The company also notes that the license expiry has nothing to do with the fact that Spotify launched in South Korea just last month. And the launch puts it in direct competition with Kakao M’s own streaming service, Melon.
This is a massive hit for both fans of K-pop who use Spotify, and the company itself. Kakao M is a major distributor of music in South Korea. For reference, it distributed 37.5% of the top 400 songs in the country’s Gaon Music Chart. And this is just following the streaming service’s initial announcement of its upcoming HiFi subscription tier.