How is the formula of K-pop evolving?

In April, I had an interview with Bloomberg’s original team. They sought to understand a facet of the K-pop industry by closely following SM Entertainment's boy group RIIZE. Personally, I found the interview very enjoyable. The results have now been released.

Everyone featured here are experts in K-pop. It would also be worthwhile to look for their social media accounts or check out any recent books or articles they have written.

K-Pop's evolving business model focuses on meeting fan demands and developing artists through rigorous training and concept-driven casting. While significant investments are required, the industry's growth potential remains high. The importance of global strategies and fan engagement is emphasized, with aspirations for K-Pop to become more mainstream while retaining its unique identity.

Financial investment in idol training varies by company, with estimates suggesting costs of around at least 850,000~4,000,000 USD over two years. This indicates the high stakes involved in nurturing a successful trainee.

Strictly speaking, K-pop exists within the music industry, but it is not solely a music business. It is an entertainment marketing and repackaging endeavor. I plan to write more about this in detail later.