Current Market Overview
Last updated
Last updated
Metaverse Expansion Prospect Data analysis and research are being disclosed by several global companies. According to Bloomberg forecasts, the market is expected to reach $800 billion (about KRW 1,100 trillion) in 2024. Global companies such as Microsoft, Apple, Samsung, and Facebook have already jumped ahead in the market, and Facebook has even changed the company name to the concept of “META” in Metaverse.
Major tech companies are investing in the new future of Metaverse. Microsoft (MS) is developing Mesh , META is Horizon, Apple is developing AR, and Samsung is developing Space Tycoon, and many global companies are introducing various platforms, AR and VR products.
COVID-19 has changed our daily lives. According to statistics from global company PwC, the global music streaming sector has shown the highest growth rate over the past decade. And now, students take online classes, office workers work in a virtual office space, and even various global festivals and small offline events are being reduced to online performances. In this pandemic situation, Ariana Grande, Blackpink, Travis Scott, etc. have already held concerts on the game platform, and Justin Bieber performed live performances on the metaverse.
In this situation, life and performances embrace the untact era and experience immersive content through VR/AR devices, and the entertainment and media markets are making many attempts to provide better content through the Internet. In June 2020, BTS opened up new possibilities for online performances by setting a new record of simultaneous access by 750,000 people worldwide during the live broadcast of the non-face-to-face concert “Bang Bang Con”.
According to the IFPI (International Federation of the Phonographic Industry) announcement, the number of Hallyu fans around the world has exceeded 150 million, and the K-Pop market achieved a 45% rapid growth in 2021 compared to 2020. In K-Pop, the fandom is also wide and thick, and the global-scale 'fandustry(a new word combining fan + industry)' is rapidly growing, forming a differentiated communication market with various goods.
Twitter mentions about K-pop reach 7.8 billion, and the main comment is “I would like to share ‘my own story’ with stars.” Thanks to the reaction of overseas fans, a fandom platform that directly connects fans and artists is being formed. In March 2021, K-IDOL “NCT DREAM” performed on a live commerce channel as a concert to commemorate the 9th anniversary of “Lazada”, an e-commerce platform that leads Southeast Asian trends, and NCT DREAM goods ranked in real-time search terms in Thailand and Malaysia. NCT DREAM's album and light stick were sold out in a short time at “Partir K Shop (Southeast Asia's representative online shopping platform)”. Below are the K-Pop fan activity rankings by country.
