K-pop act ENHYPEN performs during its "ENHYPEN WORLD TOUR ‘WALK THE LINE'" concert at Kyocera Dome in Osaka, Japan, Jan. 27. Courtesy of Belift Lab

Korea emerged as the world's fourth-largest music exporter last year — the highest among non-English-speaking countries — trailing only the U.S., Britain and Canada, according to an industry analysis.

A report released by U.S.-based music and entertainment analytics firm Luminate on Sunday showed that Korea ranked No. 4 in its 2024 Luminate Export Power Score, which measures a country's influence in global music exports.

According to the company, the ranking measures a country's music export strength based on factors such as artists' rankings in each country by total on-demand streams, the number of countries importing its music, the streaming volume in those markets and the number of artists reaching international audiences.

"A country would score highly if they had a significant volume of artists reaching international markets, had artists with strong performance in those countries and had artists reaching countries with a higher share of the global music industry," Luminate said in the report.

Germany and France were next in line, ranking fifth and sixth, respectively. Puerto Rico, Australia, Sweden and Brazil rounded up the top 10.

This graph shows the top five countries in global music export power for 2024, analyzed by music analytics company Luminate. Courtesy of Luminate

The report also found that Japan was the largest importer of Korean music, followed by Taiwan and Indonesia.

Several Korean artists were among Japan's 50 most-streamed acts on Spotify in 2024. BTS ranked highest at 14th, followed by TWICE at 17th and NewJeans at 18th. Stray Kids placed 21st, with LE SSERAFIM at 25th and SEVENTEEN at 27th. Jung Kook, aespa, Jimin, TXT and IVE also secured spots on the list, highlighting K-pop's strong presence in the Japanese music market.

In Taiwan, four of the top 10 streamed artists were from Korea, while three Korean acts made Indonesia's top 50.

Luminate credited K-pop's strong presence in Japan to its popularity among younger audiences, noting that 18 percent of Gen Zers (born between 1997 and 2010) and millennials (born between 1981 and 1996) music listeners in the country identify as K-pop fans — 5 percentage points higher than the national average.

According to the company, Japanese K-pop listeners stream music for an average of 37.3 hours per week, exceeding the national average by 6.5 hours.

"Forty-three percent of Japanese K-pop music listeners are planning on attending a live concert in the next 12 months," the report said. "This shows that Japanese K-pop fans are avid music listeners with a strong dedication to the genre."

However, Luminate noted that K-pop's success has not fully extended to the U.S. While physical album sales have propelled acts like Stray Kids and ENHYPEN to global prominence, no Korean artists appeared on the top 100 most-streamed songs in the U.S. in 2024.