South Korea Music Royalties Management Solution Market was valued at USD 0.30 Billion in 2022 and is projected to reach USD 0.65 Billion by 2030, growing at a CAGR of 10.5% from 2024 to 2030.
The South Korean Music Royalties Management Solution Market is undergoing a significant transformation, driven by the rapid digitization of the music industry and the increasing demand for transparent and efficient royalty distribution systems. As of 2023, the Korea Music Copyright Association (KOMCA) reported the collection of approximately ₩407 billion (US$295 million) in licensing fees, underscoring the substantial financial scale of this sector.In South Korea, the collective rights management system is robust, with several organizations authorized to manage and distribute royalties. Notably, there are 12 major collecting societies, including KOMCA, the Korean Society of Composers, Authors and Publishers, and the Federation of Korean Music Performers. These entities play a pivotal role in negotiating license agreements, collecting fees, and ensuring rightful distribution to copyright owners.Despite these structures, challenges persist. The current system often faces issues related to the accurate tracking of music usage, especially with the proliferation of online streaming platforms. Traditional methods of log collection have limitations, leading to potential discrepancies in royalty settlements. Furthermore, the absence of standardized protocols akin to international standards like DDEX complicates the seamless exchange of data among stakeholders.Industries are now seeking advanced solutions that leverage artificial intelligence (AI) and machine learning to enhance the accuracy and efficiency of royalty management. By implementing AI-driven systems, it's possible to analyze vast amounts of music consumption data in real-time, ensuring that royalties are distributed fairly and transparently. Such technologies can also detect and prevent fraudulent activities, such as the manipulation of streaming counts.Moreover, there's a growing emphasis on integrating blockchain technology to create immutable and transparent records of music usage. This approach not only enhances trust among stakeholders but also streamlines the royalty distribution process by reducing intermediaries.In my experience, collaborating with tech startups focusing on music tech solutions has revealed the immense potential of these innovations. For instance, platforms that utilize AI to monitor and report music usage across various channels have demonstrated a significant reduction in disputes over royalty distributions. Additionally, artists have expressed increased confidence in systems that provide real-time insights into their earnings.As the South Korean music industry continues to evolve, the adoption of sophisticated royalties management solutions becomes imperative. Industries must prioritize systems that not only comply with local regulations but also align with global standards, ensuring that creators are rightfully compensated in this digital age.
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KOMCA
JASRAC
MCSC
Vistex
Downtown Music
NexTone
Fairphonic
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Music Royalties Management Solution Market
Songwriters
Artists
Record Labels
Music Publishers
Performance Royalties
Mechanical Royalties
Synchronization Royalties
Digital Royalties
Subscription-based Model
Pay-per-use Model
Ad-supported Model
Cloud-based Deployment
On-premises Deployment
Music Rights Administrators
Record Labels
Content Creators
Streaming Platforms
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Music Royalties Management Solution Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Music Royalties Management Solution Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Music Royalties Management Solution Market, By Type
6. South Korea Music Royalties Management Solution Market, By Application
7. South Korea Music Royalties Management Solution Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Music Royalties Management Solution Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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