Tuesday, December 7, 2021
More

    Latest Posts

    K-pop boom drives South Korea’s entertainment listings to record high

    South Korean music agencies are rushing to take advantage of the growing global demand for K-pop, which has pushed South Korea’s entertainment sector list to a record high.

    According to Dealogic data, the funding raised by the entertainment listing in Seoul reached a record $ 3.8 billion this year, and as artists resume live concerts and other events, stocks of major domestic music agencies are record highs. Was recorded.

    NS Worldwide popularity The number of K-pop stars, including the seven-member boy band BTS and the girl group Blackpink, encouraged smaller agencies to flock to the market.

    RBW, the music label behind girl group Mamamoo, will go public on Monday after raising 26.8 billion won ($ 22.5 million) in an initial public offering. IPO pricing has been capped and offerings have been oversubscribed more than 3,700 times.

    “The success of the IPO proves the importance of music IP and our growth prospects,” RBW President Kim Jin U told the Financial Times. “We will continue to create key killer content for the global market.”

    According to Kim, RBW will use the revenue from the IPO to acquire more music labels and IPs and sign more artists across Asia to accelerate its global expansion.

    The company’s list was released after Dear U, a K-pop fan communication platform operator, was released in early November. Backed by both SM and JYP Entertainment, Dear U raised 85.8 billion won in its IPO, and its listing attracted a great deal of interest from both institutional and individual investors.

    Foreign investors from about 20 institutions, including Singapore Sovereign Wealth Fund GIC, JP Morgan Chase, Fidelity and Allianz, participated in an investor publicity session for DearU’s IPO.

    The attention of small Korean companies is rare, and most foreign investors have traditionally focused on the IPOs of large Korean companies. So far this year, more than 100 companies have raised a total of Won20tn through an IPO, according to the Korea Exchange.

    Choi Jun-chul, Chief Executive Officer of VIP Research and Management in Seoul, said: “Dear U is the best example of a new business model in the industry with K-POP fandom.”

    The stock price of Dear U rose more than 240% from the IPO price to 89,400 won. The company operates a subscription-based messaging platform and plans to launch a platform that allows stars and fans to interact in virtual reality.

    DearU currently operates a platform called the “DearU Bubble”, where K-pop fans can interact with their favorite stars using messages, photos and videos. According to the company, the platform has 236 artists and more than 800,000 subscribers.

    Investment bankers are said to be preparing for their next IPO at the earliest, with more K-in the coming months following the success of the label Hybe behind BTS, led by music IP trading platform MusicCow. The year in which pop-related companies are expected to go public.

    “The valuation is very high, reflecting the potential for future growth,” said Kim Jun-kong, Head of Equity and Capital Markets at NH Investment & Securities.

    K-pop boom drives South Korea’s entertainment listings to record high Source link K-pop boom drives South Korea’s entertainment listings to record high

    The post K-pop boom drives South Korea’s entertainment listings to record high appeared first on California News Times.

    Source link

    Latest Posts

    Don't Miss

    Stay in touch

    To be updated with all the latest news, offers and special announcements.