All Entertainment Startup News in Korea (Korean Startup News)

MAKESTAR Doubles Revenue to KRW 95.6 Billion, Plans Global Boy Group Audition

2024-03-18 2 min read


MAKESTAR Doubles Revenue to KRW 95.6 Billion, Plans Global Boy Group Audition

Reading Time: 2 minutes

South Korea’s global entertainment platform, MAKESTAR, achieved KRW 95.6 billion in sales in 2023, marking a 100% growth compared to the previous year. MAKESTAR has doubled its revenue for five consecutive years, recording sales of KRW 4 billion in 2019, KRW 10.8 billion in 2020, KRW 29.7 billion in 2021, KRW 47.9 billion in 2022, and KRW 95.6 billion in 2023. Additionally, the company achieved an operating profit of KRW 3 billion.

Launched in 2015, MAKESTAR is a rapidly growing startup targeting both domestic and international K-pop  fandoms. As of 2023, it has established itself as a global entertainment platform, attracting visitors from 239 countries worldwide and generating sales in 185 countries, including the United States and Japan.

Furthermore, MAKESTAR has recently laid the groundwork for expanding into new business areas by planning the ‘pocaalbum,’ a new album format that has been gaining attention in the K-pop market. The company holds a leading position in the industry with innovations such as ‘Meet & Call,’ which combines in-person fan signing events with video calls, and being the first in the entertainment industry to introduce crowdfunding.

MAKESTAR has also been recognized for its exceptional planning capabilities across various genres. This includes releasing albums and photobooks for major artists like BLACKPINK, Red Velvet, and Stray Kids, as well as pioneering the global expansion of trot with artists like Lim Young Woong and Jeong Dong Won, including the release of pocaalbums by JS Entertainment.

Recently, MAKESTAR has taken on another challenge by announcing the organization of a global boy group audition. Titled “MAKE NEXT GLOBAL K-POP BOYGROUP AUDITION,” the program aims to select top artists with all preparations made by enlisting top K-pop experts. The boy group selected through this audition is set to debut in the second half of 2024.

[Korean Entertainment Startup News]

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