- Report ID : MD2986 |
- Pages : 220 |
- Tables : 45 |
- Formats :
The K Pop Memorabilia Market is segmented By Product (Signed Memorabilia, Photo Cards, Official Goods and Collaboration Release, Concert Tickets, Merchandise, Limited-edition Releases, Magazines, Posters, Figurines (Bobble Head, Action Figurines, Dolls), Plushies & Soft Toys, Original Albums, NFTs) By Artist/Band Group (BTS, BLACKPINK, EXO, TXT, SEVENTEEN, GOT7, NCT, TWICE, Stray Kids, Others), By Distribution Channel (Licensed Sellers, Specialized Collectibles Web Portals, Online Shopping Websites, Auction Houses, Offline Retails), and By Geography (North America, Europe, APAC, ROW).
The K Pop Memorabilia Market is expected to grow with a CAGR of 4.2% during the forecast period of 2023 to 2033
K-Pop has a massive fandom around the globe. With increasing influence of social media websites and global concerts tours, there has been an observant surge in the K-pop fanbase. These fans often show their support be collecting K-pop memorabilia in the form of albums, magazines, merchandise, plushies, and other items associated with their favorite music band. The demand for a particular memorabilia depends on various factors like its rarity, type of memorabilia, and the artist or group with which it is associated. K-pop fans consider themselves a community, and their desirability to gain exclusivity drives the demand for such memorabilia.
K-pop Industry favors from a huge international marketplace
A huge portion of K-pop companies’ revenue comes from overseas. Hype, the company that manages BTS, SEVENTEEN, and Enhypen recorded more than 70% of its total sales revenue from international customers; where North America and Asia held a total share of over 32%. According to YouTube data, the famous girl band BLACKPINK achieved a total view of 9.15B, 96% of which were from international countries. Other popular groups like TWICE and Stray Kids also experienced a surge in overseas sales, resulting in the rapid rise of K-pop music groups.
Demand for Memorabilia driven by a Sense of Belongingness and Emotional Bond
Its proven fact that people with common interests and liking go along better, this is equally true in the case of K-pop fans. The fans often feel a sense of belonging with each other and call themselves ARMY. Fans often support their idols both emotionally and financially. Some people have the habit of collecting memorabilia, these are regular collectors and consider it a hobby. Some people spend on only music albums to drive their favorite artists’ music charts up, while some like attending live concerts.
What do K-pop fans invest their Money in
Among various categories of K-pop memorabilia, photocards are the most popular segment in the market, followed by physical albums, posters, magazines, and other seasonal and limited items. Most of these items are exorbitantly priced as there is a lack of stores in every country due to which they are mostly shipped from South Korea to reach fans who are miles away. The popularity of a memorabilia also depends on the music artist or group. BTS, BLACKPINK, Stray Kids, SEVENTEEN, and GOT7 are some of the popular music groups. Their parent companies which include YG Entertainment and SM Entertainment among others, actively release new merchandise collections, which are often released in limited numbers, forcing the fans to buy them as soon as they land in the market.
NFTs and K-pop
South Korean Companies and K-pop Labels have been trying their best to establish their foot in NFTs. There have been heavy investments from their side. There has been a slowdown at the beginning of the year 2022, but the South Korean companies continue to invest. NFTs are revolutionizing the entertainment K-pop industry allowing the fans to connect with their idols in new and exciting ways.
K-pop Collaborations with famous Brands
K-pop bands specially BTS and BLACKPINK are often seen collaborating with big successful brands, these collaborations result in limited edition launches. Such type of memorabilia lies in the expensive category mostly. For instance, in the collaborative collection of BTS and New Balance, they released cushioning slides which are currently priced at $80. Similarly, several collabs like FILA X BTS, H&M X BLACKPINK, SAMSUNG X BTS, Jennie X Calvin Klein, etc.
Distribution Channels
The market for K-pop Memorabilia around the world has its majority of transactions through online mode only, because of lack of physical stores in the overseas. South Korea has a number of physical stores that sell legit collection and related memorabilia, many of which also operate in the online mode and make deliveries to every part of the world. Apart from stores, concert merchandise, and concert ticket memorabilia are also famous modes of distribution. Licensed sellers like YG Entertainment and SM Entertainment among others, actively release new merchandise collections, which are often released in limited numbers, forcing the fans to buy them as soon as they land in the market. Sales from auction houses hold a minor percentage now. There is a scope for establishing offline distribution channels in countries like India, United States, South America, and Indonesia as they are experiencing a steady demand for K-pop Memorabilia.
Regional Landscape
As stated earlier, a huge proportion of K-pop’s sales value comes from the overseas. They have fanbase from countries covering China, Japan, Thailand, South American Countries, United States, India, and Indonesia. The views on music videos of popular K-pop bands are also majorly from overseas, as only 4-5% of the total views are from the domestic country. By country, Indonesia recorded the highest number of views, followed by Thailand, India, the Philippines, and Mexico. These countries thus have an active fanbase and demand for K-pop Memorabilia. Asian countries are on the top, followed by North America and Latin America.
Competitive Landscape
Ktown4u and MusicKorea, are two of the very famous K-pop memorabilia stores in South Korea, which also operate online and sell products all over the world. Ktow4u sells K-pop albums and merchandise, which is available in Korean, English, Chinese, Japanese, Thai, and Indonesian languages for overseas fans. Etsy, eBay, and Amazon are popular e-commerce websites that provide popular K-pop Memorabilia like trading Face Cards, merchandise, albums, and photo books.
Recent Strategic Developments
Years considered for this report
K-Pop Memorabilia Market Research Report Analysis Highlights
K-Pop Memorabilia Market Segments
By Product (Revenue, US $Billion, 2023 - 2033)
By Artist/Band Group (Revenue, US $Billion, 2023 - 2033)
By Sales Channel (Revenue, US $Billion, 2023 - 2033)
By Geography (Revenue, US $Billion, 2023 - 2033)
K Pop Memorabilia Market Players
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