Popular Fan App Celebrates Korean Popular Culture with a Global Audience
LOS ANGELES, CA / ACCESSWIRE / June 3, 2022 / Hanryu Holdings, Inc. (“Hanryu”) announced today that FANTOO, Hanryu’s fandom digital app, has reached the milestone of 2 million users only 9 months since its launch.
Sponsored content:
FANTOO is a digital platform for fans in the form of a smartphone app that brings the global community of Korean pop culture (“K-Culture”) together to chat, create, interact, and enjoy a wide variety of online activities to express their love of K-Culture. Launched in August 2021, FANTOO allows fans to create their own clubs and communities, chat with each other, and create content to share and sell. FANTOO features a system that enables fans to get rewarded for their participation and content creators to get paid for their work.
FANTOO launched in August 2021 with 12,000 users, a number that grew by a factor of 20 by December 2021. The number of users grew exponentially in the first two quarters of 2022 and reached 2 million at the end of May.
“The power of fandom is one of the most impactful phenomena of the 21st century,” said Tae-hoon Kim, Hanryu’s Chief Technology Officer. “Fans drive commerce and culture. Studies have shown fans are seven times more likely than regular consumers to purchase and support the brands connected to their fandom. With the global success of Korean films such as Parasite and Squid Game, as well as the enduring popularity of K-Pop bands like BTS, we believe the worldwide interest in K-Culture is exploding. And while 2 million users is a prodigious benchmark, we believe the best is yet to come.”
The Korean cultural influence was ranked No. 7 worldwide in 2021, according to JTBC. K-Culture has been widely influencing the world with significant and sustainable growth in its market size. According to the 2020 Global Korean Wave Status Summary and the 2020 UNWTO Tourism Barometer, the current purchasing power of K-Culture is $6.7 billion, and K-Culture tourism amounts to $21.6 billion. The number of K-Culture fans grew about 300% from 2015 to 2021 according to studies by The Korean Economic TV. FANTOO seeks to expand and capitalize on this “Fandustry” by connecting the current fan base with one another.
Sponsored content: OurLifeStore.com is a veteran owned e-commerce with over 40k items at great prices & always free shipping
About Hanryu Holdings Inc.
Hanryu was established in 2018 as Hanryu Bank Co., Ltd, in the Republic of South Korea, aiming to spread K-Culture (Hanryu) across the globe. In 2021, Hanryu launched FANTOO, an all-in-one fandom platform. FANTOO connects users who share the same interest, particularly K-Culture, by providing communication, content creation, and e-commerce services. Through these experiences, FANTOO users can stay connected and up to date with their fandom communities.
About FANTOO
FANTOO is a social networking platform for global fans of K-Culture, with a suite of features and functionalities built to engage K-Culture fans and keep them engaged through its comprehensive services, fair and efficient rewards system, and various fan events. Fans can socialize and get up-to-date news and information in the communities, create their own clubs to bond with others who share common interests, live chat with each other in different languages, as well as create, share, and sell content to other fans. Fantoo is part of the next generation of digital fandom apps designed to become part of the global fan economy.
Investor Contact:
Dave Gentry, CEO
RedChip Companies Inc.
407-491-4498
[email protected]
Hanryu Holdings, Inc. Contact:
Ahra Cho
[email protected]
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain “forward-looking statements” for the purpose of providing information about management’s current expectations and plans relating to the future. Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the ability of Hanryu to continue increasing its user-base; and Hanryu’s ability to monetize its user-base. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Hanryu disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Hanryu Holdings
View source version on accesswire.com:
https://www.accesswire.com/703817/K-Culture-Fan-Platform-FANTOO-Reaches-2-Million-Users