On January 10, J-Hope's (BTS) management company announced that the male idol will hold his first world tour in his career, starting in Seoul in February.
At the same time, Osen newspaper said that Jisoo will return with a new solo music product in February. Blackpink is expected to reunite and release a new album in 2025.
According to the Korea Times, the K-pop industry is eagerly awaiting the comeback of BTS and Blackpink this year. Because K-pop album sales dropped significantly in 2024, when both groups went on hiatus.
In 2023, K-pop album sales surpassed the 100 million mark. According to Circle Chart, run by the Korea Music Content Association, cumulative K-pop album sales in 2024 were around 92.7 million copies, down 19.5% from the 115.2 million copies recorded in the same period in 2023.
The sharp drop in sales reflects the decline in the absence of big stars who once led the market such as BTS and Blackpink.
The number of artists selling more than 3 million albums per year fell from 11 artists in 2023 to 7 artists in 2024, while the number of artists selling more than 1 million albums fell from 26 to 24.
2024 is the first year in a row that Kpop album sales have declined after 9 consecutive years of good growth since 2015.
The market slowdown is partly due to a decline in bulk album purchases for fan signing events, said Kim Jin-woo, a senior researcher at Circle Chart.
As fans are no longer confined by the COVID-19 pandemic, their spending shifts to live concerts.
Kim Jin-woo added: "Last year's decline was mainly due to the market adjusting after being "fake" in achievements. With the comeback of BTS and Blackpink, there are many positive factors to predict another year of album sales reaching 100 million copies."
“From Stray Kids’ overseas stadium tour in the first half of the year to BTS’s comeback in the second half, the global K-pop scene is entering a new growth cycle in the U.S. and European concert markets,” said researcher Kim Hyun-yong.
Industry insiders believe album sales will rebound to 100 million copies in 2025, when BTS members complete their military service in June.
Meanwhile, the Korean music market also has new points, such as SEVENTEEN's sub-unit BSS releasing a new EP earlier this year and new artists from JYP Entertainment, SM Entertainment are expected to debut.
