On Oct. 27, CEO of Beat Packing Company Su-man Park announced that the company reached more than one million subscribers, of which 62% being active users.
Beat Packing Company, which provides Korea’s first streaming radio service, operates Beat, a free music player application that allows users to listen to music with their smartphones.
Having launched Beat only seven months ago, the company has achieved a remarkable feat, with the number of users increasing on average 300% by month. Last month, more than 620,000 users listened to music via Beat on a daily basis. Beat also has high customer loyalty, with more than 40% of new users revisiting the app within two months. Currently the company is making money through ads.
Beat was able to rapidly capture the mobile music market due to its wide array of innovative features, including personalization capabilities. Users can conveniently make their own lists of music by finding their favorite songs in Beat’s extensive database, which has more than 150 million registered songs available for live streaming. Users can also listen to mixes made by featured DJs and KPop celebrities.
In addition, Beat hosts social features that allow users to listen to music with their friends, simultaneously, to view what their friends are listening to, and to share playlists with other users.
Many famous singers and musicians in Korea also use Beat as a platform to advertise their music. Through the app, they can pre-record radio shows and save them onto their personalized channels. Singers and musicians can also interact with their fans by directly advertising their music or explaining motifs and meanings behind their music to their fans.
Currently, famous musicians who actively use Beat include Akdong Musician, CNBLUE, Kiha Chang, WINNER, Dalbit Oksang and popular Radio DJs. In the near future, some other popular musicians such as Jong-shin Yoon and 10cm are planning to join Beat’s radio services.
Beat Packing Company aims to bring K-Pop culture to the world through its online music streaming services.
“We are focusing on collecting listener data and customer interviews at this moment,” Park explained.
“Then we will assess the users’ patterns and behaviors, related to their tastes of K-Pop music, thereby allowing us to optimize our services according to what users really want. The next stage would be to take Beat Packing Company global.”
The CEO confidently stated that he expects that these types of services for artists and record labels could become a business model in the future.