Spotify has seen a huge growth in the number of users streaming through their platform from South Korea. The music platform was only introduced to the region in 2021.
Spotify was introduced in South Korea in 2021 and since then has continued to grow in popularity. Now, it’s on its way to becoming one of the most popular streaming platforms. Recently, the music giants have seen a huge surge in the amount of users.
While Spotify continues to grow its user base, their competition seems to have briefly stalled, Perhaps users are making a switch to a more worldwide platform. This data has come from a research firm, WiseApp.
In the last year, Spotify’s monthly active users has grown by 168% and now sits at 4.24 million people. It’s therefore overtaken Genie Music and Flo, both of which are more localised services. YouTube Music sits with 10.1 million users, so is still much ahead.
Likewise, Melon currently has 6.2 million users, so they are above Spotify significantly, but, they have seen their listeners drop by 5% which is staggering. Could this again be because they are targeted towards a part of the world, rather than globally?
Last year, Spotify introduced its free tier to South Korea, which is very likely a large reason as to why their rivals are switching to their service. After all, not everyone can pay for luxuries like streaming stores, so have a free option is great.
Spotify placed a lot of efforts into marketing within South Korea. They spent a lot of money creating Speakeasy Live concerts and pop-ups for K-Pop acts Enhyphen, Stray Kids and Aespa. All of this has clearly added to their appeal.
