In an era where the digital age is deeply entwined with our daily lives, the art of fan engagement – aka “fandom” — has completely transformed. This evolution, magnified by FANTOO, the social networking platform for global fans, has ushered in a golden era for the art of fandom.
By definition, fandom is a group of people – all generations – who identify as part of a community of fans; individuals who are passionate about something. These shared common interests run the gamut from A to Z. And FANTOO from the media-tech company Hanryu Holdings. Inc. provides K-Fans across the world with space for fun and interaction.
“Fandom is the glue between television, film, music, and so many other interests. It does not just feed an audience, it arms it, expands it, and turns it into an effective media channel that further embeds the stories, the characters, and the tunes into the collective pop culture,” noted Mike Tankel, partner/optimist at the marketing and development firm To Be Continued. “Neither the recent pandemic nor the Hollywood strikes has kept fans away from the content they crave.”
“Without new content to consume the fans will simply go deeper into what they know and love. That is finding new connections, creating new fan theories and fiction, and getting closer to what fuels their interests,” he added.
Fandom and K-Culture
Fandom is nothing new. The original sci-fi drama Star Trek, which launched in 1966, is an early example of how fans unite to embrace a shared interest. Earlier, the origins of fandom are traced back to the late nineteenth century when readers of the classic literary franchise Sherlock Holmes held public demonstrations of mourning after the lead character was killed off in 1893. But it was rapper Psy’s hit single Gangnam Style in 2012 and, more recently, entries like the 2019 black comedy theatrical thriller Parasite and the Netflix survival drama Squid Game, that has magnified what we refer to as K-Culture, the catchall term for Korean entertainment. Everything from television, movies, music and online games to books, fashion, beauty and food, and more, that have become popular worldwide.
K-Culture refers specifically to the pop culture elements that have been exported around the world. And the Chinese term Hallyu (translated to Korean Wave) was coined to describe the global boom in Korean pop culture.
Naturally, this Korean Wave, and fandom overall, continues to benefit by the rise of social media and social networks (particularly during COVID, and now in the aftermath). This offers individuals across the globe more opportunities to find groups of like-minded people whom they can share and exchange their fandom.
A Growing Phenomenon
According to the Korea Foundation and the Korean Ministry of Foreign Affairs (“KMFA”), the number of K-Culture fans has increased from approximately 9.26 million in 2012 to 178 million in 2022. Leading factors behind this increase include the popularity of Korean video content on global platforms, as well as the number of Hallyu fan communities.
Korean pop culture, in fact, is so huge that it has spawned its own category of words: K-words.
FANTOO
Launched in 2021 for K-Culture enthusiasts across the world, FANTOO from Hanryu Holdings, which went public on August 1, was designed to connect Koran culture fans across the world. FANTOO is a digital platform in the form of a smartphone app that allows fans to create their own clubs and communities, chat with each other, and create content to share and sell. There is also a revenue share model with its users that enables fans to get rewarded for their participation.
Specifically, fans unite on the FANTOO platform, where they create and exchange themed content, monetize their creations, buy and sell merchandise from fan shops, launch advertising campaigns, and communicate via messenger.
Through FANTOO, users interact with other like-minded users to share their appreciation of various types of entertainment to experience a “fandom” community. It provides the ability for multi-lingual translation across 17 languages (including English, Korean, Japanese, and Spanish). Specifically, this allows the users to communicate more easily worldwide through sharing content on K-Culture in their own language and having this content translated immediately.
Hanryu Holdings generates revenue through direct sales, transaction fees, user-created content, merchandise, and live shows streamed on the platforms. And the company also plans to expand its focus to the United States and, ultimately, throughout Europe. Recently, Hanryu announced a partnership with the women’s clothing line Papaya to sell FANTOO-branded merchandise in the United States.
Operating in over 150 countries, FANTOO has accumulated over 26 million users, including over 1.5 million active monthly users, who are fans of the Korean K-Pop wave.
“There are no limits and boundaries for fandom, so there is unlimited potential and possibilities for fandom. The fandom market is still in the beginning stage,” said Dong-hoon Park, Hanryu’s Chief Marketing Officer in a statement last year. “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.
“With catchy tunes and lyrics, and fresh young faces, it seems that K-Pop is simply representative of pop itself, just well-executed by Korean talent,” noted Mike Tankel. “The inviting global nature of K-Pop allows it to readily cross borders, transcend cultures, and make a true positive impact throughout the world.”
Looking Ahead
On August 9th, Hanryu Holdings unveiled version 2.0 of FANTOO, which provides additional pathways for revenue generation by both users and brands. Shortly later, Hanryu partnered with Saltlux and AISUL, an expert in AI and Big Data technology in Korea. to incorporate the company’s AI-powered conversational virtual assistant to enhance user engagement with Talkbot, an intelligent chatbot, onto the FANTOO application. The Saltlux and AISUL technologies will be applied to the upcoming personalized AI assistant service within this year and will include personal AI and Club AI, offering customized services based on user personality and lifestyle analysis.
“We are pleased to partner with Saltlux and AISUL to integrate AI into FANTOO,” said Chang-Hyak Kang, CEO and Director of Hanryu Holdings in a statement. “This advanced technology will provide our loyal userbase with an enhanced experience on FANTOO. Launching our conversational virtual assistant is the beginning of AI capabilities on our platform.”
FANTOO also plans to open “Club Chat Rooms” where like-minded members of various clubs can engage in real-time conversations. Through the “Club Chat Room” on the FANTOO application, global users can communicate without language or national barriers, exchanging interests in real-time.
Additionally, FANTOO is expanding through organic fandom and AI. It is launching a metaverse version of the app where users can meet and explore the platform in virtual reality.
“Fandom, no doubt, continues to evolve with today’s ever-consuming digital landscape, bringing fans closer to talent, experiences and each other through their collective shared interests,” noted Mike Tankel. “With a social-themed application like FANTOO, we can truly expect the experience to accelerate.
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