Korea has secured its place as the world’s fourth-largest music exporter in 2024, ranking highest among non-English-speaking countries, according to an analysis by U.S.-based music and entertainment analytics firm Luminate.
The 2024 Luminate Export Power Score, released on Sunday, placed Korea behind only the U.S., Britain, and Canada in global music exports.
The ranking evaluates a country’s music export strength based on factors like artists’ rankings in countries by total on-demand streams, the number of countries importing its music, and how many artists reach international audiences.
Germany and France ranked fifth and sixth, respectively, followed by Puerto Rico, Australia, Sweden, and Brazil in the top 10.
Luminate also found that Japan is the largest importer of Korean music, with Taiwan and Indonesia following closely behind. In Japan, several Korean artists ranked among the top 50 most-streamed acts on Spotify in 2024. BTS, TWICE, and NewJeans were among the highest, with BTS coming in at 14th.
The report credited K-pop’s strong presence in Japan to its popularity among younger audiences, with 18% of Gen Z and millennials in Japan identifying as K-pop fans. Japanese K-pop listeners are streaming music for an average of 37.3 hours per week, significantly higher than the national average.
Despite its success in Asia, Luminate noted that K-pop has not yet fully penetrated the U.S. market. While physical album sales have helped acts like Stray Kids and ENHYPEN rise to global prominence, no Korean artists appeared on the top 100 most-streamed songs in the U.S. in 2024.
