K-pop stocks have been struggling, with JYP Entertainment losing the most value. Goldman Sachs says this is because investors are focusing too much on album sales, which have been declining. Instead, Goldman suggests evaluating these companies based on concert attendance, especially in Japan, where they expect significant growth. Despite the challenges, Goldman remains bullish on the industry due to multi-year earnings growth and the increasing popularity of K-pop globally, particularly in the U.S. and Japan.
