Bangtan Boys, also known as BTS, are increasingly recognized as a big player in the global music industry.
BTS came in second on the list of top 10 global recording artists of 2018, while their two albums “Love Yourself: Answer” and “Love Yourself: Tear” ranked No. 2 and 3 on the global top albums list, according to an annual industry report by the International Federation of the Phonographic Industry (IFPI) published earlier this week.
In its report, the IFPI said, “In 2018, the global recorded music market grew by 9.7%.” It pinpointed Korea, which saw a 17.9-percent increase in revenue growth, along with Brazil as “the fastest growing markets.”
It stated, “Korea is a market in the process of shifting from ‘potential’ to ‘power player,’ driven by the phenomenon of K-pop and artists like BTS and Black Pink.”
Drake led the recording artists list, which also included Ed Sheeran, Queen, Ariana Grande and Lady Gaga.
British broadcaster the BBC said, “The success of Drake, BTS and Ariana Grande have helped the music industry earn its biggest revenues in a decade.”
According to Swedish streaming platform Spotify, songs by K-pop artists were streamed more than 100 million times in countries like Canada, France, Peru and Turkey last year.
Although the company’s service is yet to be launched in Korea, it said, “From day one, K-pop has been one of the key focus genres for our editors in Singapore. These playlists were originally created for the Southeast Asian market, but, as playlists have no borders, their popularity has since traveled around the world and there is now a more global focus on the genre.”
Meanwhile, pre-orders for BTS’ new album “Map of the Soul: Persona,” which is set to be released next week, have reached 2.68 million on Amazon.com.