The K-pop industry's Big Four are facing declining stock prices

South Koreans appear to be losing interest in K-pop

K-pop fandoms don’t seem to be losing steam in the US, but apparently, South Korean fans are less interested in their domestic music industry. A number of factors could be contributing to this dwindling passion, such as scandals with idols, BTS’ hiatus, and less dependency on media after COVID-19. Currently, there’s no panic that the industry is dying, but there is increasing concern that the future will not be quite as bright as the past.

The hypercompetitive world of becoming a K-pop star

K-pop, a global $8B industry, rose from its 1990s regional roots to worldwide fame thanks to hits like “Gangnam Style.” Trainees endure years of intense training in performance and media skills, with only 4% to 5% debuting.

The South Korean government invests in K-pop, a strategy intended to expand the country's soft power around the world.

An introduction to becoming a K-pop superfan

K-pop is not a genre but rather an ever-evolving industry. This resource breaks down the different eras of K-pop. Learn how the first generation, with bands like H.O.T., evolved into today’s fourth generation, where idols can train and debut outside South Korea. Find new groups to listen to, and appreciate the diversity of the different groups’ sounds.

K-pop idols have reduced rights due to their contracts

In 2024, the South Korean government ruled that celebrities are not entitled to the same rights as workers. This decision was made in response to the band NewJeans, whose members raised concerns about workplace harassment. The South Korean labor ministry instead found that the content of their contracts indicates that they do not hold the same legal status as other workers in the country. The dispute highlights the ongoing debate about the entertainment industry's treatment of idols.

Blackpink are the most followed female group on Spotify

The widespread popularity of the four-piece girl group Blackpink has built a large community of fans—called Blink—and proven the success of unconventional marketing strategies. Instead of producing a wealth of content and new material, Blackpink releases albums slowly, building tension for their fans. During their musical breaks, the women continue to build on their icon status, working with luxury brands like Chanel or even guest-starring in major American TV shows like “The Idol.”

BTS makes big profits, and spends just as big

While the band has been on hiatus since 2022, there are remarkable insights into the band’s success, like a $44M profit from a six-show tour. Their profits allow them massive spending, with investments like a shared mansion in addition to owning their own multimillion-dollar apartments.

How K-pop conquered the world

How did Korean musical acts go from unpopular and at times maligned to filling arenas and creating one of the most viral music videos of all time? This 25-minute audio documentary from BBC World Service explains how social networks, plastic surgery, and government tax breaks helped turn K-pop into the multibillion-dollar global juggernaut we know today.

Seo Taiji and the Boys are considered the first 'true' K-pop idols

This article explains how the success of a rebellious '90s boy band inclined an industry to capitalize on that success and meticulously craft new generations of stars. While BTS exhibits major talent and charm, their rise may partially result from a formula for mass appeal that music executives cultivated.

Just because a big name company is going public doesn’t guarantee a successful stock

A reporter dove into how highly anticipated IPOs can still be risky, and why retail investors should be wary of investing right away.

K-pop is one of South Korea's biggest exports

Writer Vivian Yoon could never have imagined that the music she secretly loved as a kid growing up in Los Angeles’ Koreatown would become the phenomenon it is today. In this 14-part podcast, Yoon takes the deepest dive into the history of K-pop, a surprising journey that passes through the 1992 LA riots and a hip-hop club in Seoul once frequented by Black American GIs.

K-pop is defined by catchy music, synchronized dances, and devoted fans

Thanks to its eye-catching aesthetics and catchy music, South Korean pop has sparked a global industry. Both their sound and visuals are meant to be fun and addictive to consume.

K-pop increased the visibility of Asians in American media

Yale sociologist Grace Kao speaks about the massive cultural impacts the world has received from K-pop’s success. The academic talks about the genres K-pop borrows from, the visibility that groups like BTS gave to the Asian community in the media. The resource also features an intro playlist curated by Kao for those interested in getting into the music.

In late 2025, the top 10 companies in the S&P 500 made up more than 40% of the index's total value

This raised concerns for investors about the index's risk exposure. As many large tech companies continued posting record highs, analysts argued that the top-heavy index was becoming less representative of the economy as a whole.

The number of publicly traded companies has decreased in recent years.

In 1996, more than 7,300 companies traded publicly on US stock markets, but that number has recently dropped to 4,300. Economists point to two reasons: First, going public requires full disclosure of operations, exposing it to scrutiny from investors, competitors, and analysts. Second, the IPO process is expensive and time-consuming.

Superfans of K-pop group BTS gamed the Billboard chart

In 2021, the boy band scored a number one hit with “Butter,” its second English-language track. As Stereogum writer Tom Breihan points out, though, it rose to the top of the charts without actually being the most popular song in the country. Other songs were considerably more popular on streaming platforms, but BTS’ hyperdevoted fanbase realized that purchasing digital downloads weighed more heavily in Billboard’s methodology. Recognizing an opportunity, BTS dropped the price of a download to 69 cents, securing their place on the top of the charts.

Spotify took 18 years to reach profitability—and 70% of its revenue goes to rights holders.

Training to be a K-pop idol is a high-pressure experience

The life of an idol is known to be arduous, but what does life look like before one even reaches fame? In this video, a reporter investigates the K-pop dance schools of South Korea and unveils a darker side of the industry. In hopes of "making it," students undergo relentless training routines and auditions to achieve their idea of perfection. While the pupils insist on their autonomy and belief in the system, there are clear pressures to conform and meet industry expectations.

Hallyu, or 'Korean wave' is the phenomenal expansion of Korean culture around the world

Described as a sort of “soft power,” South Korea managed to dominate the world with tools like “Squid Game,” “Parasite,” or BTS instead of military force. Skincare, music, movies, television, and food are just some industries that have boomed and grown in popularity in recent years.

Pop culture sometimes changes the way people invest

After the "Barbie" movie premiered, the number of investors in Barbie parent company Mattel's stock grew more than six times larger on the investment platform Public, according to the platform's recent report. Other cultural trends have affected which stocks investors choose as well.

The world's 50 most valuable private companies

While public companies typically have the highest valuations, private companies get close. This list breaks down the top 50 as of 2025, with SpaceX at the top with a value of $350B, followed by ByteDance. Over three-fifths of the list are located in the US, with eight in China.

2023's worst performing US IPOs

While an IPO is a huge milestone, it isn't always a total success in the long-term. This data visualization shows some of the worst-performing IPOs of 2023, based on their percentage returns at the end of the year, It includes an NFT gaming company and a Chinese EV battery company.

The number of publicly traded companies has decreased significantly

The stock market hit a peak in 1996, when more than 7,000 companies were publicly traded. But in 2024, there were nearly half that many publicly traded companies.

How Korea’s beauty industry is impacting its healthcare system

Hallyu, or the spread of Korean culture, has made South Korea a global leader in the beauty industry. People worldwide travel to the country, seeking aesthetic procedures like microneedling and noninvasive lifting. The $4B industry attracts many doctors seeking high profits. However, the result is a healthcare system facing a critical shortage of general practitioners and hospital physicians.

Listen to a 2026 interview where Bumble's CEO said its stock is down 96% since its IPO 'for no reason'

CEO and Founder Whitney Wolfe Herd said the company is still performing very well. She added that the business makes $1B per year and referred to it as profitable. She went on to say "who knows what people trade stock on?" and that she believes the stock market has written Bumble off as if it were debt

K-pop band BTS released their fifth album, 'Arirang,' after a four-year hiatus

The album reflects the identity and roots of one of the world's most popular boy bands. Alongside a new single and free concert, the release kicked off BTS's 82‑date world tour through 2027. The free concert at Seoul's Gwanghwamun Square drew tens of thousands of attendees and was livestreamed on Netflix.

The 'Big Three' asset managers—Vanguard, State Street, and BlackRock—collectively manage more than $30T in assets and are the largest shareholders in roughly 88% of all the companies listed on the S&P 500.

IPOs that failed

Plenty of private companies fail once they try to go public. Failing can mean shares sell for less than their initial asking price on its IPO date, or it can look like a company pulling out of the IPO process at the last minute. Some companies with failed IPOs include Pets.com, Etsy, and Robinhood. Learn more about these companies and others here.

The 'Big Three' and 'Big Four' consulting firms have grown more similar in recent years

The “Big Three” consulting firms—McKinsey & Company, Boston Consulting Group, and Bain & Company—and the “Big Four”—Deloitte, PricewaterhouseCoopers (PwC), KPMG, and EY—actually have a lot in common these days. But it wasn’t always that way.

Some institutional investors are growing wary of private equity, as certain investments underperform traditional market indices

Private equity often attracts investors who can afford to tie up capital for long periods of time in exchange for higher returns than traditional investments. For many years, private equity at least tracked with the S&P 500 in terms of returns to investors, but in 2024 and 2025, it underperformed and posted declining returns.

See the 25 largest initial public offerings in US history.

These 25 companies—which include UPS, Uber Technologies, AT&T, and The Kraft Heinz Co.—had some of the biggest IPO drops in US history. However, not all these drops led to long-term (or even immediate) success.

FTX, one of the world's largest crypto exchanges, collapsed in 2022

As crypto markets declined during the post-pandemic slowdown, Sam Bankman-Fried propped up the markets with billions he'd earned leading FTX, one of the largest crypto exchanges. Then, in one of the most rapid financial implosions in modern history, the exchange collapsed as investors rushed to withdraw money.

Experts don't believe upbeat tunes, called 'recession pop,' are legitimate recession indicators

Social media users have begun deeming pop music by the likes of Kesha and Katy Perry a "recession indicator" as they try to predict the next economic downturn.

A stock index is a group of companies clustered together, often providing a condensed snapshot of a market segment.

Many retail investors exited the stock market after 2008, leading to a drop in individual market participation

That changed thanks to GameStop, federal stimulus checks, and strong corporate results in the first quarter of 2021. This chart plots how much retail investors poured into the market each day, reaching records in early 2023.

The consequences of dating as a K-pop idol

Seunghan, a star from the boy band RIIZE, experienced intense backlash for leaked photos of him kissing a woman when he was a trainee. Many fans were outraged by the images and found his behavior to be against their expectations of a wholesome K-pop idol. This article provides details about this case and gives other examples of idols who experienced a fallout with fans for having personal relationships.

The 'Big Four' consulting firms specialize in accounting

The "Big Four" refers to Deloitte, PwC (also known as PricewaterhouseCoopers), KPMG, and EY. They more recently built out their business consulting practices in addition to accounting services.

Disney's IP problem, according to industry experts

Disney seems to be an unstoppable force in the entertainment industry, but after an unprecedented high point in 2019, the company began losing money. In this podcast, two industry veterans discuss what they see as Disney's existential problems: an overreliance on preexisting material and an inability to innovate as it once did.

Despite many influencers having loyal followings, creator-led brands often fail when the hype from first-time buyers dies down and doesn't translate into repeat purchases.

US IPO issuance—the total dollar amount of new stock sold to the public via IPOs—hit a record high in 2026.

Many of the 2010s girlboss-era founders experienced a public fall from grace in 2020

In the 2010s, dozens of female founders were celebrated on the covers of business magazines like Inc. for their recent startup success, from Emily Weiss’s Glossier makeup brand to Steph Korey’s Away luggage company. But many of these companies were also the subject of large takedown articles around the year 2020.

Digital coupon platform Groupon IPO'd in 2011 at a $17.8B market cap, but as of 2024 was worth just $103M—a 99.4% decrease.

Why some say the S&P 500 has effectively become an AI fund

The S&P 500 is a market-cap-weighted index, which means companies with larger market capitalizations have a larger impact on the index's overall performance. Many of the top companies in the index are currently tech companies—including Nvidia, Microsoft, Alphabet, and Apple—that all have large investments in artificial intelligence. As a result, some analysts are concerned that the index is overly exposed to risky AI investments.

Companies sometimes change which stock exchange they're listed on.

Wealthy, 'chaebol' families rule South Korea's economy

A handful of huge family-run conglomerates, or chaebol, are the engines of South Korea’s economy, with Samsung alone representing 20% of the country’s GDP. This gives the chaebol (literally “wealth group”) outsized power, often leading to corruption, labor violations, and anticompetitive practices. One economist interviewed in this Vice documentary says the chaebol have replaced Korean democracy with corporatocracy.

See a real-time list of the most shorted stocks in the US

Every two weeks, the Nasdaq and New York Stock Exchange release the stocks with the most short positions. Some of the companies with the highest short positions as of early 2026 were Hims & Hers and Groupon.

The fitness industry has seen a lot of fads—and Peloton might be one of them

Like SoulCycle and Tae Bo, Peloton has struggled to stay at the forefront of the fitness industry. Despite periods of incredibly high interest and high-profile users (like the Obamas), Peloton has lost many users since the pandemic ended—and has struggled to add more. (Some users may experience a paywall.)

Private companies are often harder to value than public companies

That's partly because there isn't readily available stock information, and financial accounting is kept behind closed doors. Typically, determining the value of a private company involves, among other things, closely comparing the private company with its competitors.

Private equity firms can be 'powerful partners' or 'formidable competitors'

Under the best circumstances, PE firms can increase a company's value using strategies that might not be suitable for public companies facing pressure for immediate shareholder returns. But PE firms are often portrayed negatively due to the aggressive strategies they sometimes use to cut inefficiencies. As PE has grown, many firms have changed their strategies, shifting away from aggressive scaling to more integrated acquisitions.

The original 'four horsemen' of tech were Intel, Dell, Microsoft, and Cisco

These companies became known as the "four horsemen of tech" for the influence the companies had both on other businesses and investors in the late 1990s and early 2000s. The expansion of internet infrastructure throughout the 1990s and the dot-com bubble lifted these companies to incredible heights.