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Spotify to bring back K-pop songs after its negotiation with Kakao M!

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Several K-pop songs are returning to Spotify after it renewed a licensing agreement with the Korean music distributor Kakao M.
Spotify to bring back K-pop songs after its negotiation with Kakao M!
File photo: Spotify showing South Korean talents

Spotify renewing its agreement with Kakao M

To recall, Kakao M is a Korean label that handles catalogs of popular K-pop artists like IU, Loona, Mamamoo, among others. Kakao M's artists account for 37.5 percent of the songs featured on the 2020 Top 400 Yearly Song Chart from Gaon Music Chart. 
 
On March 1, Spotify removed a large number of K-pop releases worldwide, and all of them are songs by singers under Kakao M. The reason behind this is the lapse of a licensing deal between the two companies. Some K-pop fans canceled their premium Spotify membership because of this event.

However, there was an announcement from a news website that Spotify and Kakao M had already reached an agreement by renewing their licensing deal. This what their joint statement says,

Both companies have completed discussions about the renewal of their global licensing contract. As a result, Kakao Entertainment’s content will be available on Spotify platforms around the world, including in South Korea.

In the meantime, there's still no information on when the songs would be accessible again on the streaming service. 

Due to this licensing issue, only K-pop songs from the "Big Four" remain on Spotify as of the writing. This includes SM Entertainment, YG Entertainment, JYP Entertainment, and BigHit Entertainment–remain on Spotify as of the moment.

Any thoughts on this issue?

Sources: ABS-CBN, Soompi
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