Which K-Pop Fandom Spends the Most on Idol Groups?
Market research company iPrice recently released an insightful analysis on the rankings of K-pop fandoms around the world that spend the most amount of money on idol groups. Based on the survey results, fans in the top fandoms are reported to spend an average of 1422 on their favorite idol groups.
BTS Fanbase Leads the Charge
ARMY, the fanbase of BTS, emerged at the top of this ranking. Each ARMY member spends approximately 545 on merchandise, 541 on concert tickets, and 336 on albums. Fans of BTS are known to own at least 15 albums and purchase at least five concert tickets. iPrice stated that enthusiastic BTS fans spend an average of 1422 per person, with the most significant expenditure on merchandise, albums, and tickets.
Other Notable Fandoms
ONCE, the fanbase of TWICE, comes in at the second position, spending an average of 824 per person. Although their fans dedicate a considerable amount to concert tickets and albums, the average expenditure on merchandise is less at 173. TWICE's fanbase has seen an exponential growth, with their cumulative sales of Korean and Japanese albums surpassing 10 million copies in the year.
BLINK, the fanbase of BLACKPINK, ranks third with an average spending of 665 per person. Fans spend around 349 on merchandise, 161 on albums, and 155 on concert tickets. Despite their shorter promotion period and fewer album releases, BLACKPINK has set multiple milestones, becoming the first K-Pop girl group to be a million-seller with their first full-length album The Album. The group also holds the second position in YouTube subscribers, following Justin Bieber.
The Global Expansion of K-pop
The global fan base for K-pop continues to expand, reaching far beyond Asia into the United States, Europe, and South America. In 2020, Korean album exports reached a record high of 170 million, a remarkable increase of 94.9 percent from the previous year. The number of countries exporting K-pop albums has nearly doubled, from 78 in 2017 to 114 in 2020.
The popularity of K-pop groups like BTS, TWICE, and BLACKPINK has not only expanded their fan bases but also made them economic powerhouses. The diverse range of merchandise, from phone cases to home décor items, has contributed to the rising spending trends among K-pop fans.
With continued global recognition and increasing fan engagement, the economic influence of K-pop continues to grow, underlining its status as a cultural phenomenon crossing international borders.
Key Takeaways:
Most Spending Fandoms: BTS fans (ARMY) spend the most, with an average of 1422 per person. Diverse Merchandise: The range of merchandise available has led to higher spending on items such as photo cards, clothing, and home decor. Global Expansion: K-pop's fan base has expanded to countries like the U.S., Europe, and South America, increasing album exports significantly.Harnessing the power of data and fan analytics, K-pop continues to thrive, setting new records and breaking barriers in music and entertainment.