Until a few years ago, Korean music streaming service Melon seemed to have no rivals in terms of market share, with its share nearing 50 percent in 2018, according to data tracker Nielsen Koreanclick. Yet, the rising influence of YouTube Music, a streaming service developed by global video sharing platform YouTube in 2018, is threatening its dominance.
According to big data platform Mobile Index, as of December, YouTube Music held the third-largest market share in Korea (19.22 percent), only after Melon (37.28 percent) and Genie (19.24 percent). The relatively new service, which began with a 1.7 percent share in 2019, edged out other homegrown platforms such as FLO (13.31 percent) and VIBE (4.08 percent).
It also saw a dramatic rise in the number of monthly active users (MAU). Its MAU was about 630,000 on Jan. 1, 2021, but the number spiked to 1.26 million on Dec. 1 ― a 97 percent increase in just a year.
The fact that the subscribers of YouTube Premium ― a paid membership service that enables people to watch YouTube clips without advertisements ― can get free access to YouTube Music is picked as a big contributing factor behind the platform's growing popularity.( Collapse )
source: The Korea Times