Dreamus Explained

Dreamus Company
Native Name:(주)드림어스컴퍼니
Native Name Lang:ko
Former Name:ReignCom
iRiver
Type:Public
Industry:Consumer electronics
Music[1]
Founder:Yang Duk-jun
Hq Location:iRiver House, 5 Bangbae-ro 18-gil, Bangbae-dong, Seocho-gu, Seoul, South Korea
Area Served:Worldwide
Key People:Lee Ki-young (CEO)
Revenue: US$51,649[2]
Operating Income: US$280
Income Year:2015
Net Income: US$589
Net Income Year:2015
Assets: US$56,081
Assets Year:2015
Parent:SK Square (SK Telecom)
Divisions:
Subsid:
  • Astell & Kern
  • Yurion
  • Funcake Entertainment Services

Dreamus is an electronics and entertainment company founded in 1999 originally as ReignCom. Currently headquartered in South Korea (and formerly in the United States), it is the parent company of South Korean-based iRiver, Astell & Kern and FLO, as well as Yurion and Funcake Entertainment Services. Since 2014, it has been a subsidiary of SK Telecom when it was formerly known as iRiver.[4]

History

Seven former Samsung executives created the company in 1999 and made its IPO on the KOSDAQ, a Korean stock exchange, in 2003. Duk-Jun Yang, one of the founders, became the CEO of the company.

ReignCom announced in May 2006 that it would adjust its focus toward handheld mobile gaming. It has reported sluggish sales for its music player business, including a loss of 35.58 billion (US$36.68 million) in 2005, compared with a net profit of 43.46 billion in 2004.

In 2009, ReignCom was renamed as iRiver.[5]

In August 2014, SK Telecom acquired iRiver for 30 billion won.[6]

Entry into music

In January 2015, music streaming platform Music Mate was launched.[7]

On July 17, 2017 SM Entertainment acquired a stake in iRiver and became the second largest shareholder.[8]

On January 31, 2018, it was announced that, parent company SK Telecom along with entertainment agencies SM Entertainment, JYP Entertainment, and Hybe Corporation (formerly known as Bighit Entertainment) would collaborate and launch a B2B music distribution and a B2C music service platform.[9] [10] As part of this agreement, beginning from February 1, iRiver would distribute JYP and Big Hit’s album and digital music contents.[11] HYBE would later go on to strike a distribution deal with YG Plus in January 27, 2021 hence no longer partnering with Dreamus.[12]

On December 11, 2018 it was announced that the company will update and rename the existing music streaming service 'Music Mate' to the new music platform 'FLO'.[6]

On March 28, 2019, iRiver announced that they would rename to Dreamus Company.[13]

On November 18, 2021 Dreamus partnered with entertainment agency RBW and FLO and signed an exclusive performance partnership contract, with this Dreamus owns a 2.04% stake in RBW.[14]

On November 29, 2021 SK Telecom, originally Dreamus' parent company, created and spun off SK Square, with Dreamus becoming a subsidiary of SK Square.[15]

Distributed labels

Current

South KoreaAs of 2024:
International

Former

Notes and References

  1. Web site: SKT readying new music service with K-pop heavyweights. January 31, 2018. The Korea Herald. February 24, 2018. November 11, 2020. https://web.archive.org/web/20201111235316/http://www.koreaherald.com/view.php?ud=20180131000775. live.
  2. Web site: iRiver. Yahoo Finance. August 30, 2016. September 20, 2016. https://web.archive.org/web/20160920204724/http://finance.yahoo.com/quote/060570.KQ?ltr=1. live.
  3. Web site: Iriver Global - Contact Info. Iriver Global. April 24, 2018. June 25, 2018. https://web.archive.org/web/20180625185935/https://www.iriver.com/company/contact.asp. live.
  4. Web site: 강 . 윤승 . 2014-06-25 . SK Telecom to acquire Iriver for 29.5 bln won . 2022-11-08 . . en . November 8, 2022 . https://web.archive.org/web/20221108174805/https://en.yna.co.kr/view/AEN20140625005100320 . live .
  5. Web site: Silver. Stephen. iriver's parent company, Reigncom, Ltd., has announced that it will change it name to iriver, Ltd., and also name a new CEO. June 15, 2020. Dealerscope. en. September 3, 2019. https://web.archive.org/web/20190903144141/https://www.dealerscope.com/article/irivers-parent-company-reigncom-ltd-has-announced-change-name-iriver-ltd-also-name-new-ceo-405748/. live.
  6. Web site: 2021-05-18 . SKT가 인수한 '옛 아이리버' 적자 탈출 . 2022-11-09 . . ko . November 8, 2022 . https://web.archive.org/web/20221108175150/https://www.hankyung.com/it/article/2021051866611 . live .
  7. Web site: 2021-05-18 . SKT가 인수한 '옛 아이리버' 적자 탈출 . 2022-11-08 . . ko . November 8, 2022 . https://web.archive.org/web/20221108175150/https://www.hankyung.com/it/article/2021051866611 . live .
  8. Web site: 2017-07-17 . SM엔터, 아이리버 2대 주주 등극…'글로벌 콘텐츠 시장 본격 공략' . 2022-11-08 . 서울경제 . ko . November 8, 2022 . https://web.archive.org/web/20221108174805/https://www.sedaily.com/NewsView/1OIIDB8KM5/GD0501 . live .
  9. Web site: FLO | 지금 당신의 음악, 플로. www.music-flo.com. Dreamus Company. March 13, 2021. April 16, 2019. https://web.archive.org/web/20190416121204/http://www.music-flo.com/. live.
  10. Web site: 윤 . 상근 . SM·JYP·빅히트, 음악콘텐츠 사업 공동 추진한다(공식) . 2022-11-08 . entertain.naver.com . ko . November 8, 2022 . https://web.archive.org/web/20221108174805/https://entertain.naver.com/now/read?oid=108&aid=0002676680 . live .
  11. Web site: 2018-01-31 . SM, JYP, And Big Hit To Launch Joint Music Enterprise . 2022-11-08 . . en . November 8, 2022 . https://web.archive.org/web/20221108174802/https://www.soompi.com/article/1117157wpp/sm-jyp-big-hit-launch-joint-music-enterprise . live .
  12. Web site: Frater . Patrick . 2021-01-27 . BTS Agency Big Hit Entertainment to Invest $63 Million in Rival YG . 2022-11-08 . Variety . en-US . January 27, 2021 . https://web.archive.org/web/20210127115651/https://variety.com/2021/biz/asia/bts-agency-big-hit-entertainment-invest-in-yg-1234893216/ . live .
  13. Web site: 아이리버, '드림어스컴퍼니'로 사명 변경…새대표에 이기영씨. Naver News. May 1, 2019. May 1, 2019. https://web.archive.org/web/20190501132849/https://n.news.naver.com/article/001/0010726293. live.
  14. Web site: 플로, RBW와 공연 파트너십 계약 체결…"다양한 협업" . 2022-11-11 . inews24 . ko . November 11, 2022 . https://web.archive.org/web/20221111043328/https://m.joynews24.com/v/1423853 . live .
  15. Web site: Yonhap . 2021-11-01 . SK Telecom names new CEO following non-telecom spinoff . 2022-11-11 . . en . November 11, 2022 . https://web.archive.org/web/20221111040643/https://www.koreaherald.com/view.php?ud=20211101000714 . live .
  16. ℗ 2019 P NATION, under license to Dreamus (CRUSH - NAPPA on Apple Music)
  17. Web site: 신나라레코드 . ko . Synnara.co.kr . July 13, 2015 . March 13, 2021 . July 12, 2020 . https://web.archive.org/web/20200712024541/https://www.synnara.co.kr/sp/sp120Main.do?categoryId=CT22101001&productId=P000431045#.XwnAMXUzYfw . live .
  18. Web site: 호피폴라, 드림어스컴퍼니·모스뮤직과 손잡고 컴백. April 9, 2020. 김수경. 한국경제. ko. August 29, 2021. April 12, 2020. https://web.archive.org/web/20200412103246/https://www.hankyung.com/entertainment/article/2020040981454. live.
  19. Web site: 드림어스컴퍼니 . www.dreamuscompany.com . ko.
  20. Web site: Frater. Patrick. January 27, 2021. BTS Agency Big Hit Entertainment to Invest $63 Million in Rival YG. March 18, 2021. Variety. January 27, 2021. https://web.archive.org/web/20210127115651/https://variety.com/2021/biz/asia/bts-agency-big-hit-entertainment-invest-in-yg-1234893216/. live.