Does music sound all the same nowadays? This article revives the Frankfurt School’s critique of the culture industry by recontextualizing it within contemporary financialized platform capitalism. We argue that Digital Streaming Platforms (DSPs) like Spotify showcase the proliferation of the future-oriented asset logic inherent to both financialization and platformization. This process intensifies the standardization of music that was first recognized by Theodor Adorno. The playlist is the central device of this assetization of music, contributing to a noticeable decrease in sonic and stylistic diversity in music. We illustrate this novel development through a diachronic content analysis of hip-hop music, comparing Apple Music’s Hip-Hop/R&B Hits: 2002 playlist based on hip-hop charts from the pre-DSP era and Spotify’s largest in-house curated playlist RapCaviar (from 2022). Rather than democratizing the music market, as Spotify is often hailed to do, the twenty-first-century culture industry facilitates further homogenization of artistic expression. Our findings contribute to ongoing political economy debates about the effects of financialization, platformization, and assetization on music, culture, and the everyday.

This article examines the webtoon (wept'un)—a term coined in Korea to refer to webcomics—which is arguably the most pervasive and powerful form of digital serial production in twenty-first-century Korea. Webtoons have developed by utilizing various potentials that the digital platform offers, such as open solicitation, (partial) free web/mobile distribution, profit from advertisement and page viewing, and transmedia production. As a new cultural medium, the webtoon is thus inseparable from its platform and organically tied to its distinctive platform ecology, which is different from the ecosystems that other (global) mega-platforms create. Engaging with the insights from recent studies of platforms and utilizing empirical media analysis, I argue that Korean webtoon platforms demonstrate the continuing and intensifying dependency of art on platforms—a process that I call “the platformization of culture”—and that this specific type of platformization is reinforced by what I call “the artist incubating system.” The case of webtoon platforms reveals a number of telling aspects of media ecosystems for art production in the digital age—aspects that are spreading and expanding to various fields of art.