After a difficult 2024 with declining album sales, the K-pop industry is gearing up for a strong comeback in 2025, relying on its big names and intellectual property (IP) to overcome concerns of stagnation.
The lack of full-member activities from popular groups like BTS and Blackpink has had a significant impact on the Korean entertainment industry in 2024.
According to Circle Chart, total album sales of the top 400 albums from weeks 1 to 50 (from January 1 to December 14, 2024) reached 92.67 million copies, down 19.5% compared to the same period in 2023.
This is the first time album sales have fallen in nine years, after rising steadily since 2014, peaking at more than 100 million copies in 2023.
By week 51 (December 21, 2024), the number of "million-selling" albums had dropped to 21, down from 34 the year before (2023).
In 2023, two albums sold over 5 million copies (Seventeen's FML and Stray Kids' "★★★★★") and one album surpassed 4 million copies (Seventeen's Seventeenth's Heaven).
Meanwhile, the best-selling album of 2024 just passed the 3 million mark.
Seventeen continued to lead in sales both years, but their numbers showed a sharp decline. Their 10th mini album "FML" sold 5.54 million copies in 2023, while their 12th mini album "Spill the Fills" sold just 3.18 million copies in 2024.
Data from the Korea Customs Service showed that total album exports reached $129.39 million in the first half of 2024, down 2.7% from 2023, marking the first negative growth in nine years.
However, the second half of the year recovered, with export revenue from July to November 2204 reaching 141.15 million USD - up 2.9% over the same period last year.
In this context, BTS and Blackpink are expected to lead the revival of Kpop in 2025 if they officially return.
For HYBE, 2025 has special meaning as BTS returns to full capacity.
RM, V, Jimin, Jungkook, and Suga will reunite after completing their military service, reaffirming their presence on the global stage.
YG Entertainment is pinning its hopes on Blackpink to top the list of prominent groups in 2025.
While members pursue solo projects, form new companies, or sign contracts elsewhere, YG retains exclusive management over their group activities.
Blackpink is set to make a full comeback and embark on a world tour scheduled for 2025. Their most recent tour in 2022 grossed around 300 billion won ($225 million).
