Over 2.8 million people expected to attend K-pop concerts abroad in 2022

K-pop boy band BTS performs during its concert at Allegiant Stadium in Las Vegas, April 9 (local time). Courtesy of Big Hit Music

By Dong Sun-hwa

Some 2.85 million people are projected to attend K-pop concerts in other countries in 2022, as the world seeks to transition from a pandemic to an endemic, according to Hyundai Motor Securities.

In its latest report, the brokerage house forecast HYBE, home to K-pop stars like BTS, Tomorrow X Together (TXT) and ENHYPEN, to attract 1.27 million concertgoers outside Korea this year, with SM Entertainment ― which houses NCT, EXO and aespa ― drawing some 630,000 spectators. JYP and YG Entertainment are likely to garner 500,000 and 300,000 audience members, respectively. The former represents TWICE, ITZY and Stray Kids, while the latter manages BLACKPINK and TREASURE.

"The 2.85 million figure is approximately 43 percent of the total number of global concertgoers in the pre-pandemic year of 2019," the securities company said, adding that there were more than 6 million spectators three years ago.

Due to the COVID-19 pandemic, K-pop singers could not stage many live concerts over the last two years, leading their companies to lose one of their most profitable revenue streams. Thus, an increase in the number of in-person concerts, which are far more lucrative than online shows, is likely to beef up their sales and revitalize the K-pop industry. On average, an online concert costs about 30,000 won to 40,000 won ($24.50-$32.70) per seat, while a live concert can cost more than 100,000 won.

K-pop behemoth BTS has already made an early start, playing its "BTS Permission to Dance on Stage ― Las Vegas" gigs at Allegiant Stadium on April 8 and 9 (local time) in front of 100,000 fans. The septet is poised to throw two more shows on April 15 and 16, attracting 100,000 more people.

K-pop girl group TWICE / Courtesy of JYP Entertainment

TWICE, which accumulated an audience of 100,000 on its world tour in February, is set to hold two more concerts at Banc of California Stadium on May 14 and 15, becoming the first-ever K-pop girl group to play a stadium concert in North America. The nonet is projected to attract about 44,000 fans for its upcoming shows.

Stray Kids will also tour Los Angeles, Chicago and Tokyo, among other cities, before July. ATEEZ is scheduled to perform in six cities in Europe, with TREASURE visiting Japan in November to perform in six cities.

The Boyz will embark on its first world tour, titled "The Boyz World Tour: The B-Zone," next month, too.

"The group will begin its tour in Los Angeles on May 29 and play concerts in six major cities in the U.S.," its agency IST Entertainment said in a statement, Thursday. "Then, the members will fly to Europe and take the stage in four cities including the U.K and Netherlands."

"Over the past years, K-pop labels have been waiting for the right time to resume their musical activities outside Korea," an industry insider said. "It seems more singers will fly abroad to rev up their international presence."

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