Friday, 16 August 2013

[News] TVXQ-Girls Generation-BIg Bang, Economics Behind International K-Pop Concerts

TVXQ-Girls Generation-BIg Bang
Boasting perhaps the largest fan base to date, TVXQ recently proved once again their global popularity.

At a concert held in Beijing in March, over 10,000 fans were in attendance, tirelessly swinging their glow sticks and applauding at the top of their lungs throughout their idols' performance. During the five dome tour in Japan which will take place through this August, they have already taken reservations for 850,000 spots over 18 concerts. They will also perform at the mega-sized Nissan Stadium which seats over 70,000.

The admission ticket costs $110 on average, and the total revenue from 850,000 tickets sold is estimated to be close to $100 million. Last year, TVXQ had 570,000 fans in attendance in the duration of their world tour. Super Junior had 280,000, SHINee had 250,000, Girls' Generation and others had 300,000.

Many K-pop artists are more active in international concerts this year. With expanded markets, they are all looking to venture out to new places where there are plenty of demands.

YG Entertainment's Big Bang will have a huge piece of the global pie this year as well. In over 25 concerts in 8 countries, Big Bang will perform for over 500,000 fans. Despite a big increase in the number of concerts and tickets sold, the actual profit is expected to grow by only 20% due to weakening of the Japanese currency.

All in all, it is a win-win situation for artists and fans alike. Artists get to do what they love and receive a financial return for their service while fans get to see what they love.

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