K-Pop's Paradox: Why BTS Fans Aren’t K-Pop Fans

K-Pop is in a unique situation. The genre “feels” like it’s everywhere. BTS, Blackpink, Stray Kids, and KPop **Demon Hunters have topped Billboard and Netflix charts. But recent data shows that roughly 2% of global streams are from K-Pop, and the genre is and trending down.

We are joined by Will Page, former Chief Economist at Spotify and author of Pivot. He released a new report on Music Business Worldwide in collaboration with Jeongbeom ‘JB’ Kim, Chief Data Officer at the Korean-based KreatorsNetwork.

We discussed how K-Pop’s demand is centralized at the top, why even a phenomenon like KPop Demon Hunters didn't lift the rest of the genre, and what Western labels keep getting wrong when they try to copy the model. We dive deep into Korea's "export or die" culture, and what other sports may teach music about reaching new audiences.

CHAPTERS

04:47 The Status of K-Pop

08:28 The Impact of BTS' Hiatus

17:02 The Limitations of Superfan Monetization

24:38 "Export or Die" Model

29:44 Inflation's Impact on Music

31:28 Lessons from Formula 1

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