Musicow Surpasses 1 Million Cumulative Members

[Asia Economy Reporter Seungjin Lee] Musicow announced on the 21st that as of the 15th, it has surpassed 1 million cumulative members and 339.9 billion KRW in cumulative transaction volume.

Musicow is a music copyright royalty participation claim investment platform, which as of the end of last year surpassed 915,000 cumulative members and 318.3 billion KRW in cumulative transaction volume, showing a steep growth rate with increases of over 300% and 650% respectively compared to the same period last year.

Looking at the age distribution of members, those in their 20s, mainly the MZ generation (Millennials + Generation Z), accounted for 25%, and those in their 30s accounted for 30%. Following were those in their 40s at 26% and those in their 50s at 13%, indicating a high proportion of middle-aged and older adults, showing interest from various economically active age groups.

Currently, more than 1,100 songs are traded on Musicow, allowing investment in songs from various singers and genres including IU, TWICE, as well as Lee Sun-hee and Kim Hyun-sik.

To ensure that customers' assets are protected through strengthened management and monitoring mechanisms within the regulatory framework, Musicow applied for a demand survey in March to be designated as an innovative financial service provider under the financial regulatory sandbox system. Additionally, to enhance platform system authentication and security, they signed a business agreement with fintech security company Aton, and also revamped the site and updated the investment white paper to strengthen user protection.

To commemorate surpassing 1 million members, Musicow is holding a special event until the 3rd of next month. All participants will receive 5,000 cash, and one selected winner will receive an additional 1,000,000 cash. Furthermore, if you apply for a fee payback after transactions exceeding 1 million KRW, you can receive 50% of the fees back.

A Musicow representative said, “Thanks to the explosive interest and support, the number of people joining Musicow has now exceeded 1 million,” adding, “Going forward, Musicow will prioritize strengthening user protection and focus all company-wide capabilities on creating a virtuous cycle structure that fosters a healthy music ecosystem through the combination of culture and investment and further develops it.”

This content was produced with the assistance of AI translation services.