BTS’ meteoric rise continues. They are now recognized as a big player in the global music industry.
They ranked second on the Top 10 Global Recorded Artists of 2018. Their two albums “Love Yourself: Answer” and “Love Yourself: Tear,” ranked No. 2 and 3 on the Global Top Albums list. The annual list was reported by the International Federation of the Phonographic Industry (IFPI) published earlier this week,
In the report the IFPI stated, “In 2018, the global recorded music market grew by 9.7%.” It pinpointed Korea, which saw a 17.9% rise in revenue growth. Brazil is also included 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 all recording artists on the artist list. Which also included Ed Sheeran, Queen, Ariana Grande and Lady Gaga to name a few.
The British broadcaster BBC said, “The success of Drake, BTS and Ariana Grande have helped the music industry earn its biggest revenues in a decade”.
The Swedish streaming platform Spotify, stated 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”.
Pre-orders for BTS’ new album “Map of the Soul: Persona” have reached 2.68 million on Amazon. The album will be released next week.