Karaoke Origins

Karaoke and its popularity really hit is peak in the late 80s and 90s.
Karaoke (/ˌkæriˈoʊki/ or /ˌkærəˈoʊki/ Japanese: [kaɾaꜜoke
Basically translates in to the phrase “empty orchestra” and originated from Japan.

Its basis comes from a form of interactive entertainment, where a singer sings a song with a pre-recorded musical soundtrack using a microphone. The music is typically just instrumental, however on dependent on the music manufacturer today, often you will hear soft backing singers to help support your vocals, particularly helpful if you are not the greatest of singers. As the song plays lyrics are displayed on a display. At the begining this would have been on a TV screen, today the displays come in the form of TFT displays, phone displays, LED TV, or computer monitors, you can literally get karaoke everywhere. 
The lyrics typically involve a moving graphic or symbol, or the colour of the words change when it is your cue to sing, some systems even have full blown custom videos, but generally these guides are very helpful for the singer if they are un-familiar with the song.
Around the world karaoke is simply just referred to as karaoke, but in a few Asian countries (China, Cambodia or the Philippines where karaoke is very popular this type of activity is called karaoke box or KTV.  
Globally the karaoke market has been estimated to be worth $10 billion.