Cision PR Newswire
"Asia's Largest Single Music IP Asset Management Company" Beyond Music, Took Over Interpark Music Division's Neighboring Copyrights, Securing Sweeping IP
News provided byBeyond Music
Jun 08, 2022, 10:24 PM ET
- Beyond Music acquires all of Interpark Music Department's neighboring copyrights
- Accumulated over 25,000 music works with the securement of neighboring rights of 878 hit songs including Davichi's "8282" and T-ara's "Roly-Poly"
- With its operating assets of approximately 300 billion won, Beyond Music has maintained its No. 1 position as a domestic music IP management company and is expected to become Asia's largest IP management company with AUM of 1 trillion won by the end of this year
SEOUL, South Korea, June 8, 2022 /PRNewswire/ -- Beyond Music, an investment and management company focusing on music IP aggregation, has established itself as Asia's largest single music IP asset management company by signing an asset transfer contract on the entire volume of music neighboring copyrights owned by the Interpark Music Business Department.
Beyond Music acquired all 878 songs worth over 50 billion won owned by Interpark, of which Yanolja is the largest shareholder.
Beyond Music's acquisition of Music IP consists of hit songs that were released more than 20 years ago to songs of the mid-2010 such as Davichi's "8282", T-ARA's "Roly-Poly," Lim Chang-jung's "My Love," and LABOUM's "Imagination Plus"; these songs have topped countless music charts in the past and have been continuously loved by the public even today, proving to have their investment value.
As a result, Beyond Music has retained a total of more than 25,000 domestic and foreign music copyrights and at the same time, has been reborn as Asia's largest single music IP asset management company, valued approximately 300 billion won. Beyond Music succeeded in consolidating its position as the No. 1 player among domestic music IP management companies with this acquisition and plans to grow into Asia's largest IP management company with Asset Under Management (AUM) of 1 trillion won by the end of this year through collaboration and synergy with existing media and entertainment companies.
"From May 2021, we have been able to secure not only KNC Music (Beyond Music's former name), FNC Investment, and Interpark Music Department's popular songs in the 80s to 90s, but also OSTs, and 2010s' hit song," said Sean Rhee, a partner of Beyond Music. He added, "This enabled us to gain an upper hand in the music and entertainment markets with high profitability. We will continue to push for various mergers and acquisitions to create business opportunities unlike any other domestic and foreign companies."
Founded in May 2021, Beyond Music is a music copyright management company jointly established by CEO Jang-won Lee, who founded "Mafia Company," Asia's largest digital music score platform company, and hit-songwriter Park Geun-tae. In December 2021, the Company raised 200 billion won of investment from Praxis Capital, as a result holding AUM of 270 billion won value of music IP assets. In May of the same year, Beyond Music acquired KNC Music, the largest single music IP portfolio acquisition in the history of the domestic music market, for 46.6 billion won, and acquired FNC Investment, a music IP holder under FNC, for 47 billion won in March this year.
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SOURCE Beyond Music