Seven institutional investors, including Stonebridge Ventures, completed an investment of 18 billion won in the Series A round of entertainment technology corporation BigK on the 13th.
As a result, BigK's cumulative investment amount has increased to 33 billion won. A representative of BigK noted, "The large-scale 18 billion won Series A round that began in April of this year was led by Stonebridge Ventures and Bon Angels Venture Partners, with NextTrans, Now Ivy Capital, Hana Ventures, IBK, and ALOYS participating, successfully concluding in August."
BigK operates an "All-in-one Digital Venue" platform that connects artists with fans worldwide. Primarily focused on K-pop and culture concerts, it offers key services for the online monetization of performances and artists' intellectual properties (IP), including ▲ ticket booking ▲ artificial intelligence (AI) based live streaming ▲ fan interaction services ▲ online video service (OTT) ▲ global commerce ▲ and fan data analysis. To date, it has partnered with about 130 K-pop musicians and artists, including domestic leading media companies, and has recently expanded its categories to include J-pop, world-class top artists, and festival IP.
Through this, BigK has been providing services in 224 countries within just two years of launching its service. The number of cumulative membership subscribers has surpassed 1.1 million. Of these, about 80% are overseas users, continuing to focus on global expansion in Japan, the Chinese-speaking regions, and North America. This year, the number of BigK membership users has increased 13-fold, with average revenue growing about five times compared to the same period last year, and the average quarterly growth rate over the past six quarters reaching 48%.
Lee Jong-hyun, executive director of Stonebridge Ventures, stated, "In the rapidly growing K-entertainment market worldwide, BigK's 'All-in-one Digital Venue' will become the next-generation entertainment technology standard that breaks down the barriers between offline and online." He added, "I am confident that this investment will be a turning point that shifts the dynamics of the global market."