Beyond Music, Korea’s version of Hipgnosis, conquering the global music IP market by taking over a large-scale music catalog management company
Beyond Music announced the acquisition of FNC Investment, a music IP holding company under FNC, for 47 billion KRW. The agreement includes all common stock of FNC Entertainment and all convertible bonds in which Dreamus Company has invested. May 2021.
Additionally, Beyond Music has decided to enter into a strategic partnership with Dreamus Company (CEO: Giyoung Lee), a prominent streaming service provider (FLO) and a subsidiary of SK Square, to cooperate in the global IP music market. Beyond Music will acquire FNC Investment’s convertible bonds held by Dreamus Company; Dreamus Company, as a strategic partner of Beyond Music, is to manage the distribution of music IPs owned by the company and participate in their global investment activities in the future.
Out of the deal, Beyond Music is to secure neighboring copyrights for over 400 songs, including a series of hit OSTs of ‘Hotel Del Luna’ and ‘Moon Lovers: Scarlet Heart’, which will be added to music from Beyond Music catalogs approximately 23,000 songs worth KRW 130 billion.
Beyond Music CEO Jangwon Lee revealed its ambition by stating, “We will expand Beyond Music’s IP portfolio by adding a new list of music IPs, including famous TV series OSTs with high demands. Following the purchase of new IPs and the partnership together with Dreamus Company, we will focus on getting more high-quality music IPs globally and become the ASIA the largest intellectual property management company beyond the market leader in South Korea. »
Established in January 2021 as a music intellectual property management company with investments focused on neighboring rights of music catalogs, Beyond Music was co-founded by CEO Jangwon Leewho co-founded Mapiacompany from ASIA the largest digital sheet music content platform company, and by composer Geuntae Park, a creator of hit songs. Thanks to attracting investment in December last year, Beyond Music has 270 billion won in total assets under management (AUM) of music file IPs, leading the industry as the largest music file IP management company in South Korea.
Have many IPs of great songs that were popular between 1990s and 2010s by Soo Young Lee, Hyō Shin Park, Urban Zakapa, Hyun-sik Kim and others, Beyond Music maximizes stability and profitability through structured financing. Also, they carry out aggressive marketing actions to allow their purchased music files to be used in other areas including remakes and background music for movies and entertainment, and help build the ecosystem of music creation. with virtuous circulation structures by supporting production companies and composers who have obtained funds by selling IP to focus on creative activities.
SOURCE Beyond Music