From the available signals in 2023, it can be predicted that 2024 will be a year in which women dominate the charts, in addition, the influence of the Korean music wave will continue to decline despite the rise of the 4th generation of idols like NewJeans or IVE.

Concert films compete with movies

The format of films taking available material from concerts of music stars is not new, but the huge expansion of the film Taylor Swift’s The Eras Tour at the box office in 2023 has forced many investors to consider the benefits. profits that this type of film brings.

If it is said that The Eras Tour can break the $250 million revenue mark simply because of the No. 1 reputation and passionate fandom of ‘Snake Lord’, then Renaissance: A Film By Beyonce with the top achievement at the North American box office for the week The first premiere has proven the potential of this film genre. Earning $21 million in just one week amid a gloomy movie theater scene and low investment costs, Renaissance: A Film By Beyonce is an attractive invitation to investors looking for a viable product. new words at the theaters.

As for the audience, concert films gradually becoming popular will also be a ‘profitable’ trend for them. Not everyone has enough time, money and effort to wait day and night to own a concert ticket (and it’s unlikely to be possible!), fly from city to city and stand in line. hour to experience the theatrical atmosphere. Concert films can not only meet the needs of diverse audience groups, but also help them preserve the most memorable moments of their idols while standing on stage.

Women dominate the music industry

Let’s not mention Taylor Swift, in 2024, a series of girls who once stirred up the music industry are preparing to return such as Lana Del Rey, Beyoncé, Lady Gaga, Ariana Grande or the younger generation, there are Olivia Rodrigo, Dua Lipa .

 

Even though Grammy 2023 has just ended, people have predicted that Grammy 2024 will be a tense battle between Kacey Musgraves and Lana Del Rey in the Country category, or Taylor Swift will hug again. ‘ at least a golden trumpet with new album The Tortured Poets Department.

Just as Lana Del Rey announced her ‘change of style’ to Country, the bright star of country music – Kacey Musgraves also announced her comeback.

Taylor Swift’s new album – The Tortured Poets Department – has not yet been released and is expected to be a strong contender at the 2024 Grammys.

Women’s domination of the music market is completely possible, especially after the past 2023 – girls have taken turns dominating the charts and continuously breaking records.

It’s no exaggeration to say that the artists are the ‘main chefs’ who create the sumptuous and colorful music feast of 2023.

Gen 4 of K-pop is growing but its influence is weakening

When NewJeans, IVE, aespa or Le Sserafim take turns taking top positions on the charts, and BTS takes turns joining the army, BLACKPINK gradually becomes independent and has its own ‘job’ rather than focusing on group activities , K-pop fans – whether they like it or not – have to admit that the time has come for Gen 3 to step back and cede the playing field for Gen 4 to take their turn.

2024 is predicted to continue to be a year of strong development for the 4th generation of K-pop idols as the battle for the top group position has not yet ended. Also this year, big companies such as SM, YG, JYP or HYBE will continue to launch new music groups, promising to make the Korean music race even hotter.

However, along with the development of K-pop, the influence of Korean music on the global market is expected to continue to decline. This contradiction is not difficult to explain.

Although Gen 4 music groups are increasingly rising, their influence on the global music market is still too weak, mainly strongest in Southeast Asia in particular and Asia in general. For example, ITZY has had a good tour but still can’t compare to BLACKPINK or TWICE. Even though aespa has a strong fandom in China, their latest album numbers have dropped sharply, supposedly due to the influence of the restriction order. Han’ in a country of billions of people.

Well, slowly but surely, it took a long time for senior groups to be noticed internationally, or specifically by the world’s largest music market – America – and these trending groups also need more attention. time to build its own position on the music map beyond Korea’s borders.

The appearance of new faces thanks to TikTok

In early 2024, Universal Music Group shocked the music lover community with the news of withdrawing all artists’ songs that the group managed distribution rights from TikTok – one of the largest social networks today.

There have been many songs that have become phenomena after spreading on TikTok, including prominent names such as Stay (Justin Bieber and The Kid LAROI, Cruel Summer (Taylor Swift), Cupid (FIFTY FIFTY)… Finally By 2022, a statistic shows that 12/13 songs topping music charts in the US have become more popular thanks to the influence of TikTok. By 2023, creating ‘challenges’ on social networks has become more popular. become an indispensable method in new product promotion strategies.

Previously, if they wanted a song to become a hit, singers needed to have a strong label behind them and spend money on platforms. With the withdrawal of Universal Music Group and the expected addition of many other music labels, fans have envisioned a future with many new faces becoming phenomena thanks to their music being spread on TikTok.

A typical example is rookie GAYLE whose hit song abcdefu became a phenomenon thanks to TikTok, even receiving a Grammy nomination.