Spotify (SPOT.N) has officially introduced its free music and podcast service in South Korea, aiming to expand its user base in the competitive streaming market. Announced on Thursday, the new option allows users to access a limited ad-supported version of Spotify’s extensive library, alongside the existing premium subscription that offers unlimited, ad-free listening.
The streaming giant emphasized that this initiative will enhance its ability to connect global audiences with Korean music, including the immensely popular K-pop genre. South Korean users can now register for a free account to enjoy curated playlists, podcasts, and personalized daily mixes, with the option to upgrade to the premium service for an uninterrupted experience.
“Brands that advertise on Spotify’s free tier can effectively reach their audience, as our ads capture twice as much attention compared to social media platforms globally,” the company stated.
Since its entry into the South Korean market in 2021, Spotify has reported impressive engagement, with local artists accumulating over 5.8 billion average monthly streams on the platform.
Related topics:
Rio Tinto Targets Arcadium’s Lithium Extraction Tech in $6.7 Billion Deal
Marriott to Enhance Security Following FTC Settlement Over Data Breaches
Space Startups Surge in Funding as Investor Interest Shifts to Capital-Intensive Ventures