NewJeans, Hybe and Coachella shows to lead turnaround in Kpop [Video]

Nonetheless, Goldman Sachs said it sees a “high potential for valuation re-rating,” as companies still continue to deliver multi-year earnings growth. For 2023, all four companies posted higher full-year revenue and net profits.

A superior valuation metric

Japan to power short-term growth

The global fanbase

Goldman is also bullish on K-pop’s global fanbase growth, especially in markets like the U.S.