Anyone with children endlessly rewatching “KPop Demon Hunters” might assume that South Korean content has already taken over the world.
In fact, K-Pop has enormous room to grow in a global music industry expected to be worth just under $200 billion in 10 years. As it does, it should shake off any concerns about abandoning its roots. Like hip hop, there’s no reason why the genre can’t have a similarly inclusive trajectory while remaining true to its core.
A co-production partnership between Warner Bros Discovery and CJ ENM announced recently is just the latest example of the strong international demand for Korean movies and TV shows. According to Netflix, an early mover which arrived in 2016, over 80% of subscribers watch K-content. It’s part of a larger cultural movement of exports including music, beauty, food and fashion that was worth more than $31 billion last year. For comparison, that’s just under half the value of all automobiles sold overseas.
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