[VC Investment Company] Modhaus, Balanced Growth in Entertainment and Platform Sectors… Aiming for 17 Billion Won in Revenue

Achieved Monthly Profit in July, Platform Sales Expected to Reach 7 Billion Won… Interest in tripleS’ Japan Debut

Reporter: Lee Young-ah | Published: 2024-10-08 09:11:05 This article was first published on The Bell’s paid page on September 20, 2024, at 14:32.

Modhaus, known as the agency behind the idol group tripleS, is projected to achieve 17 billion won in revenue this year. Since its establishment in 2021, it has experienced rapid growth, balancing both management and platform business ventures.

According to the venture capital (VC) industry on the 20th, Modhaus is expected to reach 17 billion won (12 Million Dollar) in sales this year. Baek Kwang-hyun, Vice CEO of Modhaus, stated, “We successfully turned a profit for the first time in July and expect to generate around 10 billion won (7 million dollars) from management and 7 billion won (5 million dollars) from platform sales.”

Modhaus, founded in 2021, is a startup led by CEO Jeong Byung-gi, (Jaden Jeong) a renowned producer who has worked with Wonder Girls, 2PM, Lovelyz, INFINITE, LOONA, and Heize. The company has focused on the K-pop market, with a key business item being its ‘fan-participating idol’ project.

IMG_3427.jpeg

Last year, Modhaus successfully debuted the idol group tripleS, which brought fresh energy to the industry. TripleS is a multinational girl group with 24 members. It’s a fan-participatory group where fans influence important aspects of content production, such as concept, title songs, and unit formation.

Through its self-developed platform ‘COSMO,’ Modhaus enables fans to actively participate in key decisions regarding idol group operations. Fans can purchase digital photocards on COSMO and use them to earn blockchain-based tokens, allowing them to vote on artists’ activities.

This structure creates synergy between the management and platform businesses. By expanding intellectual property (IP) through the artist management business and strengthening fandom engagement and purchasing power through the platform, Modhaus maintains a balanced revenue stream between the two.