[talk] The amount is really shocking

26.2 billion won. This is the amount of money that singer Lim Young-woong earned through his activities last year.

Lim Young-woong is the sole artist of his agency, Fish Music, and the largest shareholder, owning a 50% stake. According to the audit report, Fish Music recorded 28.9 billion won in sales last year. Since Lim Young-woong is a one-man agency, this profit is essentially his own.

Excluding rental fees and other income, the company generated 26.2 billion won in revenue from pure activities, including music, albums, performances, advertising, and media content. The previous year, 2023, saw even larger revenues, reaching 31.4 billion won.

Just as the economic ripple effect of Taylor Swift led to the term "Taylornomics," the "Lim Young-woong Effect" is gaining attention in Korea, with its impact on all aspects of music, performances, and broadcasting. Industry insiders even say, "No matter what you do, as long as you have Lim Young-woong, you're guaranteed success."

This isn't a joke. With Lim Young-woong's comeback, his influence has been revealed in numerous figures. Lim Young-woong didn't release a physical album (CD album) for his second full-length album. Regarding this, he stated, "It was a decision to prevent people from buying albums out of a competitive spirit. I wanted people to simply listen to the music." While his name was omitted from album sales figures, it instantly ignited a surge in digital music sales.

Their second full-length album, "I'm Hero 2," released late last month, achieved 6,723,600 streams in the first 24 hours on Melon. This is the 7th highest record of all time, following idol albums by Playbe, Seventeen, EXO, NCT Dream, and Tomorrow x Together. It took only 3 hours and 10 minutes to reach 1 million streams. BTS and Lim Young-woong are the only two artists listed on Melon's "Billions Diamond Club," which recognizes albums with over 10 billion cumulative streams.

The scale of his popularity is even more palpable offline. On April 8, 2023, Lim Young-woong, who drew a crowd of 45,007 for his opening ceremony and halftime performance at Seoul World Cup Stadium, setting a new K-League attendance record for the season, did it again. On the 21st, he set a new Daejeon club attendance record by drawing 21,045 fans to Daejeon World Cup Stadium.

The most anticipated event is the concert. Lim Young-woong will embark on a nationwide tour, starting with a concert in Songdo, Incheon, from October 17th to 19th. The tour will continue on a large scale, with stops in Daegu from November 7th to 9th, Seoul from November 21st to 23rd and November 28th to 30th, Gwangju from December 19th to 21st, Daejeon from January 2nd to 4th, Seoul from January 16th to 18th, and Busan from February 6th to 8th.

The concerts in Incheon, Daegu, Seoul, and Gwangju, which opened sequentially to coincide with the performance dates, have all sold out at lightning speed.

According to statistics from the Performing Arts Integrated Computer Network, Lim Young-woong's two-day concert at Seoul World Cup Stadium last year ranked second in ticket sales in the popular music category, following Coldplay's Korea concert (at Goyang Stadium, six shows, 320,000 attendees). The concert drew 93,964 attendees over the two days. His recital at Gocheok Sky Dome followed in third place, drawing 52,851 attendees over three days. If you include the three concerts held in January this year, the total attendance for all six shows exceeds 100,000.

Last year, revenue from music, albums, and performances reached 22.4 billion won. This year, the group is expected to generate significant profits, with a slew of new songs released as regular albums and large-scale concerts. While the album wasn't released in CD format, a photobook was released in its place, stimulating fans' desire to own it.

Media content revenue, which plummeted from 5 billion won in 2023 to 470 million won last year, is also expected to increase. Im Young-woong has been actively engaging with the public since his comeback. YouTube views are exploding, and a large-scale concert held at approximately 50 CGV theaters nationwide was a success, attracting 50,000 fans. He is also appearing on various entertainment programs and music shows.

A music industry insider said, "Lim Young-woong's success story is particularly significant in that it has expanded the target audience for active enjoyment of popular culture by attracting middle-aged and older fans. It is no longer awkward for seniors to gather together and engage in fan activities." He added, "Considering that for years, popular music has been solidified around idol fans, this is an even more remarkable change. It is also unusual for it to have a long run rather than just a fleeting popularity."

Kim Su-young, Hankyung.com reporter swimmingk@hankyung.com

The amount is really shocking