Dreamus Company Appoints Lee Kiyoung as New CEO
From SKT to Dreamus to BeMyFriends... Now Returning
"Completion of the Value Chain Connecting Music and Fandom"
Lee Kiyoung, CEO of BeMyFriends (pictured), has been appointed as the new CEO of Dreamus Company, the operator of the music platform FLO.
On December 15, Dreamus Company announced that it had held an extraordinary general meeting of shareholders and a board of directors meeting, appointing Lee Kiyoung as the new CEO. Lee will step down from his co-CEO position at BeMyFriends, the largest shareholder of Dreamus Company, and assume the role of CEO at Dreamus Company.
During his tenure as head of the SK Telecom music business task force, Lee led the planning and establishment of the overall music platform, music and album distribution, and concert business. In March 2019, he became CEO of Dreamus Company, leading FLO’s successful market entry and growth.
In 2021, he recognized the growth potential of BeMyFriends, then an early-stage startup in the fandom business, and made a strategic equity investment. He later moved to BeMyFriends as co-CEO, directly driving the growth of its fandom platform business.
Last month, following BeMyFriends’ acquisition of Dreamus Company, Lee returned as CEO of Dreamus Company. With Lee Kiyoung’s leadership, who has experience in both music and fandom platforms, the synergy between the two companies is expected to materialize rapidly.
Additionally, Seo Wooseok, CEO of BeMyFriends, and Kim Jaerin, Managing Director at SK Square, newly joined the board of directors as non-executive directors.
Seo Wooseok, CEO of BeMyFriends, is a fandom business expert who led Weverse Company under HYBE and successfully built the global fandom platform Weverse. Based on his proven fandom-based business strategies and global network, demonstrated through the global fandom platform b.stage, he is expected to contribute to Dreamus Company’s global market expansion.
Kim Jaerin, Managing Director, is an investment expert who has enhanced the corporate value of numerous portfolio companies and is expected to play an active role in formulating Dreamus Company’s growth strategies. As of today, Seo will also serve as chairman of the board.
With Lee’s appointment, Dreamus Company will reorganize its overall structure, including music platforms, music and album distribution, and concert businesses, and pursue aggressive investments.
The company plans to connect FLO with b.stage, providing a seamless experience that goes beyond music streaming to include purchasing favorite artists’ albums and merchandise, as well as attending desired concerts, thereby offering a continuous fandom journey. In addition, Dreamus Company intends to lead market growth in the IP business by providing production support and aggressive investment and collaboration for artists’ global expansion.
Lee stated, "We have completed the business value chain connecting music and fandom," adding, "Through bold investments and synergy with BeMyFriends, we will set a new standard in the global music market."
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