Business

Spotify Eyes Launching In South Korea In 2021

Dec 18, 2020 | by Rosen Seth

The music streaming giant Spotify has set forth its plans in venturing its services in South Korea, the home of K-pop.

Spotify reveals new venture

According to Soompi, the global music streaming platform is now being laid out to be launched in South Korea. The announcement comes in delightedly on December 18 (Friday) by the firm's Chief Freemium Business Officer Alex Norström.

In his announcement, he said, "We are excited that Spotify will soon launch in Korea, an epicenter of music, culture, and innovation." Moreover, Alex said that for the year that has passed, Spotify partnered with the Korean music industry to spread the K-culture worldwide, from Asia to different parts of the world.

"As our Korean launch approaches, we're looking forward to introducing even more diverse and new Korean artists not only to domestic audiences but to the whole world." - Alex Norström

Spotify is a safe space for Korean artists

Bandwagon Asia stated that Spotify's launch in the country would allow music listeners to access more than 60 million tracks and more than 40 billion playlists. The streams are counted as another addition to the artists' market, as reaching the local and overseas audiences is their aim.

For the time being, the streaming platform hails several distinct playlists and tracks from Korean musicians. It contains over 180 billion minutes of Korean music and more than 120 million playlists, with genres from K-pop to K-drama OSTs.

Spotify disclosed that South Korea is tagged as one of the top six music markets globally, with a growing pace that is unlike any other.

With Spotify's presence in South Korea, more opportunities will open for artists to earn a living and reach a wider audience.

However, the South Korean launch date of Spotify is still under the wraps. But it was already reported previously that the platform sets its plans to launch its services in the country this year.