TWICE is making history in the kpop world
No doubt, TWICE is now one of the most popular k-pop girl groups, and every k-pop fan would know the girl group is very popular at home and abroad. But do you really know how popular they are? Especially in Japan, which has the world's second largest music market? Well, they're not just popular in the country. They're making history.
On October 17, 2018, JYP Entertainment, home to TWICE, announced that the girl group will hold their dome tour in Japan. TWICE is the first ever k-pop girl group to hold a dome tour in the country, and the 9 beautiful members will also perform at the Tokyo Dome, the biggest indoor concert venue in the country.
Well, k-pop stars depend on album sales, TV appearance fees, concert profits and more for their incomes. Then, what do you think are the main sources of income of k-pop stars? In case of top-rated k-pop singers, those are concert profits and sales revenues of their goods. But Korean domestic music market is not big enough to make sufficient money out of concerts and sales of goods because Korea has only about 50 million people and a small percentage of them are crazed about k-pop stars. That's why k-pop stars and their agencies try to expend their business abroad. And All the big k-pop agencies generate a large portion of their sales in the Japanese music market. Japan has the second biggest music market in the world, and loyal Japanese fans are usually considered to have a tendency to collect items regarding their favorite stars such as albums, photos, magazines, etc.
Holding a dome tour in Japan and performing at the Tokyo Dome is like a dream for k-pop idols. But it's never easy to realize the dream, and for girl groups, it's much more difficult to achieve the dream because boy groups' fans are usually more loyal and enthusiastic than those of girl groups.
However, yeah, TWICE did it. The fact that the girl group will hold a dome tour and perform at the Tokyo Dome means the team is a top class idol group in Japan that is as popular as big name k-pop boy groups such as BIGBANG, SHINee, EXO and BTS. Girls' Generation and KARA were very popular in Japan, and it's true they're legends, but it seems TWICE, a third-year k-pop girl group, is now surpassing them. Girls' Generation and KARA were really popular, but they were not as popular as boy groups. In the k-pop history, there have been no k-pop girl groups who were as popular as TWICE in Japan. TWICE is creating a sensation in Japan and now dominating the Japanese market.
You know, JYP Entertainment has surpassed YG Entertainment and become No.2 k-pop agency with a market cap of about 515 million USD. YG's market cap is about 505 million USD. Change is happening all the time for stock prices, and the k-pop agencies' market cap will change again and again according to their stock prices, but what's notable is that it's first time for JYP to surpass YG in terms of market capitalization since 2011.
What do you think is the reason why JYP is continuing its sweeping upturn? Yeah, it's all thanks to TWICE. The girl group is making huge money, enjoying great popularity in Japan, and TWICE's popularity clearly shows no sign of waning.