“Koreans give it at half price.” The No. 1 company that beat Apple and Google, why is it only sold cheaply in Korea?

“Global No. 1, the card that came out last in Korea?” Global No. 1 music streaming service ‘ Spotify

‘ , which beat Apple and Google, is anxious not to miss Korean users. Recently, Spotify raised subscription fees in major countries all over the world, but only Korea avoided the rate increase. It is interpreted as Spotify’s strategy to secure price competitiveness and escape from the lowest domestic market share. According to Spotify, the world’s largest music streaming company, on the 25th, on the 24th (local time), subscription fees were raised in major countries around the world. Countries subject to the increase included North American regions such as the United States and Canada, European regions such as the United Kingdom, Spain, and France, and Hong Kong. With this increase, the subscription fee has risen by about 10-15% in the US. The individual subscription product, 카지노사이트which is the lowest plan in the United States, has been raised by one dollar from $9.99 to $10.99. The two-person plan, which was previously priced at $12.99, is $14.99, the biggest increase. The student rate, which was released at an affordable price for student users, also rose slightly.

On the other hand, Korean users avoided the subscription fee increase and used it cheaper than overseas. Compared to the U.S., the difference between the lowest rates has nearly doubled. The lowest rate in the US, the individual plan, is $10.99. In Korean currency, it is about 14,000 won. On the other hand, Korea’s lowest rate plan, ‘Basic Rate Plan’, is 7,900 won. That’s almost twice as expensive as the subscription fee in the US.

The industry explains that it is a survival strategy for Spotify, which is not particularly strong in Korea. Spotify is the number one company in global market share, boasting a market share that even Apple and Google cannot surpass. According to data released by Media Research, a

North American IT market research company, Spotify’s global music service market share was 30.5% as of the second quarter of last year. During the same period, Apple Music’s share was 13.7%, Tencent Music’s 13.4%, Amazon Music’s 13.3%, and YouTube Music’s 8.9%.

It is at the bottom of the Korean market. According to the big data analysis platform Mobile Index, the number of monthly users of Spotify in June was 457,596, ranking ninth among domestic services. The number of monthly users of No. 1 Melon and No. 2 YouTube Music, which are major competitors, are 6.7 million and 5.7 million, respectively. It is difficult to even compare in terms of the number of users.

The industry’s view is that Spotify’s inferiority in the domestic market will continue for the time being. Even if the price increase was avoided, Spotify’s minimum rate plan, the Basic plan, is difficult to achieve overwhelming price competitiveness. This is because local streaming companies also maintain the minimum rate plan for unlimited streaming at 7,000 won.

In response, an official from Spotify explained, “We are working to increase our market share in Korea in the long term.”

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