Ever since BRAVE GIRLS announced the end of their exclusive contract, the desire to own BRAVE GIRLS songs has grown within Music Cow.
According to Music Cow, on March 10, one week before (February 9-15) and one week after (February 16-22) the announcement of the BRAVE GIRLS‘ exclusive contract ending, the trend showed a increase in the purchase of royalties by 22% of “Rollin”, 100% of “High Heels“, and 233% in “You know“. BRAVE GIRLS fans show continued interest in artists even after their exclusive contract ends by holding music copyright assets.
Thus, more advanced cultural goods infiltrate daily life. The dictionary meaning of “merchandise” is “anticipated products, released by specific brands or artists“. Merchandise is a medium that connects artists and fans and a way to further solidify their loyalty. Usually it’s easy to consider only visible products as goods, but this is not the case. In the music industry, another type of product is grabbing attention by being able to share copyrights for music from artists you like. It’s through Music Cow, which operates a music intellectual property copyright sharing platform.
Music Cow opens up to users through an auction method (auction) so that the financial rights arising from copyrights can be transferred from the rights holder and valued directly to the public. Members buy a royalty share for their favorite music by participating in the Music Cow platform and receive monthly royalties. Through this, they participate in the creation of legitimate values of culture beyond the sole subjects of musical consumption, which is in line with the major fandom culture of the fandom 4.0 era which actively contributes to cultural creation.
In fact, “cultural satisfaction” is considered an important investment factor. Following the confirmation of the motivation of Music Cow subscribers to invest, about 21% of investors paid attention to the nature of the means to express their fan feeling, that is, as cultural goods.
“In Music Cow, the fandom has expanded its role by investing in special products that support a better creative environment for artists and generate profits,” a Music Cow official said. “As it’s a new way, Music Cow will strive to create a healthy music ecosystem where artists and K-pop fans coexist.”
Music Cow is the world’s first music intellectual property copyright sharing platform that allows individuals to own and trade music copyrights, which were exclusive to artists, in the form of certificates of beneficiaries. Last year, it was designated as an innovative financial service by financial authorities and securitized music copyright, an intangible asset. This is the world’s first non-real estate trust beneficiary certificate. Currently, he has about 1.2 million cumulative members and about 400 billion won in transactions, and also strives to revitalize the cultural ecosystem as the director of the newly established cultural finance division at the Fintech Industry Association.
Journalist: Shawn
Translator: Shawn
Source: Music cow
