K-Pop is a global phenomenon but perhaps it has escaped the attention of older investors – so here’s a bluffer’s guide.
Live Company Group PLC (AIM:LVCG) on Thursday announced that in 2022 it will be putting on the largest K-Pop concert ever to be held in Europe.
That sounds like a big deal (and it is), but the initiated – i.e. British investors of a certain vintage - may well wonder what on earth a ‘K-Pop’ is?
Never fear, here, Proactive has a quick 2-minute explainer.
K-Pop is one of the fastest-growing music genres in the world, outpacing most others in terms of sales, streaming, and paid subscriptions.
With an audience growth rate of around 44.8% year on year, it’s a major cultural phenomenon.
It is very much a genre that’s in tune with the zeitgeist, so it should surprise no one that it is already being embedded in digital economies through a variety of NFT and metaverse integrations in recent weeks and months.
The Live Company event, to be held in Frankfurt, is expected to host some 44,000 fans.
So, what is K-Pop?
Korean popular music, or K-Pop, originates from South Korea and is performed by groups of four up to 23 members, the idea is to give fans a variety of ‘idols’ to relate to.
K-Pop songs contain various musical influences including hip-hop, jazz, electronic dance, and rock while incorporating hooks, rapping, and instrumentals (for dance breaks) into their music.
Aspiring stars, or ‘idols’ as they’re called in Asia, are selected by entertainment agencies before receiving media training, learning choreography, working on vocals with coaches, and practicing live performing.
Idols can practice for years before they are placed into groups, which are picked based on the idol’s personalities, voices, and performance skills.
K-Pop is part of the ‘Korean Wave,’ also named Hallyu, which refers to the global popularity of Korean pop culture and the country’s TV shows and films.
BTS, Blackpink, Exo, and Girls’ Generation have become some of the most successful groups in recent times.
In response to the increased influences of Western culture in the late 1980s and early 1990s, groups saw the opportunity to merge elements of different Westernised music genres with the contemporary sounds of South Korean music.
Why is K-Pop so popular?
· Bold costumes and colourful fashion – many groups are also fashion influencers
· Catchy hooks and sing-song lyrics
· The adoption of storytelling in K-Pop songs and music videos
· Lyrics often incorporate English phrases as well as Korean ones
· Diverse talent: as well as singing and dancing, many idols also take on major roles in tv shows and movies