Spotify And Kakao Entertainment Reach Awaited Licensing Agreement
Spotify and Kakao Entertainment finally reach licensing agreements, returning music under Kakao Entertainment to the platform globally.
Kakao Entertainment Corp. and Spotify have reached agreements with one another after initial struggles with licensing negotiations. The news comes as a great relief to Spotify users, who showed dismay when their favorite K-Pop tracks, distributed by Kakao Entertainment, suddenly disappeared off of the platform. The new agreement returns this content to the platform, but also makes it available on Spotify within South Korea for the first time.
In response to the new agreements, the company stated, “We are pleased that Kakao Entertainment’s content and artists are back on Spotify, allowing our 345M+ global listeners across 170 countries to once again enjoy the music they love. 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.”
Moreover, Spotify showed excitement for its new agreement with Kakao Entertainment, allowing users in South Korea to access its content for the first time. Spotify expressed their own delight as, “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.”
Kakao Entertainment Corp.
Meanwhile, Kakao Entertainment added that it 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”.
The company asserted that it “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.”
PR Source: Hill + Knowlton Strategies
Image Source: Kakao Entertainment Corp. | Spotify