Spotify, the music streaming company, which launched in Sweden a decade ago, is preparing to take on Apple music. Until recently, Apple Music was the dominant music streaming service in Asia. The region is quite lucrative, and Spotify has finally decided to take on Apple Music in the two most lucrative markets. These are Japan and Indonesia.
After the company posted job advertisements for a music editor in Indonesia and financial controller in Japan, all indications are that the company will soon be launching in these two huge markets. One of its greatest challenges will be penetrating into the Japanese market. Up to now, music-streaming services have not been able to penetrate the Japanese market. This is in part due to the complex regulatory environment for music copyright. In addition, Japanese culture is more inclined towards music CDs.
However, having launched in Asia in 2013. The company has definitely had a lot of experience it will rely on to try and overcome all hurdles it may face in the Japanese market. Analysts believe that Spotify will first launch in Indonesia. It will then use this huge Asian market as a launch pad to enter the Japanese market. With a population of about two fifty million people it as a smartphone penetration of over fifty-five percent, it is one of the most lucrative markets in the world for music streaming.
With over seventy-five million users worldwide and twenty million subscribers, the company has been surprisingly slow in launching into the Asian market. The service is available in over sixty countries, but only six of these are in the Asian market. However, the real game changer for the service may be when it launches into India and mainland China. These are undoubtedly Asia’s biggest markets. Currently, the service is only available in Hong Kong, Philippines, Taiwan, Singapore and Malaysia.