CanvasN (formerly BigTents) is set to actively expand its new business in content IP (intellectual property).
On the 11th, CanvasN announced that it has signed a strategic business agreement (MOU) with Fandom Corporation, the producer of goods for the global hit song "Apartment (APT.)" by Ros? and Bruno Mars.
Fandom Corporation is a company specializing in MD (merchandising) production utilizing the IP of K-POP artists. It has signed a master merchandising contract for the goods of "Apartment." Last year, it secured comprehensive rights including production, distribution, and sales through a master merchandising contract using the IP of artists under SM Entertainment.
According to this agreement, CanvasN plans to actively participate not only in the merchandising of Apartment goods owned by Fandom Corporation but also in the IP merchandising of artists under SM Entertainment. Furthermore, the two companies will establish a strategic partnership covering K-POP MD planning, production, distribution, and sales by leveraging their IP, infrastructure, and networks.
The company emphasized the importance of K-content, stating that it will further strengthen global fandom-based sales. In particular, K-POP is the fastest-growing sector, surpassing 11 trillion KRW in sales in the first half of last year alone. According to data from the Ministry of Foreign Affairs and others, as of last year, the K-POP fandom market size was estimated at 8 trillion KRW, with the global Hallyu fan base estimated at 224.9 million people.
In fact, according to foreign media, as of the 11th, "Apartment" achieved 15 consecutive weeks at number one on the US Billboard Global (excluding US) chart, surpassing the record of pop star Mariah Carey.
A CanvasN official stated, “With the signing of this strategic business agreement, we plan to further strengthen global fandom-based sales and accelerate global expansion based on continuous content IP business growth.”
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