NCT Dream, TWICE, & More - Songwriting and Publishing Royalties

This asset includes five of the biggest names in Korean pop, and four of their songs were released in the last two years. NCT DREAM released “BTTF” in July 2025, and it is already the second-biggest earner in the catalog. SEVENTEEN’s “HBD” arrived in May 2025, THE BOYZ added “bAd” and “They See Me Dream” in October 2024, SHINee’s “HARD” followed in 2023, and TWICE’s “Doughnut” in 2021.

New songs get played on tour, and touring pays. When these tracks entered setlists in Japan, Thailand, Korea, and Hong Kong, concert royalties jumped more than fivefold, and they now account for 10% of income.

Almost half the income comes from abroad, spread across 118 countries, and South Korea alone accounts for 21%, the second-biggest market after the US. Add Japan, Thailand, and Hong Kong, and about a third of the catalog is earned in Asia. Performance royalties, what a song earns when it is played in public, are 68% of the year and grew 21%.

Two things went the other way, and the numbers make it easy to see. A track called “NANANANA” brought in about $4,000 from YouTube in a single quarter, which is 15% of the year. Take it out, and the year is down 15% rather than flat. “Glitch Mode,” NCT DREAM’s 2022 hit, is down 82% as it moves past its biggest years, pulling mechanical royalties down 64% with it. The year finished 9% below the catalog’s three-year average.

Underneath all of that, the catalog is wide. The biggest single earner is 15% of income, and the top five are 39% together, which leaves 61% coming from everything else. So this is not a bet on one hit. It is a set of current Korean pop songs still early in their earning life, hundreds of smaller titles underneath them, and money arriving from stages and streams in more than a hundred countries.

Current Korean pop sits at the center of this catalog, with a long tail of American titles underneath.

NCT DREAM appears twice, with "Glitch Mode" from 2022 and "BTTF" from July 2025, the newest song here. SEVENTEEN's "HBD" came out in May 2025, and THE BOYZ added "bAd" and "They See Me Dream" in October 2024. SHINee brings the 2023 title track "HARD" and a Japanese-language cut, "Feel So Good." TWICE brings "Doughnut," a Japanese release from December 2021. Smaller Korean cuts fill in the rest, including "Snap" from MOON SUA with sokodomo, and songs from Z.HERA and Cho PD.

Also here: "NANANANA," credited to Diamonique and dating to 2003, country songs from Jessta James, work from producer Fingazz, including "Goin Up" with Jerome Spence, and a library of instrumental cues written for TV.

Rights coverage varies by track. A per-track list of included rights is available here.

Earnings Note. Korean and Japanese royalties in this catalog are collected almost entirely on the performance side. AdminMP does not collect in those territories, with one exception: the Korean mechanical and publisher royalties on "Glitch Mode," which are included in this sale. Direct synchronization fees are not included.

Earnings Note. The AdminMP distribution schedule shows only a partial payment in Q4-2023. Royalties for the 2023 period continued to arrive across the following distributions rather than as a single catch-up payment, so all four quarters are accounted for in the earnings history. Any further catch-up payments are payable to the winner of this catalog.

Earnings Note. The 2Q-2026 distribution contains a one-time YouTube payment of approximately $4,000 on “NANANANA”. Excluding that payment, the trailing 12-month earnings are approximately $22,370; the 3-year average is $27,636; and the Dollar Age is 7.5, resulting in a marketplace median of $197,550. Any similar payments in the future will be payable to the buyer.