Korea University Study Finds Music Investment Platform Reflects Rational โขEconomic Judgments
SEOUL, SOUTH KOREA – A new studyโ published in Economics Letters by researchers at โคKorea University business โขSchool confirms the music investment platform, Music Cow, operates as โa financial marketโ driven by rational investmentโ decisions based on economicโ fundamentals, rather thanโค solely fan โคenthusiasm. the research, conducted by Ko Byung-wan (IS), โPark Jin-kwan (Treasury), and Kimโ Jae-hwanโข (Marketing), analyzed music securities pricingโฃ data and artist popularity indicators before and after the platform’s products were classified as securities under the Capital Market Law in 2022.
The study revealed that while music securities typically exhibit a “popularity โคpremium”โค linked too strongโข fandoms – reflecting โthe expectation of long-term royalty streams – price โsensitivity โขto market shocksโ increased after the regulatoryโข judgment. This suggests investors began evaluating securities based on economic factorsโข rather than emotional attachment,indicating a shift โtowards aโ more mature investment market.
“Contraryโข to someโฃ concerns about โคnew investment โขproducts,investors are making โreasonableโ decisions that are โnot much different from existing investment products,” โstated Professor Ko Byung-wanโข of Koreaโ University.”If โฃthe law and institutionโฃ are well supported so that reasonable โฃinvestors can โbe well protected, and theโ trading โฃhabitat โis โคfurther improved, new โขinvestmentโค products can be a catalyst to grow in the financial market.”
The findings demonstrate thatโฃ Musicโฃ Cow users are participating โfor โขgenuine investment purposes, moving beyond purely โfan-based activity.โ A Music โCow official โstated the company views the post-regulatory period as an “undervalued โphase” following โขa rational market reassessment and is currently โpreparing for formal regulatory approval. The research โขsupports โคthe platform’s functionโ as a legitimate trading โmarket for investment products.