KOMCA Announces Significant Growth Of Overseas K-Pop Royalties
On September 3, the Korea Music Copyright Association (hereafter KOMCA) revealed that overseas royalties for Korean music have increased significantly.
Korean music royalties from overseas have recorded a total of 11.3 billion won (approximately $9.3 million) so far this year, which is a 140 percent increase from last year.
A representative of KOMCA commented, “The music of Korean artists such as BTS and BLACKPINK is receiving love from people around the world, and Korean artists are continuing to put on performances overseas. This is also the result of assigning specialized professionals to this department and using a strengthened system of monitoring music usage outside of Korea in order to avoid the omission of any K-pop royalties.”
KOMCA chairman Hong Jin Young added, “I am very proud and think it is meaningful that people from around the world are listening to and enjoying the music of our country, and this was all possible because of the hard work of our songwriters who put in their full effort to make good music.”
He continued, “In order to properly protect the rights of songwriters, KOMCA will work to assure the complete collection of music royalties from usage outside of Korea. We will also work to protect the rights of foreign songwriters by properly managing the usage of foreign music in Korea.”