After raising $200m and buying up rights in Asia, Korea’s Beyond Music wants ‘to conquer the global music IP market’
A serious new player in the global music acquisition space is making himself known.
Headquarters in Seoul Outside of musica company that calls itself “the Korean version of Hipgnosis“, splurged on the music copyright market in Asia, and said they now want to “conquer the global music IP market”.
Beyond Music claims to be Asia largest single music intellectual property management company, with current operating assets of approx 300 billion won Korean Won (U.S. dollar 200 million dollars).
The company said it hopes to have 1 trillion won Korean Won (800 million dollars) value of assets under management at the end of the year.
Beyond Music was founded in early 2021 by a famous musician Park Geun-tae plus Jang-won Lee (CEO), founder of the “Mafia Company”, is declared as Asia The largest digital music score platform.
According to Beyond Music’s website, in April 2021, the company completed a 65 billion Korean Won funding round (51 million dollars) from Korean institutional investors including KB Securities, Base Investment, Maven Growth Partners
In December 2021, Beyond Music lift up again 200 billion Korean Won (160 million dollars) investment from Praxis Capital.
The company is also busy on the acquisition front.
In May of last year, Beyond Music acquired South Korea-based KNC Music, in what it claimed was “the largest single music IP catalog acquisition in history”. [of the domestic Korean music market]”, Because 46.6 billion Korean Won ($36.8 million).
In March of this year, Beyond Music buying Investment in FNC – a subsidiary of FNC Entertainment based in Korea – said to be the “second largest music IP management company” in Korea, 47 billion Korean Won (approx 37 million dollars).
Through its agreement to buy FNC InvestmentBeyond Music says it has acquired “neighborhood rights copyrights” – presumably a source of revenue from neighborhood rights – for more than 400 tracks, including hit official soundtracks for shows Korean TV Hotel Del Luna and Moon Lovers: Scarlet Heart.
The transaction includes all of FNC Entertainment’s common shares in FNC Investment and all convertible bonds invested by Dreamus Company in FNC, a consolidated subsidiary of SK Square, an investment business arm of SK Square. SK Group of Korea.
Beyond Music has also signed a strategic cooperation agreement with Dreamus, the owner of the Korean music streaming service FLO, with a plan to “cooperate in the music IP business on a global scale”.
FLO was launched in 2018 in collaboration with partners such as Big Hit Entertainment, JYP Entertainment, and SM Entertainment.
Beyond Music’s latest buyback was confirmed this week, buying what it says is the “entire volume of neighborhood music copyrights” owned by a Korean record label and management company Interpark Music.
The company says that the deal includes 878 songs worth more than 50 billion Korean Won ($39 million) owned by Interpark, in which South Koean technology company Yanolja is the largest shareholder.
Beyond Music says it has “accumulated” more than 25,000 domestic and foreign music copyrights since its debut last year.
In a press release released this week, Sean Rheea partner of Beyond Music, stated that the company “will continue to promote various mergers and acquisitions to create business opportunities unlike any other domestic or foreign company”.
“We will continue to promote various mergers and acquisitions to create business opportunities unlike any other local or foreign company.”
Sean RheeOutside of music
Sean Rheea partner of Beyond Music, said: “From May 2021we were able to secure not only KNC Music (the former name of Beyond Music), FNC Investment and Interpark Music Department hit songs of the 80s-90s, but also OSTs and hit songs of those 2010.
“This helps us dominate the profitable music and entertainment market. We will continue to promote various mergers and acquisitions to create business opportunities unlike any other local or foreign company.”
“We will focus on getting more high-quality music IPs on a global scale.”
Jang-won Lee, Beyond Music
Speaking in March and commenting on Beyond Music’s acquisition of FNC and its partnership with Dreamus, Jang-won Lee, said, “We will expand Beyond Music’s IP portfolio by adding a negative IP list New music includes OSTs of popular TV series with high demand.
“After purchasing new IPs and partnering with Dreamus Company, we will focus on getting more high quality music IPs on a global scale and becoming the By ASIA largest IP management company outside the market leader in Korea. ”Worldwide music business
