Yonhap Spotify Technology News Today : Breaking News, Live Updates & Top Stories | Vimarsana

By Chae Yun-hwan
SEOUL, Feb. 14 (Yonhap) Spotify Technology SA, which opened its service in South Korea early this month, is expected to face fierce competition in the music streaming market currently dominated by local players.
While the Swedish company is one of the top audio streaming services in the world, with 345 million users across 93 markets, it is up against established homegrown services in South Korea the sixth-largest music market in the world such as tech giant Kakao Corp. s Melon, Genie Music under telecom operator KT Corp. and rival carrier SK Telecom s Flo.
As of October last year, Melon ranked as the country s top music streaming service with 8.81 million monthly active users, followed by Genie Music at 4.47 million and Flo at 2.86 million, according to mobile tracker IGAWorks. ....

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