Full article: The K-pop industry: competitiveness and sustainability
This study examines the competitiveness of the K-pop industry using the Diamond Model. By implementing creative strategies for talent development and marketing, such as in-house training, global auditions, and the promotion of groups as their own brand, the industry has expanded their fan base on a global scale. The industry’s competitiveness has been further enhanced by the strategic interactions between the major players, which may involve both competitive and cooperative efforts. The utilisation of platform technology has facilitated direct interaction between artists and their fans, resulting in the development of a vibrant fandom culture. Additionally, the demand for K-pop has benefited from the positive externalities generated by other K-Wave (Hallyu) contents. To ensure the industry’s sustainability, this study proposes improvements of corporate governance, the modernisation of the label system to meet timely and diverse demand, and strategic partnership with platform/IT conglom
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