Source: South China Morning Post
With artists like BTS and Blackpink dominating international music charts, K-pop's seeming desire for worldwide dominance is still very much alive and thriving. But the competition is severe since newcomers are entering the field from all sides.
However, only a small number of the hundreds of new bands that emerge each year go on to become well-known. Even when they do succeed, the industry is unpredictable and has the potential to knock them off their throne at any time.
For now, let's get back to the basics and examine the vital financial data to name the richest K-pop group for the year 2022.
5. TVXQ - the US $30 Million
Source: @tvxq.official/Instagram
Before BTS existed, there was TVXQ, which made its debut in 2003 and has since taken the globe by storm. The K-pop band is still one of the wealthiest bands in the business, though. TVXQ reportedly has a net worth of $30 million, according to Sportskeeda.
U-Know Yunho and Max Changmin, the remaining members of the once-five-member band, won't let their fame be forgotten. As the first overseas artist to sell one million tickets for a single tour, TVXQ broke a record in Japan in 2018.
Despite making its debut nearly 20 years ago, TVXQ is still climbing the charts today.
The duo's new Japanese album, "Utsuroi," was published on August 17; as a result, they charted on the nation's Oricon single song and album charts for the first time.
4. Twice - the US $35 Million
Source: Handout
Twice, one of JYP's girl bosses and the self-proclaimed "Nation's Girl Group" (although Girls' Generation also competes for this title), is rumored to be worth an astounding US$35 million, according to K-pop Starz.
Because of their influence, the girls are the only K-pop group to appear on Forbes' 30 Under 30 Asia list. According to Billboard, the trailblazers created history in 2019 by becoming the first K-pop girl group to host a successful Japanese "dome tour."
After Stray Kids solidified JYP's standing in the K-pop entertainment industry, Twice's success helped the company rise to the top of South Korea's "big three" entertainment agencies in 2018.
3. Blackpink - the US $62 Million
Source: Getty Images
The girl group revolutionaries have been rightfully dubbed "YG Entertainment's major breadwinner" by fans, and given their whopping US$62 million net worth, it's simple to understand why.
Since its 2016 debut, Blackpink has consistently topped the charts. More recently, they have cemented their status as genuine global crossover stars by appearing on multiple Billboard charts and collaborating with well-known artists from around the world, including Lady Gaga, Cardi B, Dua Lipa, and Selena Gomez.
Additionally, the girls have garnered several lucrative endorsement deals, both individually and collectively, working with brands like Dior, Calvin Klein, Chanel, YSL, Celine, Bulgari, and Tiffany & Co.
When Blackpink's pre-release single How You Like That debuted at No. 5 on Spotify's daily Global Top 50 chart in 2020, it broke all previous records for girl groups, not just K-pop ones.
The title track, which has since climbed the rankings and peaked at No. 2, is now the highest-ranking K-pop single ever on Spotify.
With so many millions in their pockets, the girl group is claimed to have had a dorm at the Han River Bamseom Apartments, one of the most luxurious complexes in all of Seoul, according to Koreaboo.
2. BTS - US $120 Million to the US $150 Million
Source: @bts.bighitofficial/Instagram
BTS is believed to have a net worth of between US$120 and US$150 million, which includes revenue from album sales, concerts, brand sponsorships, and royalties.
According to Sportskeeda, the effects on South Korea's economy have been so profound that BTS is reported to provide an astounding US$3.9 billion to the nation's economy, more than many global corporations.
As per Celebrity Net Worth, the BTS boys generated a fantastic US$170 million in 2019 from their Love Yourself World Tour, surpassing the earnings of every other American band for that year with Metallica as an exception.
The idols also collaborate with brands including VT Cosmetics, Jamie Wander, LeSportsac, Mattel, Casetify, Tamagotchi, and Baskin-Robbins.
Following the release of their new album "Proof," the group also launched a game called BTS Island in 2022. The game is based on the boys' search for fun and relaxation after their uncanny arrival on an empty island.
While K-pop groups are accustomed to sharing dorm rooms, BTS' multimillion-dollar fortune has allowed the members to live in one of Hannam the Hill's most costly dormitories. According to Allkpop, this complex is known for housing several famous people, including Psy and the actress Han Hyo-Joo, as well as some wealthy business people.
As per Lifestyle Asia, the members also purchased their own private luxury apartments, which could have cost up to US$7 million.
BTS is renowned for its philanthropy and has previously donated US$1 million to Live Nation's Crew Nation fund to aid individuals working at live events who had financial hardships during Covid-19, as per Celebrity Net Worth. The guys also donated the Black Lives Matter organization another $1 million, according to CNBC.
1. EXO - US $1 Billion……?!
Source: South China Morning Post
The pride and joy of SM Entertainment, nicknamed "Nation's Pick," has dominated K-pop, thanks to its members' superb vocals, dazzling dance moves, and stunning aesthetics. But do they truly have a $1 billion market value?
Exo might be worth up to six times as much as BTS, and even more than the biggest Western celebrities like Kim K and Jay-Z, which is astonishing to think about. This amount is widely reported in Korean media outlets like KpopStarz, Kami, and Channel Korea, though it is impossible to confirm it. The latter, however, also claims that each member is said to have a personal net worth of between US$7 million and US$10 million. Do the maths?
However, other media outlets such as Sportskeeda and Otakukart estimate more conservative figures of between US$100 million and US$130 million. And while it's true that Exo hasn't experienced the same international success as BTS, their sustained survival in South Korea is unmatched. Exo's influence is so widely recognized that from 2014 to 2018, Forbes' Korea Power Celebrity ranked the group among the top five most influential celebrities.
A different analysis by Popnable of the band's monthly income over the previous seven years revealed an average income of US$2.5 million for the years 2016 to 2022.
Boys' success on the music charts led to a collaboration with Star Wars: Episode VII - The Force Awakens, which resulted in the song Lightsaber and a music video featuring the guys using real lightsabers.
The album "Don't Fight the Feeling," which was released in 2021, reportedly topped the iTunes Top Albums lists in at least 85 different nations, according to Soompi.
Anshika Bansal
0 Comments