Korea’s Pop Business Model

Added on -2020-02-19

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Running head: MAKING OF K-POPMaking of K-popName of the StudentName of the UniversityAuthor note
1MAKING OF K-POPCompetitive strength ofKorea’s popmusic industryIn the global music industry, Korean pop has revolutionized and many K-pop singers likeSNSD, TCQX, Wonder Girls, Psy who has currently attracted unprecedented followers inEurope, Asia and North America. They possess competitive strength as they have unique culturalphenomena resting on the concept of cultural hybridity. They have evolved through acomplicated globalization process, musical content that originated from European or PopAsianism. K-pop have evolved in the global music industry through a new musical content andmade efforts to spread to the social capital and global talent pools in the former disconnectedmusic industry instead of making efforts to emaluate and modify the Japanese pop culture. Thisdepicts that in the global music industry, Korea occupies structural hole existing between EastAsian and Western music industries (Russell 2012). The idol system and star factory in Korea is breeding multi-talented entertainers wherethey have refined the true relationship between consumer and artist. The K-pop industry isfocused on the creation of connection between the talent and consumers to bring out the artistand not just the music. They also worked to import the westernized music, melodies, fashion andlanguage to Korean music industry. They followed the concept of localization and led to thecreation of pseudo-hip Korean culture. They have their own global strategy to localize thewestern music into K-pop and present it internationally into the global market, as music can berelatable and crossed between the cultures based on their unique production (Koo and Sung2016). Furthermore, they use new technologies as social networking services (SNS)being themost connected country in the world. K-pop focuses more on digital distribution and touring andbecomes the highest share in the global music world (Hong 2014).

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