Red Velvet, Everglow + More Publishing Royalties

This asset holds publishing royalties on songs recorded by K-pop award-winning acts, led by Red Velvet, alongside EVERGLOW, TEMPEST, FANTASY BOYS and Japan’s Little Glee Monster. Over the last twelve months, the songs earned $3,903 across 158 countries, with Japan the largest market at 37%.

The catalog is moving past its release peak. Excluding about $15,300 in large mechanical payments from South Korea in 1H2024 and 1H2025, half-year earnings topped out at $3,125 in 2H2024 and have held between about $1,700 and $2,500 over the last three statements. 1H2026 came in 29% above 2H2025. Measured over a full year, earnings are softening about 31% against the prior twelve months, with the steepest step down coming in 2H2025.

The acts behind 69% of these earnings remain busy in 2026: Red Velvet returned with a new album in August, EVERGLOW released new music in March and took a world tour across North America, Latin America and Europe and Little Glee Monster is on a 15-city Japan tour into 2027. Active artists keep their fan bases engaged, and new releases and tours can draw listeners back to earlier songs like “Nightmare,” “Slay” and “Ready to Go,” offering potential support for the income this catalog earns.

“Slay” was EVERGLOW’s comeback single in August 2023, ending a 20-month break between releases. It led the group’s fourth single album, All My Girls, which debuted at No. 13 on the Circle Album Chart. “Slay” won EVERGLOW first place on Show Champion, one of South Korea’s weekly TV music ranking shows, the group’s third such win. It also anchored a US tour that November, followed by European dates.

Red Velvet, the K-pop girl group with the most No. 1 albums on the Circle Album Chart, South Korea’s official national album chart, recorded “Nightmare” for Chill Kill (2023), the group’s first full-length album in six years. Chill Kill debuted at No. 2 on that chart and later rose to No. 1, the group’s 13th album to top it. “Nightmare” is a mid-tempo R&B song built on heavy strings and a retro swing rhythm.

“Dangerous” is the title track of TEMPEST’s fourth mini album, The Calm Before the Storm (2023), a funk-driven dance song from a K-pop boy group active from 2022 to 2026.

FANTASY BOYS formed from the top finalists of MBC’s idol survival show of the same name. The group debuted in September 2023 with the mini album New Tomorrow, which includes the title track “New Tomorrow” and “Shangri-La.” The album reached No. 7 on the Circle Album Chart and No. 16 in Japan.

Exchange Rates. Royalties for this asset are reported by EKKO in Swedish Krona (SEK). To calculate royalty payments in U.S. Dollars (USD), Royalty Exchange applies the average historical exchange rate for the distribution month (via X-rates.com).

Future royalties will be paid to Royalty Exchange in Swedish Krona (SEK) converted to USD upon receipt, and then paid in USD to the winning investor. The receiving bank may increase the exchange rate by up to 2.5% as a transaction fee.

Buyer Administrative Fee: A 5% administrative fee applies to each payment the buyer will receive.

Earnings Note. 1H2024 and 1H2025 contain large mechanical payments from South Korea on ‘Shangri-La’ (approximately $4,900), ‘New Tomorrow’ ($2,450) and ‘Slay’ ($1,350) in 1H2024, and on ‘Nightmare’ ($6,600) in 1H2025. Any similar payments in the future will be payable to the buyer.