South Korean music asset management company, Beyond Music, has acquired Interpark Music assets.
Beyond Music says this latest acquisition firmly establishes itself as “Asia’s largest single music IP management company.” The deal encompasses 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 ($38.7M USD) owned by Interpark, of which Yanjolja is the largest shareholder.
The Interpark Music acquisition consists of hit songs that were released more than 20 years ago to songs of the mid-2010s. They include Davichis’s “8282,” T-ARA’s “Roly-Poly,” Lim Chang-jung’s “My Love,” and LABOUM’s “Imagination Plus.” Beyond Music is hoping to tap into nostalgia for these songs that are continuously enjoyed by the public in South Korea today.
Beyond Music now retains more than 25,000 domestic and foreign music copyrights. Calling itself Asia’s largest music IP asset management company, Beyond says it is now valued at 300 billion won ($232.2M USD). Beyond Music says it has also succeeded in becoming the #1 player among domestic music IP management companies in South Korea.
“From May 2021 we have been able to secure not only KNC Music, FNC Investment, and Interpark Music Department’s popular songs in the 80s and 90s, but also OSTs,” says Sean Rhee, a Beyond Music Partner. “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.”
Beyond Music is a music copyright management company that is hoping to become Asia’s version of Hipgnosis. It was established in May 2021 by CEO Jang-won Lee, who founded Mafia Company – Asia’s largest digital music score platform. In December 2021, Beyond Music raised 200 billion won ($154.8M USD) from Praxis Capital as a result of AUM of 270 billion won value of music IP assets.
In May 2021, KNC Music was acquired for 46.6 billion won ($36M USD). In March 2022, the company acquired FNC Investment for 47 billion won ($36.3M USD).