‘Kpop Demon Hunters’ Shows Superfan Economy’s Next Frontier: Weverse Founder, Openwav CEO Talk Platforms at All That Matters

The burgeoning superfan economy was a central topic at Singapore's All That Matters conference, where industry leaders examined its evolution into a major commercial force. Using Netflix's animated project "Kpop Demon Hunters" as a key case study, a panel explored how dedicated platforms are enabling creators to foster committed communities and secure stable revenue streams, thereby circumventing the limitations of broad social media networks. The discussion was moderated by DFSB Kollective President Bernie Cho and included perspectives from b.stage CEO Wooseok Seo and Openwav co-founder Jaeson Ma.

Wooseok Seo, the founder of the influential fan platform Weverse, recounted its origins. He revealed that the idea emerged after observing how BTS amassed tens of millions of social media followers without a mechanism to collect actionable data about them. Weverse Company was founded in 2018, with the platform itself launching the following year. Despite its rapid growth, Seo noted that competing music labels were reluctant to participate in a community owned by HYBE—the entertainment conglomerate behind global superstars BTS—due to concerns over data control. This industry-wide reluctance ultimately led to his departure and the creation of b.stage, a white-label solution that allows any artist or label to build a proprietary fan community. This model has now been adopted by more than 950 artists globally and can deploy a customized fandom environment in under 30 days.

Meanwhile, Jaeson Ma detailed Openwav's focus on empowering independent musicians, a group that frequently struggles to earn a living wage in the current streaming landscape. He pointed to a sobering figure: fewer than 0.4% of independent artists on Spotify earn $10,000 or more annually. Ma championed a strategic pivot toward nurturing a smaller, more dedicated fanbase. "A million followers on social media doesn't pay your bills, and a million monthly listeners on Spotify doesn't either," he asserted. "The real objective is to identify 1,000 true fans willing to spend $10 per month, which generates $120,000 a year." This philosophy was bolstered by the involvement of Grammy-winning artist Wyclef Jean, who joined Openwav as chief music officer. Jean, a prolific musician and producer with over a decade of experience in the technology industry, has become a vocal proponent for artists maintaining ownership of their master recordings, their personal data, and their direct line to supporters.

The discussion returned to "Kpop Demon Hunters" to illustrate these strategies in action. Seo explained how b.stage rapidly launched an official community for the film, rolling out memberships and exclusive welcome kits shortly after its release. Ma provided a powerful example from a proof-of-concept event featuring Kevin Woo, a former member of the K-pop group U-KISS and a voice actor in the series. Originally conceived as a small meet-and-greet at a Los Angeles ice cream shop, demand surged unexpectedly, leading Openwav to sell 2,600 VIP tickets in just 24 hours. "We had 2,000 young fans lining up from six in the morning," Ma recalled. This explosive turnout served as tangible proof that deeply engaged fan communities are not only viable but highly monetizable, creating a mutually beneficial financial ecosystem for creators and their most loyal followers.