Korea Leads Asia in Music Streaming Market
The Korea Music Copyright Association (KOMCA) has released a report showing Korea’s digital music streaming market grew from $700 million in 2019 to $1.32 billion in 2023, overtaking Japan to become Asia’s largest.
Creators Receive Smaller Share
Despite market growth, Korean music creators receive only 10.5% of streaming revenue, lower than the US (12.3%), UK (16%), and Germany (15%). Platform operators in Korea claim a 35% share, the highest among major markets, reducing the portion for artists even further.
Policy and Calls for Change
Recent government policies have benefited streaming platforms, with changes like the 2022 ‘Music Copyright Royalty Win-Win Plan’ actually reducing creators’ effective earnings. While countries like the US have increased copyright rates, Korean creators face an ongoing struggle for fair compensation.
A KOMCA representative emphasized, “Protecting creators’ rights is key to a sustainable music ecosystem,” and called for practical reforms to improve revenue distribution.
