![BTS appeared on the American NBC broadcast'Today Show' in February of last year. [박현영 기자]](https://i0.wp.com/pds.joins.com/news/component/htmlphoto_mmdata/202102/28/afa4d887-378e-42f6-bc83-f60bb855b8ae.jpg?w=560&ssl=1)
BTS appeared on the American NBC broadcast’Today Show’ in February of last year. [박현영 기자]
The Wall Street Journal (WSJ) said on the 27th that ( Local time) reported.
It is interpreted that the Japanese pop music industry, which was pushed by K-pop, tried to re-challenge in cooperation with AEG, who helped enter the American market such as BTS and Black Pink. The two companies decided to set up a joint venture named’AEGX’ to share expertise related to ▶artist ▶performance hall ▶festival ▶global tour.
WSJ said in an article titled’BTS and K-pop occupied the world, but these companies say that J-pop will be even bigger’, AEG Presents made a bet that the J-pop market will be bigger.
J-pop’s movement seems to have been affected by the expansion of online streaming services along with the case of successful K-pop artists in the global market. According to Spotify Technology, a music streaming service provider, J-pop’s share outside the Japanese market in January increased by 117% compared to two years ago.
“We have had many events where Western artists have come to Japan and have had success over the years,” said Kuroiwa Katsumi, CEO of AVEX. “There weren’t many Japanese artists reaching out to global audiences or performing big shows around the world. “I believe it’s time to go global.”
AEG estimates that sales in Japan will grow from 50 million dollars (563 billion won) to 200 million dollars (2252 billion won) annually within the next five years. However, it is expected that the actual growth will take time as the performance market is hit hard by Corona 19. According to WSJ, global concert sales last year was $6.5 billion (7.3 trillion won), a sharp decline from $26.1 billion (29.39 trillion won) in 2019.
Reporter Jeong Young-gyo [email protected]
