Recently, an important new player in the global music copyright field has begun to emerge. Headquartered in Seoul, South Korea, Beyond Music positions itself as the Korean version of Hipgnosis, the music copyright investment fund listed company, and has embarked on an ambitious rhythm of invading the Asian music copyright market with massive investments. Beyond Music claims to be the largest Asia-focused music IP asset management company in Asia, currently operating assets worth around 300 billion Korean won ($200 million). The company also said it expects to manage assets worth 1 trillion Korean won ($800 million) by the end of this year.
Beyond Music completed $510 million in financing from Korean institutional investors in April 2021
According to the Beyond Music website, in April 2021, the company completed financing of up to 65 billion Korean won ($51 million) from Korean institutional investors such as KB Securities, Base Investment, and Maven Growth Partners. In December 2021, Beyond Music raised an additional 200 billion Korean won ($160 million) in investment from Praxis Capital.
Beyond Music has been busy acquiring music copyrights
In May last year, Beyond Music acquired KNC Music, headquartered in South Korea, for 46.6 billion Korean won ($36.8 million), claiming it was the “largest single music IP portfolio acquisition in the history of the South Korean domestic music market.” In March this year, Beyond Music acquired FNC Investment, a subsidiary of South Korean FNC Entertainment, for 47 billion Korean won (about $37 million), which the company called the “second largest music IP management company in South Korea” in its press release. Beyond Music said it has obtained over 400 song titles through the acquisition of FNC Investment.
Beyond Music aims to occupy a leading position in the global music IP market
In a press release this week, Beyond Music partner Sean Rhee claimed the company will continue to drive various mergers and acquisitions to create business opportunities unlike any other domestic or foreign company. Rhee said, “Starting from May 2021, we have been able to obtain pop songs from the 80s to 90s of KNC Music, FNC Investment and Interpark Music Department, as well as OST and hit songs from the 2010s. This allows us to have the upper hand in the music and entertainment market with high profitability.” Beyond Music said it has “accumulated” over 25,000 domestic and foreign music copyrights since its launch last year.
Maven Investment Partners participated in Beyond Music’s financing
As mentioned earlier, in April 2021, Beyond Music completed financing of up to 65 billion Korean won (about $51 million) from Korean institutional investors including Maven Growth Partners. Maven Investment Partners is a US-based investment management firm focused on venture capital and growth equity investments. Its participation in Beyond Music’s financing highlights Maven’s ambition in tapping into emerging opportunities in the Asian music copyright sector alongside Rapid growth of players like Beyond Music.
Beyond Music, backed by investors like Maven Investment Partners, has demonstrated strong aspirations to seize a leading position in acquiring and managing music intellectual property rights globally. Its acquisitions and partnerships so far signify its strategy of aggressive expansion in Asia and beyond.