K-Pop Exports At All-Time High

KOREAN MUSIC TRADES

Exports of K-pop albums increased by 17% year on year to reach an all-time record of $133 million in the first six months of the year. The U.S. is now the second biggest overseas market for Korean music worth $25 million, having overtaken China, but still trailing Japan ($48 million), according to data from the Korea Customs Service.

The next largest were Germany, Taiwan, Hong Kong, the Netherlands, Canada, the U.K. and France.
The record was achieved despite the absence of BTS as a group (though BTS members Jimin, and Suga put out solo efforts) and saw Stray Kids, Tomorrow X Together, Seventeen, Ateez and Twice all make an international impact.

MUSICAL EXIT

Yip Cheuk Tung (aka Tony Yip) has tendered his resignation as the chief strategy officer of Tencent Music Entertainment Group, the company announced. The move is made for personal reasons and will become effective Aug. 31. Yip joined the company in 2018, in time for two share listings in New York and Hong Kong and a strategic stake purchase in Spotify.

TURKISH DELIGHT

Hit Turkish rom-com “Bitter Sweet” has been licensed to distributors covering 70 countries. Starring Can Yaman and Ozge Gurel the show tracks a new chef who finds work with a businessman and sets herself on a path to fulfilling her dream of opening a restaurant – and finding love.

“Bitter Sweet” is produced by No 9 Productions, has 81 commercial hours available and has been aired with strong rating on Star TV. International rights are handled by Global Agency.