Southeast Asia has been one of the most interesting territories for recorded music growth for some time now, so it’s no surprise to see global companies stepping up their efforts in the region.
Independent dance label Monstercat has opened its APAC office in Singapore – its third office after Vancouver and Los Angeles. The label says it already has hundreds of thousands of followers of its Asia-Pacific social channels, and has signed a number of emerging artists and producers from the region.
Distributor TuneCore is also expanding in Asia-Pacific, but in its case the expansion is in how it gets paid by musicians. The company is working with payments technology firm Adyen to use a series of local payment systems: Dana in Indonesia; Gcash in the Philippines; MoMo in Vietnam; and China Union Pay globally.
“In Indonesia, Philippines and Vietnam, card penetration remains low while e-wallets usage is quickly becoming ubiquitous among the population in recent years,” said head of TuneCore Southeast Asia Cyrus Chen, as an explanation for the move.
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