Core Insights - The underground idol (地偶) market in Japan is experiencing a significant growth phase, with domestic capital showing interest in entering the market [1] - The domestic underground idol market has seen a substantial increase, with the number of groups more than doubling since its inception in 2023 [1][2] - The male underground idol segment is rapidly expanding, with a notable rise in participation from various demographics, including students and professionals [2][8] Market Overview - The current market size for underground idols in China is approximately 2 billion, with a balanced distribution between male and female idols [1] - The number of female underground idol groups exploded in 2023, with 101 new groups formed, followed by 188 in 2024, and an additional 113 by August of the current year [2] - Male underground idols are a newer phenomenon, with the first group emerging in 2023, and the total number of male groups reaching 60 [2] Competitive Landscape - The competition in the female underground idol sector is intensifying, with many groups struggling to monetize their efforts due to a fixed fan base [4][5] - The male underground idol market is characterized by a more diverse audience and less rigid stylistic constraints, allowing for a broader range of group concepts [9] - The male idol segment is experiencing a "卷" (intense competition) phase, with many new agencies and groups emerging to capture market share [9][10] Revenue Generation - Both male and female underground idols rely heavily on "特典券" (special tickets) for revenue, which allow fans to interact with idols, as ticket sales typically go to event organizers [10] - The emotional connection with fans is crucial for revenue, with idols needing to provide personalized interactions to maintain and grow their fan base [11][12] - The concept of "恋营" (romantic engagement) is prevalent in male idol groups, allowing them to generate income without necessarily relying on performance skills [13] Industry Trends - The underground idol market is becoming increasingly accessible, with low entry costs allowing many aspiring idols to form groups [15] - There is a growing trend of established entertainment companies entering the underground idol space, viewing it as a potential transitional phase for future mainstream opportunities [17] - The lack of original content in the underground idol scene is a significant challenge, with many groups relying on covers of Japanese songs rather than creating original material [18]