Dream Earth Company, which operates the music streaming platform FLO, continued its profitable trend by expanding its intellectual property (IP) business, including music distribution, concerts, and merchandise (MD).
On the 25th, Dream Earth Company announced that it recorded sales of 91.4 billion won and an operating profit of 1 billion won for the first half of this year. Following a shift to profitability last year, the company maintained its profitable status in the first half of this year as well.
The improvement in performance was driven by the music IP business. The share of the IP business, which accounted for about 65% of total sales last year, recorded approximately 62% in the first half of this year. It is explained that the profit structure has improved as the sales ratio of relatively stable revenue-generating businesses such as music distribution, MD, and concerts has expanded.
Dream Earth Company is building a "Music Alliance" that connects music content companies, entertainment agencies, and record sales and data companies, while expanding its business scope. This strategy aims to expand the business range beyond simple music streaming to include planning and production of artist IP, concerts, and fan commerce.
With content company Makeus, it unveiled the fan platform "FLO Jip" and the web variety show "My ZIP Preparation," a joint venture with Dingo Music. Collaboration is also underway to link Dingo content with FLO.
With R&D Company, it supports everything from the distribution of its affiliated artists' music and albums to fan communication, promotion, and marketing. It took charge of distributing Daesung's album "Exceeding Limits" and a project to release remade music by Nam Yu-jeong. "Exceeding Limits" achieved results overseas as well, such as ranking third on the Vietnam iTunes Top Songs chart after the Coachella stage.
With Hyeut Ppeut, the agency for B1A4, it expanded its cooperation scope starting with new album distribution and MD sales at the Sandeul fan meeting. Approximately 4,000 people attended the B1A4 15th-anniversary concert, which was directly planned by Dream Earth Company.
Through cooperation with Hanteo Global, it has also established a system where album sales figures sold through FLO Shop are reflected in Hanteo Chart's initial sales volume. It plans to explore additional businesses utilizing K-pop-related data in the future.
Dream Earth Company plans to expand its fan commerce business centered on "FLO Jip," a global fan platform launched last month. The plan is to connect the entire lifecycle of artist IP, from music planning and production to distribution, concerts, merchandise sales, and platforms.
Lee Ki-young, CEO of Dream Earth Company, said, "As a result of transforming our business structure around music IP together with partner companies," and added, "We will strengthen our position as a comprehensive music company that provides all music-related services in one place."
in TECH
