[Valuable Intellectual Property] "Let's Make Money with Characters" Companies Supporting Creators

⑥Creator Economy and Platform Companies
Creating Spaces for Communication with Global Fans
Collaborating with Brands Using Character IP
Producing Solo Goods Without Inventory Worries

Handhug held the 'Gukchae Representative Selection Contest' last year in collaboration with Shinsegae Simon Premium Outlets. About 100 creators showcased the characters they created to the public, and through a vote participated in by over 160,000 people, the final 10 characters were selected. Using the selected characters, a Halloween party was held throughout October.

As individual creativity, preferences, and experiences gain attention, the creator economy is booming. Creators build fandoms and produce content based on intangible intellectual property (IP), applying it to business. Some run YouTube broadcasts using their unique characters, while others generate revenue by selling merchandise. [Related article = How do successful creators view ‘quiet resignation’?]

According to Adobe’s “Future of Creativity” report released in August last year, the creator economy rapidly grew around the COVID-19 pandemic. Over the two years since 2020, 165 million new creators have emerged worldwide. These creators realize their identities through content creation while voicing their opinions online and leading social discussions. A survey of about 9,000 creators showed that 43% of respondents plan to develop more creative or media content over the next two years, indicating that the creator economy will continue to thrive. Here are some domestic platform companies that support creators’ creative activities and monetization businesses.

◆The choice of the production company behind Woo Young-woo= BeMyFriends’ corporate introduction video begins with the phrase “Everyone is a fan of something.” BeMyFriends, a fandom business specialist company, offers the software-as-a-service (SaaS) platform “BeStage,” which connects creators and fans. Creators can upload content, manage communities, and communicate with fans using BeStage. Global fandom experts assist creators’ business activities in various ways. Multilingual services are also supported, including English, Chinese, Japanese, and Spanish.

It is notable that Ace Story, the production company of the drama Extraordinary Attorney Woo, chose BeMyFriends. They expanded touchpoints by holding a whale drawing event for fans and selling Woo Young-woo merchandise. The girl group “Kara,” reunited after seven years, also created a communication space with fans through BeMyFriends. A BeMyFriends representative said, “The platform is open so that any creator who wants to build their own platform can join for free.”

Bakery products created through a collaboration between the Kkotka character and CU convenience store.

◆The next ‘Janmang Loopy’ is coming= Founded in 2015, HandHug is a platform company that supports character-creating creators’ monetization businesses. Its online and offline platform “Jelly Crew” hosts about 500 teams. HandHug also handles the development and marketing of character-related products. For example, the flower car character of creator “Youngi’s Forest” became well-known in 2021 when HandHug developed over 50 products and opened pop-up stores in department stores. Now, it is expanding its influence through collaborations with various brands such as CU convenience stores and Sulbing.

HandHug’s annual sales reached 2.3 billion KRW in 2020, 5.1 billion KRW in 2021, and surpassed 10 billion KRW last year. With seven directly operated stores nationwide and over 260 product sales partners, HandHug has accumulated more than 3 million sales data points. A HandHug representative said, “Our success lies in the ability to commercialize faster than competitors based on data,” adding, “We will establish a structure that allows creators to earn high profits, contributing to market maturation and intellectual property protection.”

◆One-person merchandise shops, no inventory burden= Marpple Corporation operates “Marpple Shop,” a platform where anyone can create a one-person online merchandise shop. Marpple Shop hosts 50,000 creators selling over 900,000 products. It stands out by solving difficulties faced by individual sellers. It provides a one-stop service from product ordering and manufacturing to sales, shipping, and customer service (CS). Especially, products are made immediately after a customer orders, reducing inventory burdens. The company successfully raised 12 billion KRW in Series A funding and built a 1,200-pyeong (approx. 3,967 m²) smart factory in Gasan-dong, Seoul, completing an automated production process.

Scone conducted live commerce last year on 11st, featuring the Buldak Bokkeum Myun brand character as a show host who interacted with viewers in real time.

◆Do you know ‘VTubers’?= In Japan, virtual YouTubers (VTubers) are showing remarkable growth. Anicor, the operator of Japan’s VTuber MCN “Nijisanji,” recorded sales of 14.1 billion yen in 2021, more than 15 times the amount in 2018. In 2021, the top five YouTube Super Chat channels worldwide were all VTuber channels. Recently in Korea, Kakao Entertainment attracted attention by launching the virtual idol debut survival program “Girl Rebirth.” It is a format that moves audition broadcasting programs into a virtual world. Founded in 2018, “Scon” supports virtual character creation and broadcasting. Users can create their own characters and produce live broadcasts or video content using only PC programs and iPhones. It recognizes human facial expressions and movements and replicates them exactly on the characters. Last year, Scon conducted a live commerce broadcast using the Buldak Bokkeum Myun character, attracting about 1.05 million visitors in just one hour.