“Only BTS comeback can save the industry”—Fans react to reports of K-pop album exports facing decline for the first time in 9 years in 2024

BTS has been serving in the South Korean military as its remaining members—Namjoon, Jimi, V, and Jungkook—enlisted in December 2023, following Jin, j-hope, and SUGA's enlistment. On July 17, 2024, MBC News reported a sharp decline in K-pop album sales for the first time in a decade.

The import and export trade figures provided by the Korea Customs Service showed a 2% decline in the first half of 2024. From January to June 2024, K-pop album exports amounted to $130.31 million (179.4 billion won) compared to the same period in 2023. This is the first time exports dropped again between 2015 and 2024.

Album exports recorded a sale of $13.8 million (19 billion won) in 2014, which dropped by 7% the following year. In 2015, album exports totaled $12.7 million (17.6 billion won). However, since 2016, sales consecutively increased and total exports were recorded at $132.9 million (183 billion won) in 2023.

The official X account of Korean chart updates, @kchartsmaster, posted the information. One X user commented on the post and wrote,

"Only BTS comeback can save the industry"

Netizens shared their opinions and stressed the Dynamite group's impact on the K-pop industry. They noted that after BTS enlisted in the military in December 2023, album exports dropped starting January 2024.

"Oh BTS You Need TO Come Back To Save The Industry," one fan wrote.

"Saw an Instagram army saying "I cant wait for bts to enlist in the military so that kpop faces a downfall and people realise who actually runs the industry" and she gets proven right everyday!" another fan added.

"Kpop is nothing without BTS and this proves it," another fan commented.

Several online users noted that the sales statistics decreased despite other popular K-pop groups being active.

"But what happened to all those 'next BTS' groups kmedia kept talking about? The other k acts everyone said was the reason behind the hallyu wave? the big 3? those other groups kpop stans swore that the GP loved more than BTS?," another fan noted.

"Where are the next BTS? Go save the industry omfg it's dying lmfao all these talks about your faves being the most impactful ...all for them to be proven meh," one fan said.

"Kinda crazy how kpopies wanted BTS gone so that their favs can shine but now look without bts kpop is in shambles," another fan wrote.

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HYBE sees a sharp 76.6% decline in sales after BTS' enlistment

On May 2, HYBE published its first quarter revenue sales in 2024, stating a 72.6% loss in operating revenue, amounting to $5 million compared to the 2023 first quarter. They also faced a loss of 40% in quarter-to-quarter revenue loss and a 12.1% decline on a year-to-year basis. Fans noted that because of BTS' absence from December 2023, HYBE's decreased revenue has been clear.

HYBE's 2024 Q1 revenue was $261 million (360.9 billion won). They faced a 50.8% loss in concert revenue on a quarter-to-quarter from January to March 2024 compared to the previous year. Revenue for recorded music dropped by 47.4% in the first quarter of 2024 as well.

Meanwhile, in Q4 of 2023, HYBE recorded a profit of 31.7% in annual revenue, amounting to $1.583 billion (2.18 trillion won). The company saw a 75.8% profit in recorded music given that Jimin, j-hope, SUGA, V, and Jungkook released their solo albums and singles in 2023.

Concert revenue increased by 31.1% and SUGA's solo D-DAY world tour became the highest-grossing tour by an Asian soloist in the history of the United States. HYBE's concert profit also includes contributions from SEVENTEEN, ENHYPEN, and its other K-pop groups.

However, in 2023, Jungkook (Nov-Dec), V (Sept-Dec), and Jimin (Mar-Dec), sold over 6.7 million albums combined on the Circle Chart, according to HYBE's 2023 annual financial report. In Q4 2023, HYBE revenue closed at $441.6 million (608.6 billion won), an 18.5% decrease compared to its first quarter.

On July 5, 2024, Netizens Buzz reported a decline in K-pop album sales across Vietnam, Indonesia, Thailand, and China, among others.

• China: $50M (2022) — $35M (2023)
• Vietnam: $3M (2022) — Less than $2M (2023)
• Thailand: $4M (2022) — $3M (2023)
• Philippines: $2M (2022) — Less than $2M (2023)
• Netherlands: $4M (2022) — About $5M (2023)
• Indonesia: $4M (2022) — $3M (2023)
• France: Less than $4M (2022) — $4M (2023)

However, album sales increased in 2023 in countries such as the United States, United Kingdom, Germany, and Japan, among others.

• Hong Kong: $4M (2022) — $8M (2023)
• Taiwan: $9M (2022) — $13M (2023)
• Germany: $4M (2022) — $9M (2023)
• United Kingdom: $3M (2022) — $4M (2023)
• Australia: $1M (2022) — $2M (2023)
• United States: $40M (2022) — $60M (2023)
• Japan: $80M (2022) — $120M (2023)
• Canada: $2M (2022) — $4M (2023)

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In other news, the group's eldest member, Jin, returned from the military on June 12, 2024, and is currently working on his solo music. j-hope will return from the military in October 2024 while Namjoon, V, Jimin, Jungkook, and SUGA will return in June 2025 to resume band activities.