BeMyFriends Acquires SK Square Subsidiary... Anticipating K-pop and Fandom Synergy

Announcement of Stock Purchase Agreement for Acquisition of Flo Operator
Innovative Integrated Music Platform Expected
Secures 21 Billion Won Investment from Goodwater Capital

BeMyFriends, which operates the global fandom business platform BeStage, is set to acquire Dreamus Company, a subsidiary of SK Square. Dreamus Company operates the music platform Flo and is engaged in music distribution, live performances, and digital content businesses.

On October 31, BeStage officially announced the signing of a stock purchase agreement for the acquisition of Dreamus Company. A representative from BeMyFriends stated, "This acquisition is expected to serve as a strategic turning point, expanding our business scope beyond fandom platforms to include music streaming, music distribution, and live performance infrastructure." <Related Article=[Valuable Intellectual Property] The Secret to the 'K-Wave' in K-pop, According to an IP Business Expert>

In particular, the combination of the Flo music platform and the BeStage fandom platform is expected to give rise to an innovative music platform that integrates fandom communication, commerce, and performances.

Since the global launch of BeStage in 2022, BeMyFriends has established over 300 fandom platforms across various fields such as K-pop, e-sports, musicals, and content, leading the fandom business market. The company has recorded more than triple year-over-year growth for two consecutive years and, as of September, surpassed its break-even point (BEP).

One of BeMyFriends' co-CEOs, Lee Kiyoung, is also a former executive of Dreamus Company. From 2019 to 2022, he served as CEO of Dreamus Company, where he planned Flo and led music and album distribution as well as live performance projects.

Additionally, following a strategic investment from Mitsubishi's Bricks Fund in Japan, BeMyFriends secured an investment of 21 billion won from Goodwater Capital, a global venture capital firm that has invested in Korean unicorns such as Toss and Danggeun Market. The acquisition of Dreamus Company was also pursued through a strategic partnership with Midas Private Equity, a leading domestic private equity fund.

Through this acquisition, BeMyFriends will complete a comprehensive fandom business value chain encompassing music streaming, music distribution, fandom platforms, membership and commerce operations, live communication, and performance infrastructure.

BeMyFriends plans to leverage Dreamus Company's music distribution, production, and performance infrastructure to further expand its fandom business. Furthermore, by integrating BeStage's core features-such as one-on-one communication between fans and artists, community, membership, and merchandise commerce-with Flo, the company aims to build an innovative service that enables everything from music streaming to fan interaction, product purchases, and ticket reservations in a seamless, one-stop platform.

In the mid- to long-term, BeMyFriends has set a goal to become the number one player in the global fandom business market. Having already established a global ecosystem where fans from 230 countries communicate via BeStage, the company expects to accelerate its global expansion in the music market through synergies with Flo.

Seo Wooseok, Co-CEO of BeMyFriends, stated, "The merger of the two companies will revolutionize the relationship between fans and artists and become a game changer that creates an unprecedented music fandom experience in the global market."

Meanwhile, BeMyFriends is also expanding into the content IP fandom business by establishing the official fan community for K-Pop Demon Hunters. The company plans to focus on building innovative platforms and partnerships to ensure that various IPs can achieve sustainable growth based on global fandoms.

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