Average monthly streams of South Korean artists have grown more than 70% since Spotify launched its subscription product in the country in 2021
Spotify made its free tier available to listeners in South Korea on Wednesday . When the streaming service launched in the country in 2021, it only made its subscription option available for music fans.
“We’re opening the door to every Korean listener to start discovering and connecting with millions of songs and podcasts with our technology and service,”, general manager, Asia Pacific, for Spotify, said in a statement. That “means huge potential for new audiences, discoverability and ultimately, more revenue for artists.” , trailing the U.S., Japan, the U.K., Germany, China, and France. “Countries such as China and South Korea have significant growth of fans paying for streaming,”the IFPI.
Spotify added 7 million subscribers in the second quarter of 2024, exceeding its forecasts. It now has more than 626 million total monthly active users, and 246 million subscribers.
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