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Musicow

  • Invest and own music you love with supporting music ecosystem. World’s First Copyright Share Platform, MUSICOW makes K-POP good cycle ecosystem by sharing royalty with artists, fans and investors and supporting creators. In K-POP music market, most of people do not ‘own’ music but just ‘approach’ and listen the streaming. That’s why the share for creators is not enough that the music market is less active than the advanced countries. So now MUSICOW comes for making better music ecosystem! Make ‘Value’ of good cycle ‘Together’ MUSICOW creates much bigger value of music through copyright auction with creators, fans and investors. They share copyright with raising the price through auction and the creators can receive 50% of the payment directly right after the auction. The rest of it is used to support K-POP ecosystem. Therefore, the participants of auction own the music and receive the revenue it generates to contribute K-POP music ecosystem. Looking further ahead, the attention from auction can affect the raise of royalty naturally to make win-win relationship. ‘MUSICOW’ satisfies investors. In this low interest depression, the return of installment savings is not enough and funs which have big business fluctuations is not stable. Unlike unsatisfactory and high list investment, MUSICOW leads IP financing to suggest a stable and definite alternative. - Stable and definite return & potential expected return MUSICOW copyright investment has the highest rate of return against investment-cash among other financial products. Also, copyright investment has no loss but you will receive monthly revenue for 70 years since the death of original creator. The rise of attention through auction and remake song popularity affect potential return. These appealing factors that you can enjoy music with high and stable return enable this innovative culture platform. In 2019, users’ return%(pre-tax) through MUSICOW Actual royalty average return against auction purchase price: 5.7% Additional return through user market: 19.9% *Royalty return (%) is reflected fans’ voluntary high purchase price and user market return (%) is the statistics of additional selling return which does not include royalty revenue. - Predictable and encashment ‘Good Investment’ Users can invest clearly by judging the investment feasibility by themselves based on detailed past royalty statistics by MUSICOW. After purchasing copyright share, users can receive stable and long-term revenue it generates and also can earn profits from user market. Trades among users occur through ‘User Market’ with users’ reasonable price and you can convert the profits into real cash through “My Wallet” > “Withdrawal” function. How can I own music? You can own music through ‘Copyright Auction’ and ‘User Market’ in MUSICOW. Let’s be the first copyright owner for every week updated copyright auction! The auction is opened at 12:00 P.M and closed at 21:00 on every weekday. *Open: Monday 12:00 ~ Close: Sunday 21:00 *Open: Tuesday 12:00 ~ Close: Monday 21:00 *Open: Wednesday 12:00 ~ Close: Tuesday 21:00 *Open: Thursday 12:00 ~ Close: Wednesday 21:00 *Open: Friday 12:00 ~ Close: Thursday 21:00 ▶ Go to Ongoing Auction Have the past auction song in User Market! You can sell freely your copyright share in User Market! Please refer to operation guide for more details. ▶ Go to User Market

wallet (charge)

  • Musicoin’s “My Wallet” function is to secure transaction efficiency and to protect false bidding. 1 cash has the same value of 1 KRW. Charging and saving cash has the same characteristic of depositing real money (KRW). However, according to the Electronic Financial Transaction Act, cash is not considered as digital money or other electronic payment means. No interest income will appear since it may have a chance of violating the Act on the Regulation of Conducting Fund-Raising Business Without Permission.
  • After you sign in, please find and select “Cash Charge” from the main menu. ① Select the charge amount you want. (10,000/50,000/100,000/500,000) ② Select payment method. (Online transfer/Virtual account/Deposit without a bankbook) ③ Press "Charge" [Online Transfer] If you use online transfer, your charge will be reflected automatically and it will take 10minutes to reflect the charge to the system. [Virtual account] If you use virtual account, you can deposit the payment into the account number you received and it will take 10 minutes to reflect the charge to the system. [Deposit without a bankbook] Deposit without a bankbook can be confirmed when the deposit is done after charge request and it will be reflected at 9:00, 12:00, 15:00, 17:00 on working days (except national holiday) in “My Wallet” *If you use deposit with a bankbook, there is a limitation of reflecting, so it would be better to use online transfer and virtual account.
  • After sign in, click “My Wallet” >” Withdraw” menu on the main page. Enter your password and click “Confirm”. Fill out your amount you want and click “Withdrawal Request” Check the requested withdrawal amount again and press “Confirm”, too. *The requested cash will be deposited to your registered bank account at 15:00 on the next working day. *Please check your account name and account information so that the withdrawal request could be done properly. Withdrawal commission policy *For domestic account, if you want to withdraw under 10,000 KRW, the 500 KRW commission will occur and it is free for twice a month. *According to overseas users, withdrawal will be affected by the exchange rate of the day you request withdrawal and the commission is different from each nation.
  • Sign in and find “My Wallet” on the main menu. Choose "Deposit/Withdrawal list" in the menu. The completed transaction will be disappeared automatically.
  • You can check in the "My Wallet" menu at the top of the homepage.

account

  • 1) Can I sign up with someone else’s identification? If you create MUSICOW account with someone else’s identification or information, your account will be suspended immediately. Please use your identification for using MUSICOW service. 2) Can Minors(pupils) make an account? If you are a minor, please ask inquiry to info@musicow.com And we will send you ‘Minors Joining Consent form’ (attached file)! Please prepare the Family Relation Certificate which is issued by a legal guardian and the Minor Joining Consent (attached file) handwritten by a legal guardian and send them to info@musicoin.com. After then we will help you to join. 3) I changed my name legally. How can I transfer? Please send a resident registration certificate which contains the information of renaming to info@musicoin.com and we will change your user name and deposit name after checking. 4) Can one person use multiple accounts? Every person can use only one account. 5) Can the corporation sign up? We are not offering the corporation service only available for private member service now. We are planning the service for the next update.

  • The two-factor authentication is not necessary but optional that you have to use WEB screen(PC) to set it. After join us, click “My Page” on sign in. For person verification, please enter your present password and click “Confirm”. And click “Use Google OTP(2FA)”. Download Google Authenticator (Google OTP) application in your mobile device from Playstore or Appstore. After turn on the app, scan this following QR code and then the 2FA will be applied. If your screen ends before registering 6-digit OTP number, you have to newly scan QR code and newly be received OTP number. After registration, you have to enter the 6-digit number from the application every time. If you want to remove this function, you can do de-authentication request in "My page".
  • Click “Sign in” and go to the sign in page. After clicking “Forgot password” in the bottom of sign in page, you will go to the page that you can re-set your new password. Then enter your registered e-mail for joining MUSICOW and select "Send e-mail to reset password". Then we will send you link to the email that you can reset your password. Go to that link and reset your new password for sign in. If you forgot your registered e-mail account, please send e-mail to info@musicow.com and we will handle it. 
  • Please sign in and go to “My Page” at the top menu. After revising your information, press "Save" button to save your new information. 
  • Please sign in and go to “My Page” and click “Delete account” at the bottom of the page. **If you have any copyright or cash and there is no extra request, it will extinct automatically.

auction

  • What is royalty auction? Royalty auction is a new type of Culture-Investment service that anyone can purchase and share by introducing artists’ copyright share as a member of music ecosystem. Fans/Investors can purchase their favorite music to be a part of copyright community with participating in the revenue it generates and supporting the artist. Artists can focus on creating activity with the copyright fee which fans raised and check how much attention they are getting from the public. Through the auction, the more attention the music gets, the more copyright fee it would get. When does the auction open? The auction is opened at 12:00 P.M on every weekday and closed at 21:00 P.M in 6 days. *Open: Monday 12:00 ~ Close: Sunday 21:00 *Open: Tuesday 12:00 ~ Close: Monday 21:00 *Open: Wednesday 12:00 ~ Close: Tuesday 21:00 *Open: Thursday 12:00 ~ Close: Wednesday 21:00 *Open: Friday 12:00 ~ Close: Thursday 21:00 How can I participate in the auction? ① Trade > Ongoing Auction > Participate ② Enter bid amount/price ③ Click ‘Bidding’ *For preventing false bids, the deposit (5% of the total bidding price) is prepaid when you suggest bid over 50,000 KRW. Bidders with the highest bidding price will be the winner in order and when the price is same, faster bidders will win the share based on first-come-first-served at 21:00 P.M on auction closed day. We will send the notice e-mail/text message about the deposit due date and bidding price. If you have enough cash in your wallet as much as bidding price until the deposit due date (in 3days from the auction closed day/in case of holiday, 15:00 P.M of the next working day), you will bid successfully. ▶ Go to Ongoing Auction

  • ‘Deposit’ is a bid bond policy for preventing false bids that if you suggest bid over 50,000 (share amount*price), the deposit (5% of the total bidding price) is prepaid from ‘My Wallet’ cash balance. If your auction is not successfully bid, the deposit will be refunded automatically. At the last day of auction, cancel is unavailable and only rebidding with upper price and amount is available. And the bid bond will not be repaid for cancellation of unpaid situation after successful bid and the service would be temporarily restricted.
  • Bidding will be determined by the higher price in order based on the deadline time. If the bidding price is same, first-come-first-served. You can check the bidding process in the song detail page. 'Successful bid' means that if there are no other investors who offer higher price, it is expected to be done. 'Partial bid acceptance' means that if the amount of same bid is not enough, it will be on a first-come-first-served basis. '-'means that it will not be bid successfully unless you rebid in higher price.
  • When the auction is closed, notice e-mail and text message will be sent to the users who successfully bid. (by Korean member only) If you charge cash in due date, MUSICOW will reflect to the system after the processing time. <Successful bidding process time> 1) Monday 12:00 P.M open ~ Sunday 21:00 P.M close : 1st – Mon 10:00 A.M (KST) 2nd – Tue 10:00 A.M (KST) 3rd – Wed 10:00 A.M (KST) Final – Wed 15:00 P.M (KST) 2)Tuesday 12:00 P.M open ~ Monday 21:00 P.M close : 1st – Tue 10:00 A.M (KST) 2nd – Wed 10:00 A.M (KST) 3rd – Thu 10:00 A.M (KST) Final – Thu 15:00 P.M (KST) 3)Wednesday 12:00 P.M open ~ Tuesday 21:00 P.M close : 1st – Wed 10:00 A.M (KST) 2nd – Thu 10:00 A.M (KST) 3rd – Fri 10:00 A.M (KST) Final – Fri 15:00 P.M (KST) 4)Thursday 12:00 P.M open ~ Wednesday 21:00 P.M close : 1st – Thu 10:00 A.M (KST) 2nd – Fri 10:00 A.M (KST) 3rd – Mon 10:00 A.M (KST) Final – Mon 15:00 P.M (KST) 5)Friday 12:00 P.M open ~ Thursday 21:00 P.M close : 1st – Fri 10:00 A.M (KST) 2nd – Mon 10:00 A.M (KST) Final – Mon 15:00 P.M (KST) If you have sufficient cash in your wallet, there is no need for additional cash charge otherwise your bidding will be cancelled. So please keep in mind to make your cash be enough in due date. You can check your copyright in homepage 'My Copyright'. 
  • Trade will be automatically cancelled if your cash balance is insufficient at the time of payment due date. Considering fairness, please keep in mind that the process could not be done after the due date. According to the accumulation number of unpaid days, service would be temporarily restricted. <Notice for suspennsion>
    First strike for three days Second strike for two weeks Third strike for permanently suspended.

buy

  • Press the “Trade” > “User Market” at the top menu. Select the song you want to purchase in the list. You can check the price per share suggested by other users. Select the price and amount and press the proceed button. *MUSICOW imposes 300 cash commission fee per share for platform service. *If your cash balance is insufficient or your account is not yet verified, the trade will not be done. Use this service after cash charge or verifying identification in your page. For confirming purchase, agree all to the agreements and press the “Confirm”.

sell

  • Click 'My Copyright' at the top menu and select the song you want to sell. 

    You can check the amount and price suggested by other users for the same song. 
    Set your desired amount and price and click proceed. 

    *MUSICOW imposes 300 cash commission fee per share for platform service.

    Agree all required for selling and click 'Confirm'.

    If your copyright is sold, cash will be added in your 'My Wallet'.

Royalties income

  • ‘1 share’ is the smallest unit of the divided royalty of a song and the right to receive a certain amount of royalty. MUSICOW shows the past royalty revenue and other information based on 1 share. You can check the exact copyright share information per share in “Copyright information” for the song details.

  • In case of music, the copyright is classified as Author’s Property Right and Neighboring Right.

    Author's Property Right

    Author’s Property Right is the right of creators (composer, lyricist and arranger), which means the original creator or the transferee get. 

    Neighboring Copyright

    Neighboring Copyright is the right of people who make customers enjoy the work (singer, producer and so on). Most of the Neighboring Copyright which MUSICOW uses in auction is the right of record producer related to the Author’s Property Right. Pursuant to the Copyright Law, the record producer’s right includes reproduction, distribution, lending, transmission and the request for remuneration (for record producer, digital sound transmission operator, performers who use commercial records). 

    Considering the value of two rights which are protected for long time, both of them have no big difference in future revenue. 
    However, pursuant to current law, Author’s Property Right will last until 70 years since the death of the writer and Neighboring Right (for record producer) will last until 70 years since record release.
    So, the duration for Neighboring Right is a little bit short compared to the former. 


  • Pursuant to the Copyright Law, Author’s Property Right will last until 70 years since the death of the original writer. (In case of joint work, last until 70 years since the death of the last writer.) Neighboring Copyright (the right of record producer) is also protected for 70 years after publication. 

  • Copyright fee include reproduce, performing, public transmission, display, distribution, rental and adaptation right so it will be collected in these conditions. 

    Copyright fee is calculated to mostly broadcasting (TV, Radio, YouTube), online streaming services (Melon, Bugs), performances (karaoke, concerts, festivals), reproductions (publication, karaoke) and overseas media, pursuant to the regulations of the Collective Management Organisations.
  • In accordance with Copyright Law, only non-profit copyright trust management company approved by Ministry of Culture, Sports and Tourism can collect and distribute royalty. 

    That’s why MUSICOW cannot be deemed as the copyright trust management company and has no right calculation and distribution of royalty. 
    That's why MUSICOW is the member of the Collective Management Organisations and distributes the royalty to the users. 
  • Royalty mostly occurs at the first year of song’s release and after that gradually fall and maintain stable trend in 1~2years.
  • Originally, remake song copyright belongs to the original song so the royalty increases. However, pursuant to special contract of transfer contract with original creator, the right for remake song could be restricted and, in this case, there will be extra noted. 

    The increase is determined by the popularity of the remake song. And it takes time to collect the royalty of it, so the royalty will not soar immediately for the next month. 

    If you look forward to increasing for the remake, it would be better to hold the copyright longer. 

    The figure could be changeable by various factors. MUSICOW does not ensure any future royalty in any circumstances.

  • The monthly royalty collection and distribution period and actual usage of a copyright song may differ since it takes time to find and confirm the exact collection target who used the music from various media (streaming/copy/concert/etc.). You can check the detailed royalty collection (distribution) period from the chart. When the song has an additional contract with an overseas publisher, you will get the royalty depending on the overseas publisher’s collection period.

    The royalty distributed by MUSICOW is the rights we purchased from the original author. Which means, the royalty collection starts upon the purchase date and the collected fee will be distributed to the users.
  • If you possess copyright share, 1) Every month when you receive royalty 2) Resell your copyright share above the origin price you paid, in these two circumstances, you can earn revenue and these are classified as the other incomes.

    When it comes to other incomes, if the revenue per item is under 50,000 KRW and at the same time the total annual accumulation of other incomes is under 3,000,000 KRW, it is subject to non-taxation. However, if the total annual accumulation of other incomes is over 3,000,000 KRW, it should be added to the tax base of global income and reported until every May.


    In case of tax threshold under 50,000 KRW per item


     - According to royalty revenue, the monthly royalty is the criterion. For example, if sing A generates 1,000 KRW and song B generates 60,000 KRW, the withholding tax for song A revenue doesn’t occur but the 22.0% (other incomes tax and local income tax) withholding tax will be deducted for song B. 


     - In case of generating extra revenue from user transaction, it will be considered per trade. For example, user A purchased song B with 10,000 KRW per share in the past. And user A sold 5 shares and user C purchased 1 share for 30,000 KRW (per share) and user D purchased 4 shares for 30,000 KRW (per share). Then these trades are considered as two sperate units. The profit from user C trade is 19,700 KRW (excluded commission) so the withholding tax will not be deducted. However, the profit for user D trade is 78,000 KRW (excluded commission) so there will be. It means that if your profit excluded commission is under 50,000 KRW, you don’t have any withholding tax to pay. Otherwise, the 22% of the whole profit excluded commission will be deducted. 


    In case of other incomes over 3,000,000 KRW


    If your annual other incomes including MUSICOIN revenue is over 3,000,000 KRW, you should report the general income tax and the withholding tax could be deducted naturally. However, if it is over 3,000,000 KRW, you should report the general income tax with adding tax base of global income until every May. You can check your other incomes amount upon period in “My Wallet” page. Even if we are offered your resident registration numbers, we cannot know your other incomes excluding MUSICOIN revenue so if your annual other incomes is over 3,000,000 KRW, you have to report by yourself. 


    In case of users who didn’t agree with offering resident registration numbers

    If you didn’t’ agree with it, we cannot report it on behalf of you. So, please keep in mind that you should do it by yourself with above instruction.


  • We offer the cash receipt only for the actual auction purchase and the commission of user transaction not for the cash recharge. The cash receipt for last month will be issued on the 3rd of next month (in case of holiday, the next working day).