K-pop is facing a problem if BLACKPINK and BTS don’t have any successors
The famous K-pop sector in South Korea, which is linked to the Hallyu phenomenon worldwide, is facing a domestic crisis as a result of declining sales, new bands finding it difficult to duplicate previous achievements, and falling share prices at leading agencies. As the industry turns its attention to catering to a worldwide audience, worries about alienating home fans grow despite the success of globally recognized performers like PSY, BTS, and BLACKPINK.
As per the analysis by DW, the decline in the local market aligns with the ongoing ascent of K-pop artists globally, as groups such as BLACKPINK and BTS are garnering great popularity. Analysts warn, nevertheless, that this international success shouldn’t eclipse the necessity of preserving domestic support, since devoted fans have been the cornerstone of K-pop’s ascent.
Seoul National University economist Park Saing-in draws attention to the discrepancy between K-pop agencies’ stock market performance and the popularity of the genre worldwide, arguing that while the genre continues to succeed abroad, the lack of fresh breakthrough stars casts doubt on its ability to expand in the future.
Concerns within the industry have been exacerbated by recent releases from well-known artists like ITZY and NMIXX and debuts by up-and-coming bands like BabyMonster, which have failed to make a big impression on local charts. Sales decreases for bands such as Le Sserafim are indicative of a wider downward trend in domestic demand.
The stock valuations of key management agencies, including YG Entertainment, HYBE, SM Entertainment, and JYP Entertainment, have significantly declined as a result of the uncertainties surrounding the marketability of domestic stars. Agencies are responding by introducing new artists such as Treasure, TWS, Katseye, and NCT Wish; yet, questions remain over their potential to achieve the same level of popularity as their forerunners.
Beyond sales numbers, the business has internal issues that impact fan opinions, such as interruptions like BTS members being required to perform national service and controversies like Karina’s relationship disclosure. When agencies try to keep their stars’ public personas consistent with the realities of their personal lives, it backfires on fans and erodes domestic support even more.
Because of the concerns surrounding the marketability of domestic stars, the stock prices of prominent management agencies, such as YG Entertainment, HYBE, SM Entertainment, and JYP Entertainment, have drastically fallen. In response, agencies are bringing in new musicians like NCT Wish, TWS, Treasure, and Katseye, but it’s unclear if these performers will become as well-known as their predecessors.
Beyond revenue figures, the company’s internal problems—including incidents like Karina relationship declaration and disruptions like BTS members being forced to complete national service—have an effect on fan sentiment. Agencies that attempt to maintain a balance between the public image of their stars and the truths of their private lives risk alienating fans and further undermining support at home.
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