On Tuesday, Spotify Technology SA made its long-awaited debut in South Korea marking its entry into the sixth largest music market in the world.
Spotify has a market presence in more than 90 countries and has entered into several new markets in the last two years including India, Middle East and Russia.
It will have to battle for market share in South Korea, against peers including Apple Music, Melon, Genie, and FLO.
“We wanted to be super thoughtful in how we approach coming into a market like this as we didn’t want to just take a global service and launch it into South Korea,” said Alex Norstrom, Chief Freemium Business Officer of Spotify.
He went on to add, “the offering is tailored to the market with right relationships with local partners, both on the content side as well as on the distribution side”.
Following its entry into South Korea, Korean listeners will be able to access more than 60 million tracks along with a wide range of Korean music, including Indie and K-pop, and Hip Hop.
K-pop is a multi-billion dollar global music industry with bands such as like BTS and BLACKPINK building huge fan bases outside South Korea.