Dreamus
South Korean electronics and entertainment firm, parent of iRiver and FLO.
Dreamus, an electronics and entertainment firm, began in 1999 under the name ReignCom. Its headquarters are now in South Korea, having previously been in the United States. The company owns several South Korean brands and divisions: iRiver, Astell & Kern, and FLO, as well as Funcake Entertainment Services. Once a subsidiary of SK Telecom while it was still called iRiver, Dreamus later became a subsidiary of SK Square after SK Telecom spun off its investment arm in 2021.
Seven former Samsung executives founded the company in 1999, and it went public on the KOSDAQ in 2003. Co-founder Duk-Jun Yang became CEO. In May 2006, ReignCom announced a shift toward handheld mobile gaming, following poor sales in its music player business. The company reported a loss of 35.58 billion won (US$36.68 million) in 2005, compared to a net profit of 43.46 billion won in 2004. ReignCom changed its name to iRiver in 2009, and SK Telecom acquired it for 30 billion won in August 2014.
The company entered the music streaming market in January 2015 with the launch of Music Mate. In July 2017, SM Entertainment bought a stake in iRiver, becoming its second-largest shareholder. On January 31, 2018, SK Telecom, SM Entertainment, JYP Entertainment, and Hybe Corporation (then Big Hit Entertainment) announced a joint venture to create a B2B music distribution and B2C music service. Starting February 1, 2018, iRiver began distributing albums and digital music for JYP and Big Hit. Hybe later ended this partnership on January 27, 2021, moving to a distribution deal with YG Plus. On December 11, 2018, the company rebranded Music Mate as FLO. On March 28, 2019, iRiver renamed itself Dreamus Company. On November 18, 2021, Dreamus partnered with entertainment agency RBW and FLO through an exclusive performance contract, acquiring a 2.04% stake in RBW. On November 29, 2021, SK Telecom spun off SK Square, making Dreamus a subsidiary of SK Square.
As of 2024, Dreamus distributes music for numerous labels.
Quick Facts
- Former Name
- ReignCom / iRiver
- Traded As
- 060570
- Industry
- Consumer electronics / Music
- Founded
- 1999-01-20
- Founder
- Yang Duk-jun · ko · 양덕준 and six others
- Hq Location
- iRiver House, 5 Bangbae-ro 18-gil, Bangbae-dong, Seocho-gu, Seoul, South Korea
- Area Served
- Worldwide
- Key People
- Lee Ki-young (CEO)
- Revenue
- 225 · b
- Revenue Year
- 2025
- Operating Income
- 593 · m
- Net Income
- 2.6 · b
Facts from the source article.
Reader's Guide
Dreamus, originally ReignCom and later iRiver, is a South Korean electronics and entertainment company that transitioned from hardware (music players) to music distribution and streaming. Its significance lies in its role as a key distributor for major K-pop agencies, including SM Entertainment, JYP Entertainment, and formerly Hybe Corporation. The launch of the FLO streaming platform in 2018 positioned Dreamus as a competitor in the South Korean music streaming market. The company's history reflects the consolidation of entertainment and technology in South Korea, with SK Telecom as a former parent and later SK Square. Its current affiliation with bemyfriends, operator of fandom platform b.stage, indicates a shift toward fan engagement services. Dreamus's legacy includes bridging electronics manufacturing with digital music services, and its distribution network has been central to the global reach of K-pop.
Did You Know?
- Dreamus was founded in 1999 by seven former Samsung executives.
- The company was originally named ReignCom and renamed iRiver in 2009, then Dreamus in 2019.
- Dreamus owns a 2.04% stake in entertainment agency RBW as of November 2021.
Frequently Asked Questions
What is Dreamus?
Dreamus is a South Korean electronics and entertainment company that acts as the parent organization behind brands like iRiver, Astell & Kern, and the FLO music streaming service. It also handles music distribution for major K-pop agencies including JYP Entertainment and SM Entertainment.
What brands and services does Dreamus own?
The company oversees iRiver, Astell & Kern, FLO, and Funcake Entertainment Services, spanning consumer audio hardware, music streaming, and entertainment. These divisions collectively cover everything from portable players to digital music distribution.
How is Dreamus linked to SK Telecom?
During its earlier iRiver era, Dreamus operated as a subsidiary of SK Telecom. After SK Telecom reorganized and spun off its investment arm in 2021, Dreamus shifted to become a subsidiary of SK Square.
How did Dreamus get started?
Seven former Samsung executives founded the company in 1999 under the original name ReignCom. It later rebranded to Dreamus and went public on the KOSDAQ exchange in 2003.
Why does Dreamus matter to K-pop fans?
Beyond its hardware and streaming brands, Dreamus sits behind the scenes on music distribution for two of the industry's biggest agencies, JYP and SM. That means many K-pop releases fans stream or buy flow through Dreamus's infrastructure.
More in South Korean record labels 1-24
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