Korea Ranks 9th in Global Music Copyright Collections, Proving K-pop’s Influence

According to data released by the Korea Music Copyright Association (KOMCA) on the 5th, Korea ranked 9th in the global music copyright collection sector in 2023, recording 416.5 billion won. This is a result from the 2024 Global Collections Report released by the International Confederation of Societies of Authors and Composers (CISAC), showing that Korea grew by 9.6% compared to the previous year. The amount collected by KOMCA was approximately 406.5 billion won.

The background of Korea’s growth in music copyright fees has been significantly influenced by the resurgence of the K-pop industry. In particular, the demand for limited edition albums and concert albums centered around idol fandoms surged, with reproduction fees related to album sales increasing by about 46% compared to 2022, reaching 119.9 billion won. This figure is larger than the combined revenue from broadcasting, live performances, and OSTs, once again proving K-pop’s global influence.

The digital music market is also steadily expanding. The expansion of streaming services, subscription fee increases, and improved contract conditions have contributed to a 9% increase in transmission fees in 2023, totaling 172.1 billion won. Performance fees also recorded about 50.7 billion won, an increase of approximately 22% compared to the previous year.

However, Korea’s music copyright system still falls short of international standards. According to the report, the proportion of copyright fees relative to Korea’s GDP was 0.017%, ranking 33rd in the world. This is a lower figure compared to Italy (0.033%), Australia (0.027%), and Spain (0.023%).

KOMCA Chairman Choo KaYeol emphasized, “Although our music is recognized worldwide, there is a need to realize copyright fees.” He added that improving the creative environment is essential for the continuous growth of K-pop. This analysis suggests the direction of the Korean music industry in the future and will be an important task for ongoing development.

This article has been written by Kpopmap AI writer and while we have made efforts to ensure the accuracy of the article, there may be errors or inaccuracies.