The Korea Music Copyright Association (Komca) distributed 423.5 billion won ($320 million) in royalty payments to music creators last year, up 8.95 percent from the previous year, the association said Wednesday.
According to Komca, the agency collected 436.5 billion won in royalties in 2024, up 7.38 percent from 2023, when annual royalties exceeded 400 billion won for the first time thanks to growing demand and use of music in streaming, broadcasting, live performances, and exports.
From the total amount collected, Komca charges a handling fee of about 10 percent, which differs slightly depending on the different types of usage. The distribution period also varies depending on each type. For example, payments for music used in broadcasting between January and March are distributed in September, but for music used in live performances, payments are made the following month.
Streaming royalties amounted to 172.1 billion won, the highest of all types. Streaming includes fees from not only music streaming platforms but also video streaming, including YouTube and Netflix.
Music streaming accounted for 44.7 billion won, up 49.5 percent from a year earlier. The increase came after Komca and local broadcasters settled their legal disputes over copyright usage fees last year and the uncollected fees were paid to Komca.
Live performance fees, which also include the use of music in stores and karaoke bars, increased 8.1 percent from 2023 to 54.8 billion won. Royalties on foreign music amounted to 37.7 billion won, up 38.1 percent from 2023.
Reproduction fees, which occur when digital music is copied onto other media such as CDs, decreased 22.1 percent in 2024 to 93.3 billion won. The lower amount is the result of a decline in album consumption and K-pop fans’ preference for live music.
“The year 2024, when Komca celebrated its 60th anniversary of its establishment, was a year in which we strived to establish fair policies and improve a strong copyright ecosystem. “We will continue to strengthen our copyright system to protect the rights of musicians and the fair value of creative work,” said Chu Ga Yeoul, Chairman of Komca..
Founded in 1964, Komca is Korea’s largest music rights management agency and represents the majority of the country’s creators. Komca hosted the general assembly of the International Confederation of Societies of Authors and Composers, also known as Cisac, last May.
Journalist: Shawn
Translator: Shawn
Source: Komca
