Technology-Enabled Entertainment: Lessons from the Korean Wave

October 8, 2024

JAKARTA – The Korean Wave, or Hallyu, is one of the most remarkable success stories in soft power and nation branding. With global icons like BTS and Blackpink leading the charge, this cultural phenomenon originated in a newly industrialized, economically struggling South Korea over 30 years ago.

While traditional concert revenues are significant, a 2023 report by Allied Market Research revealed that the K-pop events business generated approximately $8.1 billion in 2021, with projections estimating it could reach $20 billion within the next decade. As the market expands, artists and creators benefit, with around 75% of an artist’s revenue today derived from concerts, making it a vital income stream as traditional revenue from record sales diminishes due to the rise of digital streaming.

However, the success of Hallyu was not an overnight phenomenon; it has been a carefully crafted journey over three decades. A crucial lesson from this cultural powerhouse is the role of technology as a key driver behind its success. The 1990s marked a digital revolution in South Korea, where online platforms became widely accessible. This shift from analog to digital opened new avenues for sharing music globally and laid the foundation for dynamic fan engagement, transforming consumption from a one-way street to an interactive experience.

K-pop has effectively leveraged various platforms, social media, and live streaming to engage with fans like never before. Apps such as V Live and Weverse have allowed South Korean artists to connect with their audience in real-time, fostering a sense of community and strengthening the bond between artists and fans. Similarly, in Indonesia, platforms like TipTip are emerging, providing