Musicow Establishes US Corporation to Target Local Market

[Asia Economy Reporter Donghyun Choi] Music copyright royalty participation claim investment platform Musicow announced on the 24th that it has established a U.S. corporation and is launching a local market entry.

The United States is the largest music market in the world. As the country with the largest number of music copyrights overseas, it has a well-developed music fandom market. Moreover, with growing interest in fintech and alternative investment assets over the past few years, industry experts evaluate that a variety of environments have been created overall for Musicow to grow.

Currently, there is a music fund market in the U.S., but there is no active market where the general public can easily trade music copyright revenue rights directly like Musicow. The emergence of Musicow is expected to create a significant impact on the U.S. music copyright market as well. Musicow plans to introduce a model optimized for localization based on reviewing systems and related laws suitable for the U.S. market.

U.S. Musicow will supply not only Korean K-pop songs but also overseas music such as American pop. Many music experts believe this will further strengthen the globalization of Hallyu. In fact, Musicow currently holds participation claims for royalties on about 10,000 songs, ranging from K-pop idols like BTOB and IU to trot, 70s and 80s retro songs, and the indie scene.

Hanwha Systems is also participating as an initial investor and strategic partner. Hanwha Systems has decided on a seed investment of approximately 6 billion KRW in Musicow's U.S. corporation and will support Musicow's localization.

Jung Hyunkyung, CEO of Musicow, stated, "We will focus all our capabilities on the success of our service in the U.S. to elevate the status of this innovative K-platform," adding, "Entering the U.S. market will be a new catalyst for expanding the music ecosystem that Musicow has dreamed of."

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