Final Japanese will be getting the opportunity to enjoy music on through Spotify. The music streaming service announced today to entering the hugely lucrative market, though it had an office in capital city Tokyo for past one-and-half year.
Japan is the second largest music market in the world after United States and it is learned Japanese still prefer listening music through physical formats like CDs instead of online streaming.
However, Spotify is considering the market as a good opportunity to exploit rather than a threat.
Spotify would be going to public next year and success of the company in Japanese market would give some mementum to the efforts.
Online music service has lately become highly competitive with competitors like Apple, Line and Rakuten.
Very recently Spotify crossed the milestone of 40 million paying customers and the company is aiming to get a large chunk more from Japanese market.
The Swedish company had earlier this year in March launched its service in Indonesia and Japan is its second major expansion in Asia this year.
Spotify first entered the Asian market in 2013 with launch of music streaming service in Hong Kong, Singapore and Malaysia. Ahead of 2016 it just expanded in Philippines in the continent.
In Japan it is worth knowing people are not used to paying for digital music consumption and this made Spotify so long time to take decision of launching the service here.
However, Spotify is positive and is viewing the opportunity to gain some momentum in the country.