[Reporter Jeong-eun Sung on Daily Economy Star Today]
Spotify, the world’s largest audio source streaming platform, will land in the Korean market in the first half of next year.
On the 18th, Spotify announced that it will launch a Korean service in the first half of 2021. Founded in 2008, Spotify is the world’s largest music streaming service with over 60 million tracks and over 4 billion playlists, and has more than 320 million users in 92 countries.
Spotify said, “Korea is the 6th largest music market in the world, and is one of the fastest growing markets. So, ‘Millions of artists around the world have the opportunity to engage in creative activities, and billions of fans enjoy it. Korea is considered a very important region for realizing Spotify’s vision of providing an opportunity for inspiration.”
Alex Noström, Freemium Business Officer, Spotify Premium Business, said, “We are very pleased to be able to introduce Spotify soon to Korea, the center of music, culture, and technological innovation. As a partner in the Korean music industry, Korea As we have done our best to spread our artists and their music around the world, including Asia, the United States, South America, Europe, and the Middle East, the upcoming launch in Korea will bring more diverse and new Korean artists to both domestic fans and around the world. I will be committed to connecting with them.”
Meanwhile, since Spotify first introduced the K-pop hub playlist in 2014, the percentage of K-pop users on the Spotify platform has increased by more than 2,000%. To date, K-Pop has been streamed over 180 billion minutes from Spotify users around the world, and has been added to over 120 million playlists. Today, K-pop hub playlists are localized in 64 countries around the world, including Russia, India, Brazil, and the Middle East.
Spotify has built a hub of various genres such as Korean hip-hop, indie, OST, and R&B, as well as K-pop, introducing a wide range of Korean artists and music to fans around the world. In particular, as part of Spotify’s unique global new artist discovery project, the ‘RADAR Korea’ playlist that introduces Korean new artists and their music to the world is also being presented to Spotify users around the world.
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