K-POP Physical Album Sales Drop 19%, First Decline in 9 Years

The K-POP industry experienced its first decline in album sales in 9 years. Over 50 weeks from January 1 to December 14, 2024, the total sales volume of the top 400 albums was 92.67 million copies, a 19.5% decrease compared to 116 million copies in the same period of the previous year. This represents the first reversal in growth since 2014, when sales had been rising steadily and exceeded 100 million copies by 2023. The number of million-selling albums also dropped sharply. In 2024, only 20 albums reached 1 million copies sold, 13 fewer than the 34 albums in the previous year. The decline was particularly evident among the top-performing albums. In 2023, SEVENTEEN’s “FML” and Stray Kids’ “★★★★★” each sold over 5 million copies, meaning two albums exceeded 5 million units. However, the best-selling album in 2024 barely surpassed 3 million copies. SEVENTEEN’s sales also declined significantly during the same period. Their 10th mini-album “FML,” released in 2023, sold 5.54 million copies, whereas their 12th mini-album “Spill the Fills” in 2024 only sold 3.18 million copies. Signs of an industry crisis were also observed in export figures. According to data from the Customs Service, album exports in the first half of 2024 (January–June) amounted to $129.39 million, a 2.7% decrease from the same period the previous year—another first-time reversal in growth in 9 years. However, exports in the second half of the year (July–November) reached $141.15 million, a 2.9% increase from the prior year, showing partial recovery. Industry experts attribute the sharp sales drop to negative news within the industry. A report released by the Korea Creative Content Agency on December 18 analyzed that “the HYBE-ADOR dispute and public fatigue caused by controversies involving K-POP idols influenced the decline in album sales.” Music critic Kim Yoon-han is skeptical about a direct causal relationship between industry conflicts and sales drops but stated, “Negative media coverage is definitely a factor contributing to the decline and could have a decisive impact on long-term K-POP demand.” KMCA Secretary-General Choi Kwang-ho said, “Given that the album industry was overheated last year, we expected some fluctuations in sales, but a 20% plunge represents a very serious crisis for the entire industry.” Nevertheless, there is high optimism about industry recovery in 2025. SUGA, RM, Jimin, V, and Jung Kook of BTS are set to complete their military service by June, with new songs planned for the second half of the year. BLACKPINK and G-Dragon are also preparing to release new music in 2025. Fourth-generation rookie groups such as aespa, ILLIT, IVE, RIIZE, and ZEROBASEONE are also scheduled to return with new albums, suggesting potential for market recovery in 2025.