The domestic music industry last year was fourth in global export capacity following the U.S., U.K. and Canada. Shown is the K-pop girl group BLACKPINK. (BLACKPINK's official website)

By Lee Jihae

The domestic music industry last year ranked fourth in global export power following its counterparts in the U.S., U.K. and Canada.

Luminate, a Los Angeles-based company that analyzes data on music and entertainment, on Jan. 28 placed Korea fourth in its Luminate Export Power Score.

The index measures a country's music export capacity.

The criteria are rank of artists in each country based on total on-demand streaming and country of origin; number of countries importing music from a given export country; streaming size of importing countries; and number of artists per export country reaching international audiences.

"In other words, a country would score highly if they had a significant volume of artists reaching international markets, had artists with strong performance in those countries and had artists reaching countries with a higher share of the global music industry," Luminate said on its website.

Germany was fifth and France sixth. Puerto Rico, Australia, Sweden and Brazil in that order rounded out the top 10.

The biggest importer of Korean music was Japan, followed by Taiwan and Indonesia. 

Luminate, a Los Angeles-based data analysis company for music and entertainment, on Jan. 28 said Korean music has the world's fourth-highest export power. (Screen captured from Luminate website)