1 million monthly active paid subscribers, 5.5 million cumulative members… Superfan-based business model established.
– Recording annual GMV of 80 billion won, establishing a comprehensive revenue generation structure through "Fandom Business 360."
– Continued growth in overseas markets with 70% of global users
Global fandom platform b.stage surpassed 1 million monthly active paid subscribers and 5.5 million cumulative members in December, demonstrating the scalability of its superfan-based business model. Furthermore, based on a platform structure that connects fan experiences with commerce, the platform is showing steady growth, with annual gross merchandise value (GMV) expected to surpass 80 billion won by 2025.
This growth was largely driven by the launch of non-Stage-based fan platforms for major domestic and international IPs, including G-Dragon, Son Heung-min, and "K-Pop Demon Hunters," and the expansion of new services throughout 2025. In particular, the expansion of membership services and the "POP" service, a real-time two-way communication feature, not only enabled global fans to interact more closely with IPs through non-Stage, but also led to an increase in paid conversion rates.
BSTAGE supports IP owners in expanding their relationships with superfans into long-term businesses based on its "Fandom Business 360" service, which connects all aspects of fandom activities—from membership subscriptions and real-time two-way communication to global commerce, data analysis, and targeted marketing—into a single ecosystem. This structure has led to rapid growth in paid subscribers, and the superfan-based revenue model is considered to have entered a phase of stable growth.
By 2025, the annual gross merchandise volume (GMV) based on non-Stage platforms exceeded 80 billion won. This growth was driven by a diversified portfolio that included membership subscriptions, digital content, merchandise and merchandise sales, pop-up stores, and ticket and event integrations. This demonstrates the established Superfan business structure, where fan activity directly translates to profits, and is considered a metric that validates the market competitiveness of the non-Stage-based fandom business model.
Global market expansion is also notable. Currently, approximately 70% of all Bstage users are international, and the influx of global fandom, particularly from the US, Japan, and Asia, continues to grow. Fandoms across diverse fields, including K-pop, esports, musicals, sports, and content IP, will operate on Bstage. Bstage's operator, Be My Friends, has established itself as a global infrastructure enabling IP owners around the world to develop superfan businesses.
Building on these achievements, Be My Friends will solidify its position as a global superfan business infrastructure company by 2026. Drawing on the expertise accumulated through building over 350 fan platforms and collaborating with over 1,000 artists, Be My Friends will support the establishment of a superfan economy across all industries, beyond K-pop. Furthermore, the company is also pursuing the expansion of its fandom business expertise into emerging markets such as India. Beyond IT platforms, the company will continue to launch official pop-ups, such as Netflix's "K-Pop Demon Hunters" and Japanese idol group "Snowman," and accelerate the expansion of its infrastructure-based superfan business model through global IP-based businesses such as merchandise and characters.
Seo Woo-seok, CEO of Bimai Friends, said, “Through B-Stage, we have achieved 1 million monthly active paid subscribers and 80 billion won in total annual transactions, proving that the super fan business model actually works in the global market.” He added, “Based on this verification, we will make a full-fledged leap forward as a global super fan business infrastructure company that will provide all the necessary infrastructure to enable any IP in the world to start and grow a super fan business by 2026.”
He continued, “We are providing a comprehensive ‘Fandom Business 360’ service from community to commerce, data analysis, target marketing, and advertising, and through synergy with our subsidiary Dreamus Company, we are proving a super fan business model specialized in the music industry,” and emphasized, “We will expand the super fan business know-how that started in K-POP to all industries around the world.”
Meanwhile, B My Friends, the operator of B Stage, has acquired Dreamus Company (060570), which operates the music streaming platform FLO, to expand its fandom business ecosystem encompassing music, performances, MD, and fandom platforms. B My Friends plans to further enhance the service linkage between B Stage and FLO in the future and build an integrated fandom ecosystem that connects music, performances, MD, and fandom platforms, thereby further expanding its competitiveness in the market.
You must be logged in to post a comment.