▲ Spotify image. (Photo Credit=Spotify)
Spotify, the world’s largest music streaming company, is no longer able to listen to the music provided by Kakao M. This is because the global market contract has expired.
Spotify announced that it will no longer be able to provide music sources for Kakao M from March 1st due to the expiration of the existing license agreement with Kakao M. The contract for overseas sound source supply between Spotify and Kakao M expired on the 28th of last month.
Due to the expiration of the contract, all music sources distributed by Kakao M on Spotify have been discontinued. The K-pop music is not the IU, including Epik High, stern, Mamamoo, girlfriend, etc. be heard on Spotify. Currently, there is no place anywhere in the world where you can listen to Kakao M’s sound sources through Spotify.
A representative of Spotify said, “Spotify has been working in all directions for more than a year and a half so that Kakao M artists’ music can be continuously provided to more than 345 million users in 170 countries around the world.” “The existing license (covering all countries except Korea) has expired in the absence of agreement on the new global license.”
“Spotify will continue to cooperate with Korean rights holder organizations including Kakao M, and will do its best to contribute positively to the shared growth of the Korean music industry and streaming ecosystem.”
On the 2nd of last month, Spotify has been negotiating over the supply of sound sources as it decided to start its domestic service. However, even today, a month after its launch, there has been no progress in negotiations. In this regard, some analyzes that Spotify threw a strong hostage on Kakao M’s streaming revenue in overseas markets.
Kakao M said that it was a communication problem with the company’s position, which considered domestic and overseas contracts separately, and Spotify, which considered domestic and overseas contracts as one. At the same time, it is a position that the expiration of the overseas contract is embarrassing while the domestic contract is in progress. Since the overseas contract was originally signed, it was requested to renew it and continue the domestic consultation, but it was not accepted. In addition, discussions on sound source supply are ongoing, and if the negotiations are well completed, they will be able to listen to Kakao M’s sound sources on Spotify at home and abroad.
An official from Kakao M said, “Apart from the existing overseas sound source supply contract, we have discussed a domestic sound source supply contract with Spotify.” According to Spotify’s policy to proceed, the overseas contract is currently expired.”
He added, “The discussion on sound source supply is ongoing.”