25 September 2023
A test of Vietnamese fans’ purchasing power?
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Continuously welcoming international stars
After only 9 months since CL (2NE1)’s cool New Year opening on the Countdown show in Ho Chi Minh City, the number of international artists coming to Vietnam to perform has increased dramatically. Vietnamese fans have the opportunity to live online. Meeting idols, from famous 2nd generation Kpop artists such as Taeyang, Super Junior, BoA, Hyo (SNSD) to the new generation group aespa and even global names like Charlie Puth – BLACKPINK.
Charlie Puth during the show in Nha Trang
2 explosive Born Pink nights of global music group BLACKPINK in Hanoi
Not stopping yet, this is the time to explode with great music festivals. During the months of October and November, music festivals are continuously held, with frequent attendance by international stars. Taking a look at some of the main events, music fans can’t help but be excited about the schedule of Alan Walker coming to Vietnam to perform on October 7, Bambam’s fanmeeting event on October 21, Lee Jong Suk fanmeeting on October 22 or a series of events. Famous idols like Chanyeol (EXO), Yugyeom – Youngjae (GOT7), BI, iKON, Super Junior LSS (Lee Teuk, Siwon, Shindong) are expected to land at the music festival on October 21-22,… Ban Westlife music also chose Vietnam as one of the performance venues within the framework of The Wild Dreams tour, the show held on November 22. It all takes place in Ho Chi Minh City.
In addition to major music festivals with the participation of Kpop stars, Ho Chi Minh City in November also welcomes the band Westlife with The Wild Dreams Tour.
At the Hanoi Bridge, from October 14 to 22, the Monsoon Music Festival will take place with the participation of the synth-pop group Sunset Rollercoaster from Taipei (Taiwan). In particular, the return of the second season of HAY Glamping Festival will welcome two big names: Ronan Keating and Epik High.
OR Glamping Festival returns for a second season and will welcome two big names: Ronan Keating
In the first season, HAY Fest attracted attention by bringing together 4 famous international music groups A1, 911, The Moffatts and BLUE. This comeback, the Boyzone band member promises to bring back youth with hits that are part of the memories of 8X and 9X generation audiences. Besides, “Korean Hip-hop Legend” Epik High promises to recreate part of the top stage from the Asia tour. All Time High makes Kpop fans extremely excited.
A good sign that challenges the purchasing power of Vietnamese fans
In the above events, some are held with free entry, some open for ticket sale with prices ranging from 500,000 VND to several million VND. With such high frequency, many questions arise about whether international stars continuously coming to Vietnam will help the development of the domestic entertainment industry. Many music experts believe that this is a two-way story, sending a positive signal but also posing many potential challenges.
Looking from a strong entertainment industry like Korea, every year, Kpop produces dozens of rookie groups. Among them, there are groups that quickly develop and form strong fandoms with multi-dimensional support from digital products to “spending money” on albums and attending concerts. In Vietnam, the Kpop fan community is very In the past two years, many fans have spent huge amounts of money abroad to see their idols. Familiar performance venues in Southeast Asia are Thailand, Singapore, Malaysia,… But Vietnam rarely has them. opportunity to welcome top idols. There are many reasons why Vietnam has not become the optimal choice for entertainment companies to choose as a destination, in which the purchasing power of the audience is an important factor. important.
In the past two years, many fans have spent huge amounts of money abroad to visit idols. The average cost to attend idol concerts in neighboring countries such as Thailand and Singapore ranges from 18 – 20 million.
But, the situation is different. The Vietnamese entertainment market is on the rise, the purchasing power of Vietnamese fans has been proven after a series of important shows. Gradually, Vietnam becomes a favorite destination for international stars. Typically, Super Junior held concerts twice this year in Ho Chi Minh City. This is a good sign, especially after the global girl group BLACKPINK successfully organized 2 nights of Born Pink in Hanoi, attracting 67 thousand attendees even though ticket prices were not low, ranging from 3.8 to 9. 8 million VND depending on class.
The sea of pink filled My Dinh Stadium during the Born Pink Hanoi show
According to many Kpop fans, the average cost to attend an idol concert in neighboring countries such as Thailand and Singapore ranges from 18 – 20 million. In addition to the 5 – 10 million ticket and having to compete with a large fandom, accommodation and transportation costs also cost a lot. However, many people do not mind spending large amounts of money to have a true music experience and especially to meet their idols. “The most important reason I’m interested in concerts is because there are idols and meeting friends in the fandom. I’m willing to spend 10 – 15 million for an idol’s concert”, one fan asserted.
Some people are even willing to pay in exchange for a music night of breathing the same air as their idols: “Going to concerts is not just to listen to music, but also to meet people who inspire and motivate every day. I don’t know when will be the last time they will stand on stage and how many chances I will have to meet them, so I am willing to spend the amount of money within my financial ability to be able to meet the idol as close as possible. ”.
Therefore, when more and more spectacular shows appear, gathering outstanding line-ups right in Vietnam, music fans have no reason to refuse the opportunity to meet their idols. Domestic advantages also help solve some problems of moving and staying, saving a large amount of money. Recognizing the trend, many show producers are increasingly trying to perfect the organization, creating habits and market needs to balance production costs and the main source of revenue from ticket sales.
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