SUMMARY
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Songs by Korean singers under Kakao Entertainment’s portfolio will reportedly return to Spotify, after the two music giants reached an agreement, the two companies announced in separate statements on Thursday, March 11.
On March 1, thousands of songs by K-pop artists were pulled out of Spotify after it reportedly failed to reach an agreement with Kakao Entertainment.
Spotify said the new deal means songs under Kakao Entertainment will return to the streaming platform and will be available in South Korea.
Spotify previously did not have rights to stream thousands of songs in South Korea, where Kakao Entertainment’s parent company Kakao also runs a streaming service, the market leader Melon.
Spotify only launched in South Korea in February 2021.
Kakao M is one of the biggest co-publisher companies in South Korea and distributes songs from several artists.
Citing a source, Variety said the uproar from fans and the artists themselves prompted Kakao to resume negotiations with Spotify “with terms not dramatically different from those originally offered.”
Neither Kakao nor Spotify reacted to that information but released separate statements following their successful negotiations.
“Spotify’s mission has always been to connect artists to their fans all over the world and to give listeners access to all of the world’s music. We are delighted that our Korean listeners will now also be able to enjoy this local music alongside our 70 million+ songs and 4 billion+ playlists. We remain committed to making a positive impact on Korea’s music streaming ecosystem through our partnerships with artists, labels, and local rights holders,” said Spotify.
Kakao Entertainment said: “Kakao Entertainment Corportation (previously Kakao M) has entered into an agreement with Spotify and will sequentially provide its music content to Spotify for service in and beyond Korea.”
“Through its diverse partnerships around the world including Spotify, Kakao Entertainment hopes that music lovers around the world can easily access its artists’ and music content to enjoy K-pop. Kakao Entertainment remains committed to the Korean music ecosystem and its growth and will continue protecting the rights of artists, labels and local rights holders going forward,” it added. – Rappler.com
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