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.
History
Seven former
Samsung executives created the company in 1999 and made its
IPO
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
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.
In August 2014, SK Telecom acquired iRiver for 30 billion won.
Entry into music
In January 2015, music streaming platform Music Mate was launched.
On July 17, 2017 SM Entertainment acquired a stake in iRiver and became the second largest shareholder.
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
Direct-to-consumer (DTC) or business-to-consumer (B2C) is the business model of selling products directly to customers and thereby bypassing any third-party retailers, wholesalers, or any other middlemen. Direct-to-consumer sales are usually tr ...
music service platform. As part of this agreement, beginning from February 1, iRiver would distribute JYP and Big Hit’s album and digital music contents. HYBE would later go on to strike a distribution deal with
YG Plus in January 27, 2021 hence no longer partnering with Dreamus.
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'.
On March 28, 2019, iRiver announced that they would renamed to Dreamus Company.
On November 18, 2021 Dreamus partnered with entertainment agency
RBW and FLO and signed an exclusive performarce partnership contract, with this Dreamus owns a 2.04% stake in RBW.
On November 29, 2021 SK Telecom who were originally Dreamus' parent company spun off SK Square and re-organized their structure, so that they became a SK Square subsidiary.
Distributed labels
Current
;South Korea
As of March 2022:
*
SM Entertainment
**
Label SJ
** Million Market
**
Mystic Story
Mystic Story (formerly Mystic Entertainment, , abbreviated as MSTSTR) is a South Korean entertainment company established by South Korean singer-songwriter Yoon Jong-shin. It has four subsidiaries, including Mystic Actors (formerly Family Actors ...
(select releases only; co-distributed with
Kakao Entertainment)
**
Woollim Entertainment (select releases only; co-distributed with
Kakao Entertainment)
*
JYP Entertainment
**
Studio J
** SQU4D
* P Nation (co-distributed with
Kakao Entertainment,
Genie Music and
Stone Music Entertainment)
* NUPLAY
*
Blue Vinyl
* IOK Music
** 131 Label
* Moss Music
;International
*
Avex Inc.
*
Johnny & Associates
**
J Storm
is a Japanese music and film company owned by Johnny & Associates. It was established on November 12, 2001, initially as a label for the Johnny's group, Arashi, after which it was named.
Aside from producing and releasing CDs and DVDs, the co ...
*
SM Entertainment
** Label V
Former
*
Hybe Corporation (moved to
YG Plus)
**
Big Hit Music
**
Pledis Entertainment
Pledis Entertainment () is a South Korean entertainment company founded by Han Sung-Soo in 2007. The label is home to actress Nana, Hwang Min-hyun, Baekho, and K-pop groups Seventeen and Fromis 9. Its name originates from the pleiades, a star cl ...
Notes
References
External links
*
*
{{Authority control
Electronics companies of South Korea
Entertainment companies of South Korea
South Korean record labels
SK Group subsidiaries