RoK fandom business expands into Vietnam

BeMyFriends announced on August 26 that it had signed a strategic partnership agreement with MMusic and launched mfan, an integrated fandom platform for the Vietnamese market. The two sides unveiled the mfan platform and formalised their partnership at an event marking the fifth founding anniversary of MMusic.

Over the past five years, MMusic has built an ecosystem spanning music, artist development, cultural marketing, intellectual property (IP), live experiences and fandom business. The company has expanded its operations in Vietnam’s music and cultural markets by connecting artists, brands, IPs and fans across multiple touchpoints.

mfan is a platform built around the fandom ecosystem, creating direct connections among artists, IPs, content, experiences and fans. It helps artists maintain long-term relationships with their fans, thereby developing the fan community into a sustainable business model.

Under the partnership, BeMyFriends will provide global infrastructure, as well as technology and expertise in developing and operating fandom businesses based on its b.stage platform. Meanwhile, MMusic will take charge of market strategy and the development and operation of fandom businesses, leveraging its understanding of Vietnam’s music and cultural markets, industry network and local operational capabilities.

BeMyFriends CEO Seo U Seok said the partnership with MMusic would help build a platform enabling Vietnamese artists to own and grow their fandoms in their own ways.

By combining Korean fandom technology with MMusic’s network and operational capabilities in Vietnam, the two companies expect mfan to become a platform connecting artists and fans while expanding fandom-based business models in the Vietnamese market, he added.

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