You won't find the blues invading K-Pop any time soon. Psy, Big Bang, Exo, G-Dragon, and for that matter, every South Korean record executive are probably the happiest people in the world. Not only are they doing what they love, but in a time when the record industry is in a free fall, K-Pop is thriving, and stars are making a pretty penny out of it as a result.
The income of South Korean K-Pop stars has soared over the past three years, according to South Korea's National Tax Service. As well, in the first 9 months of 2014, all three of the major K-Pop record labels reported record profits. The burgeoning Chinese economy has aided K-Pop in its quest for new growth. A study by the Chinese Cultural Industry Research Center found that the K-Pop band Exo was amongst the highest grossing concert performers in the country. Granted, it helps that the band recruits performers from China directly, but that certainly isn't the main reason.
Between 2010 and 2013, as was reported by MusicBusiness.com, the average yearly income of K-Pop singers rose 72.2% to 43,000. However, not everyone is getting a slice of the pie. The wannabes are, for the most part, left out in the cold . Sure, South Korean salaries grew on most fronts, but not to the same degree as singers. Salaried actors saw only a meager 24% raise in that three year period.
Media outlets have attributed the high jump in revenue to increased focus on revenue-generating activities outside of South Korea. Video creation has been at the head of the revolution. Psy's "Gangnam Style" video is the most viewed video on YouTube of all time. It is probably more familiar, certainly because of his unique dance, to consumers than the song itself. The record companies have all gone to great lengths and took meticulous care in the short films they present to the public.
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