

The insider further explained, "If aespa weren't already a well-known group, 'Supernova' might not have gained such fame. It's because a popular group like aespa released this new music that it became a hit." Aespa's 'Supernova' topped Billboard's '2024 Best 25 K-Pop Songs' and remained on the Billboard Global 200 chart for 25 weeks, garnering global attention.

Rosé also made waves with 'APT.,' reaching No. 3 on the Billboard HOT 100 chart, solidifying her status as a pop star. This song is a positive example of breaking the stereotype that "domestic idols don't turn their personal lives into music."
The 'Peak of K-pop' Theory Shattered by aespa and Rosé
The 'Peak of K-pop' Theory Shattered by aespa and Rosé
K-Pop has often been criticized for its lack of musical diversity. Some pointed out that K-Pop was overlooked at the '67th Grammy Awards' due to a perceived lack of musicality. Others expressed frustration, claiming that "K-Pop doesn't offer anything new."

Critics argued that without a second BTS or BLACKPINK, K-Pop had reached a standstill. BTS was the first idol group to address intimate emotions like melancholy, while BLACKPINK sang about individuality with unique and intense beats. Fans observed that subsequent groups were merely trying to emulate them. However, there is now a growing consensus that "while there were limitations, change is beginning."
The 'Peak of K-pop' Theory Shattered by aespa and Rosé
The 'Peak of K-pop' Theory Shattered by aespa and Rosé
Changing Consumption PatternsVoices advocating the 'K-Pop Peak Theory' persisted until recently, as music site consumption on platforms like Melon, Bugs, and Genie declined, and K-Entertainment companies faced earnings shocks last year. However, the current trend suggests that the profitability of the K-Pop industry remains intact. The way music is consumed has shifted from streaming to platforms like YouTube, short-form content, and concerts, but the K-Entertainment market hasn't shrunk.

In fact, concert revenue in 2023 shows a significant difference compared to 2019, before the COVID-19 pandemic. The combined concert revenue of HYBE, SM Entertainment, and JYP Entertainment in 2023 is 2.7 times higher than in 2019. YG Entertainment's revenue increased 53.9 times during this period, thanks to BLACKPINK's 2023 world tour.

According to the Korea Music Copyright Association, the amount of video (portal) transmission fees settled domestically in 2023 increased by 396% compared to 2019, reaching 85.29 billion won. Last year, the total copyright fees collected reached a record high of 434.5 billion won.
The 'Peak of K-pop' Theory Shattered by aespa and Rosé
The 'Peak of K-pop' Theory Shattered by aespa and Rosé
Major entertainment companies are expected to see a 10-20% increase in sales this year compared to last year. According to domestic securities firms' consensus (average estimates), HYBE's sales are projected to increase by 20.7% during this period. SM and JYP's sales are also expected to rise by 14.7% and 17.8%, respectively.

The securities industry believes that "major entertainment companies can boost sales through world tours." This is due to the upcoming return of all BTS members from military service and the anticipated full-group activities of BLACKPINK. There is also high anticipation for new acts like SM's girl group Hearts2Hearts debuting on the 24th and JYP's boy group Kickflip, which debuted last month on the 20th.

Lee Min-kyung, TenAsia Reporter 2min_ror@tenasia.co.kr