Titan Content Inc., a U.S. based music agency focused on K-pop, sold roughly $12.9 million in equity in mid-April, according to Securities and Exchange Commission filings.
According to a Notice of Exempt Offering of Securities filed on April 14, Titan Content offered $20 million in equity, sold roughly $12.9 million and has around $7.1 million remaining. Thirteen undisclosed investors have participated in the offering.
Titan Content said that because their investors come from multiple markets, its Series A investment round is not over. The first closing was at the end in March and the company plans to announce its Series A in May.
Betting on K-pop’s success
Titan Content, a Santa Monica-based entertainment enterprise, is capitalizing on the worldwide phenomenon of K-pop – Korean pop bands that blend singing, dancing and online influencing into a multi-billion dollar franchise spanning albums, reality television shows, merchandise and even schools dedicated to young children who aspire to be one of the polished pop faces signing brand deals and charming fans all over the world, otherwise known as “idols.”
It’s difficult to distinguish what makes K-pop different from other genres popular in the U.S., but the formula of training and casting takes years and has evolved to be far more sophisticated than the method employed by boy- and girl-band makers on shows like “The X Factor.” Groups often include dedicated singers, rappers, dancers and “visuals” – those whose looks, aesthetics and charisma carry the group’s global celebrity.
Titan Content’s founders are a who’s who of K-pop. The chief executive, Katie Kang, has worked in the K-pop industry since 2000. Nikki Semin Han is the former chief executive of SM Entertainment, one of the largest K-pop incubators in the world. Guiom Lee, the chief visual officer, led the visual direction of several K-pop groups. Lia Kim, the chief performance officer, choreographs many of the viral performances from the wildly popular dance studio 1Million Dance Studio.
Among those involved in the offering include the aforementioned founders, as well as Joseph Bruzzesi, a board member at Titan Content who co-led the company’s seed round and led its series A round, per Bruzzesi’s LinkedIn. Bruzzesi is also a general partner at RW3 Ventures, which is focused on early-stage startups in the web3 and artificial intelligence space.
