Eumjeohyeop "Collected 116.8 Billion KRW in Music Copyright Fees in H1... 22.3 Billion KRW Increase YoY"

Online Video Services Strengthen... 58.8 Billion KRW Collected in Transmission Sector
Copyright Fees for Performances Decrease by 2.8 Billion KRW Due to COVID-19 Impact

Korea Music Copyright Association

[Asia Economy Reporter Kim Heung-soon] The Korea Music Copyright Association, a music copyright trust management organization, announced on the 10th that it collected approximately 116.8 billion KRW in music copyright fees during the first half of this year. This amount is 22.3 billion KRW higher than the same period last year.

According to the association, about 58.8 billion KRW, which is half of the total collected amount, was collected from transmission sectors such as music streaming and YouTube. The association stated, "The rapid growth of the online video service market, including YouTube and Over-The-Top (OTT) services, is driving the increase in collections," and predicted, "The market will continue to grow even larger."

In the reproduction sector, approximately 21.3 billion KRW, accounting for 58% of the annual budget, was collected due to the active release of new albums by K-pop idol groups. Additionally, it was explained that the overseas usage fee sector also exceeded its budget for the first half of the year.

On the other hand, the performance usage fee sector, which was affected by the COVID-19 pandemic during the first half of the year, totaled 18.7 billion KRW, a decrease of 2.8 billion KRW compared to the same period last year.

The association explained, "Since February, 99% of live performances such as concerts were canceled, leading to a significant decrease in stage performance usage fees. Businesses such as singing rooms and entertainment bars also entered large-scale closures, which is analyzed as the cause of the decrease." Nevertheless, it evaluated, "Although a huge impact was expected due to COVID-19, the collection amount in the first half of this year increased by about 22.3 billion KRW compared to the first half of last year, showing steady growth."