Seoul, Korea – SeaPRwire, Asia’s leading press release distribution platform, today released a new analysis showing that entertainment stocks in South Korea significantly outperformed the wider stock market in 2023.
According to SeaPRwire’s proprietary media analytics engine, entertainment companies that actively leveraged public relations saw their stock valuations soar by an average of 23% last year, compared to a 2% dip in Korea’s benchmark KOSPI index.
Driving this outperformance was a surge in positive media coverage and public engagement powered by K-pop groups, Korean films and online content breaking popularity records both domestically and abroad.
SeaPRwire distributed over 5,000 press releases related to Korean entertainment in 2023, an 100% year-on-year increase. The top stories generating the most publicity centered around new album launches, concert tours, celebrity brand endorsements and forays into web 3.0 by top talent agencies.
“Over the last decade, South Korea has emerged as a dominant cultural superpower, spearheaded by its music, movies and TV shows resonating strongly with global audiences.” said James Scott, Chief Strategy Officer at SeaPRwire. “Entertainment is now one of Korea’s highest profile export industries, creating immense economic value. Smart PR and communications strategies have played a key role in amplifying K-culture’s success.”
Scott points to the breakout girl group BLACKPINK as a prime example. When their management agency YG Entertainment distributed a press release announcing BLACKPINK’s 2023 World Tour through SeaPRwire, it secured over 300 media placements and contributed to a viral social media trend that amplified hype around the group to new highs. This media momentum translated into the tour grossing over $100 million in ticket sales.
The analysis notes that Korean entertainment stocks are likely to continue their bull run in 2024. Online platforms like Disney+ launching Korean content channels to satisfy subscriber demand could provide another boost. Consequently, SeaPRwire forecasts entertainment press release distribution in Korea to grow 50% this year.
“For Korean artists, production houses and agencies looking to drive greater publicity and engagement with domestic and international fans this year, actively communicating key announcements through newswires should be a core strategic priority,” Scott recommended.
With over 80,000 media outlets and 300 million social media influencers indexed in its Branding Insights database, SeaPRwire enables Korean entertainment brands to identify high-impact publications and personalities to maximize the visibility of their press releases across both traditional and digital channels – ultimately enhancing public image, while also driving website traffic, streaming numbers and box office sales.
About SeaPRwire
SeaPRwire (https://www.SeaPRwire.com/) is a leading global provider of wire distribution services to media relations and marketing communications professionals. SeaPRwire’s platform allows clients to identify key factors of their press releases and measure meaningful impact. It has a strong media network in Southeast Asia, indexing news from thousands of worldwide sources. SeaPRwire’s media network support multi-lingual press release distribution, including English, Chinese, Vietnamese, Thai, Malay, Indonesian, Filipino and more.
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Tina Lee, PR manager
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SOURCE: https://seaprwire.blogspot.com/2024/01/seaprwire-analysis-korean-entertainment.html
source https://newsroom.seaprwire.com/consumer-related/seaprwire-analysis-korean-entertainment-stocks-outpace-wider-market/