Within the Korean Pop Music Industry, artists and the producers the artists are hired under are paid via two Business strategies/markets.
B2C (Business to Consumer Market):
This includes production companies selling products directly to consumers (the people listening to K-pop). Artists' mini and full albums, concert tickets, fan meeting tickets and other merchandise (autographed or not) are sold to fans for profit.
B2B (Business to Business Market):
This includes production companies making deals with business companies or advertisers. The deals include advertisers endorsing K-pop artists and, in return, the K-pop artists endorse the advertisers' products via acting in commercials, modeling, or appearing on television shows.
Korean Pop has seen a shift to using the B2B strategy, as it provides more money to the Korean Payment circle. (Advertisers and business companies are willing to pay high amounts to endorse K-pop artists, as they are very popular and will draw attention to the company's products.)
Korean Pop has seen a shift to using the B2B strategy, as it provides more money to the Korean Payment circle. (Advertisers and business companies are willing to pay high amounts to endorse K-pop artists, as they are very popular and will draw attention to the company's products.)
This section refers to how B2B works in relation to K-pop music videos seen on YouTube. Within this "K-pop Payment Circle" I have been mentioning, there are three main groups that receive money from Korean Pop music videos.
Advertisers: pay for advertisement fees on the YouTube videos, production fees, and commercial fees. They also "buys" the K-pop music played on YouTube and artists that endorse their product.
Artists, Writers, Producers: Writers produce Korean Pop, artists learn dances and vocals to the song, production companies shoot the artists' music videos and add them to YouTube.
Google/YouTube: Provide "virtual time slots" that advertisements may use to advertise products in videos and a template for artists/producers to upload music to. In addition, they provide fans with free enjoyment of Korean Popular music.
Advertisers: Gains money every time a person watches the ad on a K-pop Music videos on YouTube. Their stocks increase as a result of their brand value increasing, and they also gain money by Korean artists endorsing their products, as many fans of the artists will buy those products. This group, along with Google/YouTube, gets paid the most within the K-pop Music Payment Circle.
Choreographers, Writers, Composers: They gain money from YouTube for their Music Video content, as it gets YouTube a lot of views. Also producers gain money from the artists endorsing advertisers' products. This group's payment is the second highest.
Google/YouTube: These businesses are paid through the number of clicks that the Korean pop music video gets and by selling the virtual space in videos to advertisers. Also, they may charge producers fees to keep Korean pop music videos on YouTube.
Artists: Korean Pop artists are obviously paid for the work they do,which involves singing, dancing, rapping, etc. in their music videos. However, the production company's contracts that artists are hired under restrict the salary of the artists. Therefore, the artists receive the lowest amount of money in this payment circle.
Thank you to NaturalBeauty for the layout!
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