Saturday, 12 January 2013

Price of Digital Music Content in Korea vs World

As you can see here, price per download in Korea is compared to other countries. Most of the other services come from iTunes with the exception of Japan. The price for a download in England, America, France, Canada, Australia and Japan via iTunes is converted into won. The lowest range for 1 downloads is in Australia with the equivalent of  1,111 won and the highest being 2,445 in Japan. Mora and Yahoo Japan charge even higher prices, the equivalent of between 2,034 and 2,713 won per download. Compare this to the 600 won charged in Korea, that is the price without any packages or subscription services. It is simple to see that the prices in Korea are generally half of other countries. if you take into account packages, prices can be as low as 10% of what is charged in other countries.

This chart compares streaming services. These are websites that allow you to stream music as much as you want for, usually, a monthly fee. Spotify in Europe charges the equivalent of 8,824 won per month, Rdio in North America charges 5,573 won while Yahoo Sound Station in Japan charges the equivalent of 5,085 won. This is compared to the 3,300 won that was charged in Korea.

Recently both download and streaming prices have risen but not by very much. Still early signs are that these increases are having a small effect on digital revenue. Melon, the largest online music retailer in South Korea, is currently selling streaming services on sale for between 3,430 won and 4,900 won. Regular price would be 6,000 won. Regular price for new download packages would be between 110 won and 300 won per download but Melon's current sales has them for between 90 won and 230 won per download, depending of which package you buy. 

Source: GAON

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