[Pexers Write-Ups] Hyun Joong and Entertainment Industry Economics
HJ and the Entertainment Industry are two entities, yet inseparable until one does not want to be involved anymore with the other.
HJ used to say he has only 3 something minutes per number after which he Is done with it. He is finished with his job until the next one. From an individual performer’s point of view he is right. Yet that performance is part of the larger economic picture used to be dwarfed by the Giants agriculture,manufacturing, mining and other heavy industries. But not anymore. Entertainment has come to occupy its own space and importance.
Entertainment, as noted by Harold Vogel who studied this industry in 2001, delivers pleasurable and satisfying experiences. It is not free for like durable goods and services has costs. As we know performers come to us well trained and polished to the images set for them, they have to be promoted through the use of technology and communications. Though entertainment deal with talents and skills,it is capital intensive that needed return of investment sooner or later. The difference between entertainment when they became available to the public as they are now is that the latter is media dependent.
Countries’ GNP are now including the income derived from entertainment particularly the exported variety in the likes of Hallyu in the case of Sk. Whether we are conscious of this developments or not entertainment has been sucked into the vortex of world economy. Consumers of the “pleasurable experiences” of watching dramas and movies, being fans of kpop idols have to pay the price (attending concerts, buying albums, merchandises,following their stories,joining associations and others).
Once in a while we hear of collaboration and joint ventures of countries like Japan, China,South Korea,HongKong,USA to produce content. Likewise services in the areas of legal assistance, insurance, health and cosmetic care, schools and academies catering to training performers ,travelling,photography, real estate,tourism with shopping are available and proliferate more than before.
Entertainment is big business and the market has become global. Just as it expands to all corners of the world, followers of stars expect more from them as well particularly as merchandise can be had through E- commerce and cities become interconnected through the Internet.As what had happened, scandals and nasty rumours have spread virally and notorious cyber bullying are a current thing.
Transnational communities or fan base base spread among different countries for example Henecia have been formed in support of the star and his activities. When HJ’s career suffers a setback it is not just a personal loss, but also of those supporting him as well as his managing company and country. On the other hand, his recognitions and awards will bring gains to many.
Entertainment can be full of pitfalls as many have lost their lives,fame and fortune in search of success. But it remains the wellspring of opportunities which HJ know only too well.