The K-pop industry presents a compelling case study due to its unique blend of market dynamics, globalization, and cultural production. As a meticulously structured industry driven by entertainment conglomerates like HYBE, SM, YG, and JYP, K-pop operates within an oligopolistic market, where a few dominant firms control artist development, production, and distribution. From an economic perspective, the industry's rigorous trainee system, heavy investments in branding, and reliance on international markets showcase how capital, labor, and supply chains interact in a cultural economy. The intersection of cultural economics is evident in the way K-pop leverages national soft power, influencing tourism, consumer goods, and government-backed cultural initiatives like Hallyu (the Korean Wave). Additionally, the K-pop model demonstrates innovative monetization strategies, including album sales driven by fan engagement tactics, dynamic pricing in concert tours, and the use of digital platforms like Weverse and YouTube to generate revenue through direct artist-fan interactions. Studying K-pop provides insight into how music can function as both a commercial product and a cultural export, blurring the lines between artistic creation and economic strategy.
Kim, J., Kim, K., Park, B., & Choi, H. (2022). The Phenomenon and Development of K-Pop: The Relationship between Success Factors of K-Pop and the National Image, Social Network Service Citizenship Behavior, and Tourist Behavioral Intention. Sustainability, 14(6), Article 6.
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