With so many new groups that sound and look alike, as well as numerous new K-dramas on an ever-growing number of streaming platforms, the Korean cultural machine may be jeopardizing its own long-term viability by providing fans with an overwhelming amount of options.
The presence of a worldwide audience has the potential to alter the game. In a rapidly aging culture,
Korean entertainment titans' executives understand that they must focus on international markets rather than depending only on local consumers to increase the pie.
With this in mind, K-pop management companies have been astute in broadening the appeal of their acts by purposefully recruiting members of various nationalities who are fluent in multiple languages, including Chinese, English, and Thai, in order to strengthen their groups' ability to operate internationally.
This manner, if one audience segment abandons K-pop, such as when South Korean-Chinese ties deteriorated in 2017, they may rely on fandoms in other areas of the globe.
However, the lean, mean K-pop machinery may be harmful to artists. The dark side of the high-stakes lottery of dazzling K-pop success is often covered by international media.
Countless young individuals toil for years in the hopes of striking a contract with one of the large management firms. Many of them are subjected to deplorable conditions, including physical and sexual abuse in certain situations.
Even for the lucky few who make it big, celebrity may be a drag. Several high-profile entertainers have committed suicide in recent years as a result of the demands of fame.
As was the case with Goo Hara and Sulli, Korean netizens may be harsh with stars who they believe have acted inappropriately.
The Kpop Industry Is Consolidating
Big Hit's decision to purchase a US$63 million interest in YG Entertainment, an older K-pop management behemoth that has been embroiled in a series of controversies in recent years, received less notice than the partnership with Universal.
Big Hit is also developing an online fan community in collaboration with Naver, South Korea's primary web site and a rising IT behemoth.
The trick, like with so much of today's internet business, is to keep people engaged by giving them a reason to keep refreshing the page and paying attention.
Because Big Hit is now publicly listed, shareholders will put pressure on the firm to stay profitable and expand regularly.
Even if the K-pop industry becomes more congested, and even if the agency's future talents fail to chart, the firm will still have income streams and a built-in following thanks to these power maneuvers.
Maybe K-pop has become too large to be regarded as a passing phenomenon. Despite its saturation, K-pop will undoubtedly continue to have its major players.
Big Hit's latest steps presage an increasingly uneven economic world, in which a few businesses wield ever-increasing power and the uphill struggle for many hopefuls becomes ever more difficult.