From setting up a company, recruiting trainees, and completing tens of millions of Pre-A rounds of financing from Sequoia Capital of China Fund and Zhenge Fund, Kunyin Entertainment has only spent more than two years through the “Idol” boom. Before starting the “Idol Producer”, the company also received millions of angel round financing from Fengrui Capital. It is reported that this round of financing will be used to expand the company team, improve the training system for trainees, and prepare announcement of music works.
Although the amount of financing has not be revealed, in the interview with Duojiaoyutou Entertainment, Ni Lishi, a partner of Kunyin Entertainment, once said that the round of financing intention of Kunyin Pre-A is not less than 30 million, 10% is open. The investment share has reached more than 300 million.
On April 16th, Kun Yin Entertainment’s men’s idol group “Kun Yin Four” announced that it would be debuted in the name of ONER. According to the official, the formal debut of the group will be held in August. Before that, a fan meeting will be held in Beijing in May.
Though, “Kun Yin Four” did not get the chance to be one of the nine during the program called “ Idol Producer”, this program has brought a huge boost to it. It is reported that the new album of the combination is currently under the preparation, and resources in various fields of endorsement, fashion and film have been found.
In addition to the artist’s own commercial endorsements, performances, fan economy, and business activities, Kunyin’s profit sources include commercial performances, music production, and copyright revenue. Over the past year, Kunyin has invested nearly 10 million in BC221, 70% of which is spent on training, and 30% on music album production and promotion. In order to further create music works, Kun Yin is also signing a young music producer.
Running the industrial chain of idols similar to SM and YG is the goal of Kunyin. In addition to incubation, training, launching the market, and issuing. In the future, it is also planned to integrate the margin, ranking and crowdfunding into the company’s business segment. In addition, it is noted that overseas market expansion is also the company’s next key task. In addition to synchronizing artist content to social media such as Instagram, Twitter and Facebook, the Kunyin may set up an office overseas in the future.
In addition, in order to develop a variety of content forms, to update of the daily artist video, maintain the official fan base, then Kunyin also has plans to develop fan-specific APP. However, for the direction of film and television dramas, unless it is particularly suitable, Kunyin will not consider getting involved for now.
The entry of iQiyi and Tencent Music Entertainment this year has brought new opportunities for the idol industry that has been in the period of stagnation. It is an excellent platform to support the content provider. The idol group’s star-making is getting better and better, and the emergence of top groups may already be mentioned and it could be on the agenda.
Translated by Meiling Liu
Copyright © 2015 China Music Business News