Q3 Sales of 75 Billion KRW... "Strong Performance in IP-Linked Business"
Dreamus Company, the operator of the music streaming app 'FLO,' announced on the 14th that it recorded consolidated sales of 75 billion KRW and an operating profit of 1.8 billion KRW for the third quarter. Dreamus Company is an affiliate of SK Square.
Dreamus Company stated, "The performance of intellectual property (IP)-linked businesses such as artist MD and concert goods showed strong growth, and through active cost efficiency measures, we achieved a turnaround to operating profit compared to the previous year," adding, "This profit was achieved within just one quarter."
Dreamus Company is focusing on strengthening its competitiveness in music and album distribution through the growth of IP-linked businesses and collaboration with major domestic agencies and entertainment companies such as JYP Entertainment, Mystic Story, and ODD Entertainment. They are also conducting concert planning and production projects in cooperation with these partners.
Additionally, as part of its platform business, Dreamus has launched a bundled product for the knowledge-based subscription service 'LongBlack' and is expanding its business-to-business (B2B) services with companies such as Haitai Confectionery and Samsung Financial Networks.
Kim Dong-hoon, CEO of Dreamus Company, said, "We will strive to enhance the company's value as an enter-tech company through continuous management efficiency improvements, development of solutions combining IP with artificial intelligence (AI) capabilities, and the creation of new businesses."
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