Accord Entertainment, the agency of virtual boy group Miracle (MY:RAKL), raised pre-Series A (Pre-A) funding totaling 2 billion won, once again demonstrating exceptional growth potential in the virtual entertainment market.
This round included strategic investments from Smilegate, CNTTech, and SM Culture Partners. Investors are reported to have highly evaluated the growth potential of the virtual artist IP owned by Accord Entertainment, its differentiated content planning, solid production capabilities, and its potential to expand into the global K-pop market.
Accord Entertainment is developing a diverse IP business encompassing music, worldbuilding, live content and fan communities, led by its own virtual IP "Miracle." With differentiated planning and a steady release of original content, it has rapidly expanded its fandom and is solidifying its competitiveness within the virtual market.
Based on this investment, the agency plans to further sophisticate its virtual production system and actively proceed with new content production, global fandom expansion and development of next-generation virtual projects. It plans to expand its business into various digital IP areas beyond music and content and begin a full-scale leap toward becoming a global virtual entertainment corporation.
Accord Entertainment CEO Choi Ji-e said, "The virtual content market is an industry where IP itself ultimately becomes a powerful competitive advantage beyond technology," adding, "This investment is the result of recognition of Accord Entertainment's IP competitiveness and growth potential. We will continue to further sophisticate our own IP and establish ourselves as a distinctive global virtual entertainment corporation."
Meanwhile, Accord Entertainment's Miracle (MY:RAKL) is an actively performing virtual boy group based on the concept "an idol restarting from debut" and the unique worldbuilding "Make Your Reality A Kismet Legacy." Through their monthly music project Miracle the Series (MY:RAKL THE SERIES), they are expanding their own musical spectrum, and recently released the digital single "Awkward Voyage Log" to communicate with fans.<
[Photo] Accord Entertainment
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