It's official: the global real album market is back in business! After years of decline due to the rise of streaming, music lovers are once again looking to physically own their favorite tunes. And it looks like the MZ generation (that's those of us active in the 21st century) are leading the charge.
But it's not just any old albums that are flying off the shelves - it's K-pop that's driving the global music market. According to the Korea Creative Content Agency's 2022 Music Industry White Paper, real album sales reached a whopping $5 billion in 2021, a 16% increase year-over-year. This marks the first time in two decades that the global music market has seen growth.
It's not just the MZ generation that's fueling this trend. In the US, UK, and France - the world's first, third, and fifth-largest music markets - album sales have seen double digit growth. And in the US specifically, actual album sales increased by a staggering 42%.
So what's behind this K-pop craze? It could be the diverse and dynamic album sales strategies employed by artists. For example, BTS member RM's solo album "Indigo" entered the Billboard 200 chart solely through streaming, but re-entered at an impressive third place when the real album was released. And who could forget BLACKPINK's second full-length album "Born Pink," made of eco-friendly materials certified by the International Forest Management Council?
It's clear that the global real album market is back and better than ever, thanks in large part to the unstoppable force of K-pop. So break out your wallets and get ready to add some physical copies of your favorite tunes to your collection!