As the university festival season heats up, the competition to book popular idol groups is becoming increasingly fierce.
According to Money Today on the 30th, the festival budgets of major universities this year are estimated to be around ₩100 million KRW (about $66,300 USD) to ₩400 million KRW (about $265,000 USD) per school. It is reported that the portion of the festival budget spent on booking entertainers ranges from as little as 40% to as much as 80%.
A student council official from a university in Seoul told Money Today, “Since the lineup is mainly composed of famous entertainers, about 80% of the total festival budget is spent on booking fees.”
In fact, one university in Seoul allocated ₩170 million KRW (about $113,000 USD) out of its ₩400 million KRW (about $265,000 USD) festival budget for securing entertainers this year, and another university reportedly used about 40% of its total ₩300 million KRW (about $199,000 USD) budget for booking performers.
In addition to the entertainers’ appearance fees, there is also the burden of agency commission fees. Industry insiders explain that agency fees are generally set at about 10% of the booking fee.
The prices in the entertainer booking market are steadily rising. According to Star Korea, an agency specializing in entertainer bookings, the booking fee for top-tier K-pop groups this year ranges from about ₩65.0 million KRW (about $43,100 USD) to a maximum of ₩120 million KRW (about $79,600 USD). Mid-level K-pop groups command fees between ₩35.0 million KRW (about $23,200 USD) and ₩55.0 million KRW (about $36,500 USD), while rookie groups debuting within 1 to 3 years charge between ₩12.0 million KRW (about $7,960 USD) and ₩25.0 million KRW (about $16,600 USD).
In particular, an industry official cited top-tier idol groups as an example, saying, “For popular idols like aespa, the basic booking fee often exceeds ₩100 million KRW (about $66,300 USD),” sparking surprise.
As university festivals grow beyond simple campus events to large-scale concerts, the competition among universities to secure popular idols is expected to become even more intense.