K-Pop Business Consolidates to Act as One
K-Pop, or Korean bubble-gum pop, has long been a major driver of traffic and revenue for YouTube. And now some of the biggest companies behind it all have banded together to better control their product.
Bubblegum pop first appeared in the United States as a format specifically designed to appeal to teens and preteens with what some consider to be cynically contrived upbeat sounds. Music and acts were churned out assembly-line style, almost, with a rotating cast of telegenic but fairly anonymous and even anodyne personalities as deemed marketable by a succession of the latest business plans. Whatever the criticism, however,
PeerTracks streaming service allows artists to self-publish songs and be transparent with their data.
it’s been a successful business model for decades and South Korea has been dominating this market internationally for the past few years. With a sizeable fanbase ranging from Europe and Asia throughout even the Americas, K-Pop racks up several hundreds of millions of views on YouTube and the Korean music industry has now decided to coordinate its marketing and distribution efforts.The K-Pop music industry is looking at a different kind of streaming service for their content. A streaming service they can manage themselves where the data and royalties are transparent.
The Rise of a New Streaming Service?
The new cooperative is called Music and Creative Partners Asia (MCPA) and aims to launch a VEVO-like music hosting platform. Interestingly, VEVO, which was created as a kind of answer to YouTube from major American music publishers, recently announced it was shutting down its website and mobile apps – conceding the music streaming business to YouTube (with which it’s always had a revenue-sharing deal, incidentally). But MCPA is forging ahead undaunted, with seven big-time South Korean labels ambitiously looking to leverage product popularity into a platform all their own.
It all started with the rapper PSY’s surprise hit “Gangnam Style,” which surpassed one billion views within just months of its YouTube debut. Only slightly more than half a decade now, K-Pop is a consistent moneymaker on that platform, and the South Korean publishers are finally deciding to secure their own distribution future in order to better monetize their intellectual properties.
Speaking of intellectual property, a main motivation of the new consortium is to crack down on piracy. It’s no secret that YouTube’s efforts to fight it are largely unsuccessful, what with an average three hundred hours of video uploaded onto that platform every minute– but it’s not clear whether MCPA might wind up killing the proverbial goose that lays the golden eggs; after all, many fans have found their way to K-Pop precisely because of the free offerings available on YouTube.
The Streaming Service Of the Millennium, For the Millennium
PeerTracks is a streaming service that’s available now, friendly to songwriters,musicians, fans, andpublishers alike. PeerTracks streaming service allows artists to self-publish songs and be transparent with their data.PeerTracks streaming service and smart contracts are transparent toall stakeholders because of its unique blockchain technology, which ensures prompt payment and accurate reporting for artists and publishers and free music for PeerTracks users. With an ever-expanding catalog, it shouldn’t be long before K-Pop finds a home away from home on PeerTracks streaming service, too!