JYP Entertainment

JYP Entertainment Corporation
Public
Traded as KRX: 035900
Industry
Genre
Founded May 1997 (1997-05)
Founder J. Y. Park
Headquarters Seoul, South Korea
Area served
 Worldwide
Key people
 Wook Jung CEO
Services
  • Music production
  • Licensing
  • Record distribution
  • Film production
  • Artist management
  • Actor management
Revenue
  • IncreaseUS$ 93.99 million (2017)
  • US$ 69.51 million (2016)
  • US$ 50.56 million (2015)
  • Increase US$ 15.04 million (2017)
  • US$ 7.533 million (2016)
  • US$ 3.1 million (2015))
Owner
  • J. Y. Park (16.1%)
  • Korea Investment Value Asset Management Co., Ltd. (8.39%)
  • JYP Entertainment Corporation (8.02%)
  • MEDIAcorp, Inc (5.09%)
  • Others (62.4%)
[1]
Number of employees
 170[2]
Divisions see list
Subsidiaries see list
Website www.jype.com/ Edit this on Wikidata
JYP Entertainment Co., Ltd
Native name
 JYP 엔터테인먼트 or 제이와이피엔터테인먼트
Private
Industry Entertainment
Fate Merged with JYP Entertainment corporation
Founded May 1997 (1997-05)
Founder J.Y. Park
Headquarters West Olympic park JYP center, Gangnam District, Seoul, South Korea
Area served
 South Korea
Key people
 Wook Jung (CEO)
Services Distribution, Entertainment
Number of employees
 59
Subsidiaries
  • AQ Entertainment
Website www.jype.com/ Edit this on Wikidata

JYP Entertainment Corporation (Korean: JYP 엔터테인먼트) is a South Korean entertainment company established by J. Y. Park in 1997. The company operates as a record label, talent agency, music production company, event management and concert production company, and music publishing house.[3][4]. It is currently one of the largest entertainment companies in South Korea

Since its formation, the company have experienced commercial fluctuations throughout the years. [5] Notable artists include 2PM, GOT7, Day6, Twice, Stray Kids, and 15& and formerly home to artists like Rain, G.O.D, Wonder Girls, 2AM, Miss A. Current key people of JYP Entertainment include founder Park, who continues to be involved with the music production scene.

History

1997–2010: Formation and success

Park Jin-young, founder of JYP Entertainment.

JYP Entertainment was founded in 1997 by South Korean singer-songwriter J. Y. Park as Tae-Hong Planning Corporation, which eventually became JYP Entertainment in 2001. In December 2000, JYP Entertainment signed Rain as a trainee,[6][7] who made his debut two years later. He became the first Korean Global solo artist when he expanded outside of South Korea.[8] Rain later opened the subsidiary label J. Tune Entertainment. Park continued to produce for other artists, including the boy band G.o.d, who debuted under the record label Sidus HQ. After the group's contract ended with Sidus HQ, G.o.d. signed a contract with JYP Entertainment in 2004.[9]

In May 2006, JYP formed its first girl group, Wonder Girls,[10] who became a commercial success and was the first South Korean group to enter the Billboard Hot 100 in 2009 when their song "Nobody" charted at No. 76.[11][12] Their success lead to a management deal with the Jonas Group, which allowed for the Wonder Girls to open for the Jonas Brothers's world tour in select cities.[13]

Wonder Girls in 2008

In 2008, the competitive reality series Hot Blood Men was created, pitting two teams of male trainees against each other for the chance to debut. The winning group, One Day, was later split into two boy band, 2PM and 2AM; both debuted that same year.[14] 2AM was jointly contracted with Big Hit Entertainment.[15] Later in October, JYP Entertainment opened the JYP Beijing Center as their China branch. The same year, CAA (Creative Artists Agency) included JYP Entertainment in its roster of high-profile clientele.[16][17]

Expanding its endeavors in 2010, JYP Entertainment acquired J. Tune Entertainment.[18] KMP Holdings was also established via a joint venture between JYP Entertainment and several other large record labels.[19] The subsidiary AQ Entertainment was later formed and introduced the Chinese-Korean girl group Miss A.

2011–2014: Commercial fluctuations

In November 2011, the US-based subsidiary JYP Creative was established and it was reported that Park invested approximately US$1.2 million in the branch. However, after a year of operation, the company reportedly saw a net loss of around US$1.5 million by the end of 2012, forcing the CEO to liquidate the branch and close all US operations, including the New York branch.[20] The same year, Park Jimin, winner of the competitive TV series K-pop Star, and Baek Yerin, a female trainee and contestant on the show Star King, debuted as the duo 15&.[21][22] In 2012, KMP Holdings was acquired by KT Music, and in June 2013, KT Music absorbed KMP's distribution network.

The following year, JYP Pictures signed a contract with China Eastern Performing Arts Group to co-produce a movie "Hold Your Hand", featuring actors belonging to JYP Entertainment.[23] The subsidiary AQ Entertainment became defunct that December, effectively moving girl group Miss A to the main label. During the fourth quarter, Jyp Entertainment became listed on KOSDAQ. [24]

In January 2014, the seven talent agencies behind KMP Holdings formed a collective bond partnership and bought 13.48% of KT Music's stocks, leaving KT Corporation with 49.99%.[25] That same month, Got7, the labels' first boy group since the debut of 2PM and 2AM in 2008, made their debut.[26][27] 2AM's joint contract with Big Hit Entertainment and JYP Entertainment expired later that April, with three of the 2AM members returning to JYP, while member Lee Chang-min stayed with Big Hit in order to continue with his solo career and as part of the duo Homme.[15] In late August, JYP Pictures and Dongyang World Culture Communication produced the drama Dream Knight, starring Got7 members.[28]

Season three K-pop Star winner Bernard Park signed a contract with JYP to jumpstart his solo career.[29] On December 17, 2014, it was reported that J.Y. Park has sold the JYP Entertainment HQ building in Cheongdamdong, Seoul to Choi Ki Won, the sister of SK Group's chairman Choi Tae Won, for about $7 million in November. However, JYP Entertainment will still use the building for three years on rent.[30][31]

2015–present: Prominence and business expansion

The success of Twice lead JYP Entertainment to become the largest South Korean entertainment company.[32][5]

In 2015, the subsidiary Studio J was formed, debuting its first artist G soul on January 9.[33] Two groups were formed that year: the girl group Twice, whose members who chosen from the competitive reality series Sixteen,[34] and Day6.[35] . In March 2015, Seulong and Jinwoon departed from JYP Entertainment upon their contract expiration,[36] while Changmin ended his contract in August 2015 and Jo Kwon renewed his contract.[37] JYP Entertainment later signed a contract with JaxCoco, a Hong Kong-based coconut product company headquartered in Hong Kong. JYP and Jax Coco plan to launch coconut oil, coconut flakes and other related products at major department stores and supermarkets in South Korea.

Venturing into the Chinese market, JYP Entertainment established music distribution partnership with China Music Corporation February 19, 2016.[38] This was followed by JYP Entertainment jointly establishing the Beijing Xin Sheng Entertainment Co., Ltd with Tencent Music Entertainment the following year,[39] which oversaw the debut of the boy band Boy Story.[40] Got7 Chinese member Jackson Wang later announced his solo endeavors in the country.[41]

On July 1, 2017, JYP Entertainment acquired a property worth 20.2 billion won (US$18 million) in Seongnae-dong, Gangdong District, Seoul, South Korea to be used as its new company office.[42] A partnership with DailyMotion, Europe's largest video platform, was also signed to open its artist channel on its platform to secure a more global fan base.[43] They also entered into a music business agreement at SK Telecom headquarters in Euljiro in 2018 with SM Entertainment, Big Hit Entertainment and SK Telecom to Start a Contents Distribution Business and to cooperate with the development of B2B music distribution business and B2C music service platform business.[44]

In the first quarter of 2018, JYP became the second largest entertainment company in South Korea when their total market capitalization, largely due to the success of Twice, surpassed YG Entertainment. It was the first time that JYP had placed second among the Big 3 large company, with SM Entertainment retaining the top position.[45][46] Later that year in the fourth quarter, JYP surpassed SM to become the largest.[5] That May, JYP became the only Korean entertainment company that was ranked in Financial Time "FT 1000: High-Growth Companies Asia-Pacific" list, charting at No. 177 out of all 1000 companies and No. 12 out of all 104 Korean companies.[47].

Partnerships

Music distribution

JYP Entertainment's records are distributed by the following companies:

  • iriver Inc – South Korea (since January 31, 2018)
  • Japan
  • BEC-TERO Music – Thailand
  • Trinity Optima Production – Indonesia
  • Tencent and China Music Corporation – China (online distribution only)
  • One Production – Rest of Asia (Taiwan, Singapore, India, Hong Kong, etc.)
  • SubKulture Entertainment – USA

Holyim

In June 2009, it was officially announced that JYP Entertainment and the Jonas Group signed a management deal for the Wonder Girls. Wonder Girls joined the Jonas Brothers' World Tour 2009, in selected cities, and performed their two songs "Nobody" and "Tell Me" as the opening act. In the same year, Holyim, a joint venture between JYP Entertainment and KeyEast BOF, was founded.

J. Tune Entertainment

In December 2010, JYP Entertainment effectively incorporated J. Tune Entertainment.[48][49]

KMP Holdings and KT Music

In March 2010, KMP Holdings was established via a joint venture between JYP, S.M. Entertainment, YG Entertainment, Star Empire, Media Line, CAN Entertainment, and Music Factory Entertainment. KMP Holdings was acquired by KT Music in November 2012, and in June 2013, KT Music absorbed KMP's distribution network. In January 2014, the seven talent agencies behind KMP Holdings formed a collective bond partnership and bought 13.48% of KT Music's stocks, leaving KT Corporation with 49.99%.[25]

United Asia Management

In 2011, JYP Entertainment joined with S.M. Entertainment, YG Entertainment, KeyEast, AMENT, and Star J Entertainment to form United Asia Management in an effort to promote Korean pop music internationally.[50]

Smile Gate

On November 17, 2013, JYP Entertainment partnered with Smile Gate to promote the game CrossFire with 2PM and Miss A.[51]

IRIVER Inc

On January 31, 2018, Iriver announced its entry into the Korean music industry. Together with parent SK Telecom and music labels S.M. Entertainment, JYP Entertainment and Big Hit Entertainment, the company will launch a new online music store in the second half of 2018.[52]

Divisions

  • JYP Beijing Center China(JYPE China) is the company first external official branch in chin, it was opened in 2008
  • JYP Entertainment Inc[USA], it was established in 2008
  • JYP Entertainment Hong Kong Limited[53], it was established in 2017

Subsidiaries

JYP building in the Gangdong District

JYP Publishing

JYP Publishing is an affiliated company of JYP Entertainment, founded by top producer J.Y. Park in February 2008 with the goal of advancing and globalizing music publishing industry. JYP Publishing is one of the best music publishing companies with expertise in both domestic and overseas business through discovering new lyricists and songwriters, pitching and promoting demos, creating licensing opportunities, and nurturing next-generation producers.

Besides Asian top producer J.Y. Park, JYP Publishing has a roster of leading songwriters and lyricists including: Hong Jisang, Sim Eunjee, Tommy Park, Kim Eunsoo, Min Lee “collapsedone”, Woo Rhee “RAINSTONE” and singer-songwriters including: Wonder Girls, 2PM, G.Soul, DAY6, Yerin Baek. Putting the best effort to discover trend-leading music and songwriters, and creating opportunities through new collaborations between songwriters, JYP Publishing is holding prominent position as the industry leader.[54]

Studio J

Studio J is an in-house label created by Park Jin-young in January 2015. Park described Studio J as a label which will launch JYPE into a new direction in music. The sub-label will create music which rather than appealing to the mainstream will instead showcase free and deep artist. Few days later he revealed G.Soul to be the first artist on Studio J's roster.[55]

JYP Pictures

JYP Pictures is a film and TV drama production division that was founded in March 2011 along with other subsidiaries. It is led by JYP Entertainment vice-president Pyo Jong-rok.

It is credited with production or co-production of the following works:

JYP Foods Inc

JYP Foods Inc was founded in 2010.[56] On March 27, 2012, Park Jin-young opened his first restaurant Kristalbelli in New York City.[57] It is known as the most expensive Korean BBQ restaurant in America, and for its use of crystal grills.[58][59]

Studio J bar was created on June 2, 2016 as a collaboration between JYP Entertainment and a famous bar in the Chungdam District called Y1975.[60]

The Street is a brunch cafe and a bistro run owned by JYP Entertainment. The main branch is located nearby JYP Entertainment office building, and another branch is located in Gyeongridan area, Itaewon. The place is used for an interview or a meeting by JYP (Jin Young Park) and artists under the JYP Entertainment label. The terrace also provides a relaxing space for the visitors at this cafe.[61]

Beijing Xin Sheng Entertainment Co., Ltd

On April 5, 2017, Ocean Music and JYPE jointly established the Beijing Xin Sheng Entertainment Co., Ltd. in the indoor recreational facilities operation, organization of cultural and artistic exchanges and film and television planning and other aspects of cooperation. So a few months after that JYP, Jackson, Fei and a 10 year old JYP Chinese trainee gifted in dance went to China to record this massive road show-style Audition show to recruit more trainees to create a hip hop oriented Chinese boy group. The name of the show was "Guaishushu is coming" and the concept was to travel across different cities and mix visits to the cities, with large scale auditions and then a big final round to select the members that will train in Korea.[62]

NCC Entertainment(NCC Station)

This is a jointly produced entertainment company by Tencent music corporation and JYPE Beijing cultural center located in Beijing, China.[39] It's also known as NCCE[63][64] It was announced through their Weibo page on August 4, 2017. New Creative Content Entertainment (NCCE) will continue to create higher quality content, leading the trend of entertainment and cultural trends for the Chinese entertainment industry to bring fresh vitality. In order to effectively promote its Chinese artist more due to the ban placed on Korean Entertainment and to effectively promote new Chinese boy group, Boy Story more in China.[65]

Philanthropy

On March 18, 2011, JYP Entertainment donated US$300,000 towards Japanese disaster relief.[66]

On October 24, 2011, JYP Entertainment and 2PM donated US$130,000 for flood victims in Thailand.[67]

JYP Nation

Music works

  • This Christmas (December 1, 2010)
  • JYP NATION KOREA 2014 'ONE MIC' (December 9, 2014)
  • JYP NATION ENCORE (July 25, 2016)

JYP NATION concert

  • JYP NATION 2010 "TEAM PLAY"
    • December 24, 2010: Seoul (Seoul Olympic Gymnastics Arena)
  • JYP NATION 2011
    • August 17–18, 2011: Saitama (Saitama Super Arena)
  • JYP NATION 2012
    • August 4, 2012: Seoul (Seoul Olympic Gymnastics Arena)
    • August 18–19, 2012: Tokyo (National Yoyogi Arena Stadium)
  • JYP NATION 2014 "ONE MIC"
    • August 9–10, 2014: Seoul (Seoul Jamsil Gymnasium)
    • August 30, 2014: Hong Kong (AsiaWorld-Expo)
    • September 5–7, 2014: Tokyo (National Yoyogi Arena Stadium)
    • December 13, 2014: Bangkok (Impact Arena, Muang Thong Thani)
  • JYP NATION 2016 "Mix & Match"
    • August 6–6, 2016: Seoul (Seoul Jamsil Gymnasium)
    • September 2–4, 2016: Tokyo (National Yoyogi Arena Stadium)

Movie

  • 2015: I Wanna Hold Your Hand

TV series

Web drama

  • 2015: Dream Knight
  • 2016: Touching You
  • 2016: Romantic Boss
  • 2017: Magic School

Programs

Rhythm game

  • SuperStar JYPnation

Artists

JYPE

All of the artists under JYP Entertainment are collectively known as JYP Nation. [68]

Subsidiaries

Producers

Actors[71]

Former artists

Former musicians

Former actors and actresses

Discography

JYPE Service

  • JYPE Fan's : It's a livestreaming service in which JYPE artists put on live broadcasts and chat to their fans whenever they want and vice versa. It's also used to update each artists schedule. JYPE Fans.
  • JYPE Audition : It's an online website in which hopefully individuals who want to become a singer, actor and model in JYPE applies through. JYPE Audition

Locations

  • South Korea : JYP Center

서울특별시 강남구 압구정로 79길 41 JYP센터 Gangdong district,Gangdong , Seoul, South Korea

JYP Training Center / Center Audition Location 서울특별시 강남구 압구정로 90길7 3F-6F 3F-6F Apgujeong-ro 90-gil 7, Gangnam-gu, Seoul, South Korea

  • Japan : Seven Minami-aoyama Building 5F, 4-1-6 Minami-aoyama, Minato-ku.

Tokyo 107-0062 Japan

  • United States : 110 East 31st Street, New York NY 10016
  • China : E-1007, ULO Park, Futong East Road

Chaoyang District, Beijing 100012, China

  • Hong Kong :UNIT 810, 8 / F Star HSE 3 Salisbury RD TST KLN HONG KONG

References

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  3. ↑ "Big Bang theory pays off as YG embraces the attitude". Korea JoongAng Daily. 2012-09-04. Retrieved 2014-06-03.
  4. ↑ Asia, Forbes. "Korea's S.M. Entertainment: The Company That Created K-Pop". Forbes. Retrieved 2016-04-20.
  5. 1 2 3 Herman, Tamar. "TWICE's Label JYP Entertainment Rises To No. 1 Market Capitalization Among K-Pop Agencies". Forbes. Retrieved 2018-09-09.
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  7. ↑ "[BRIEFLY] Discovery to air film on Seoul". 4 April 2010.
  8. ↑ "Pop star Rain (Bi), reaching out beyond Asia". Hancinema. KBS Global. October 26, 2005.
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  82. ↑ "Sunye and Sohee officially announce their withdrawal from Wonder Girls". Soompi. September 19, 2015. Retrieved March 24, 2018.
  83. ↑ "G.Soul Leaves JYP And Joins Jay Park's Agency". Soompi. June 5, 2017. Retrieved March 24, 2018.
  84. ↑ "Jo Kwon of 2AM leaves JYP Entertainment". KBS World. September 25, 2017. Retrieved March 24, 2018.
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  88. ↑ "Taecyeon signs with new agency + JYP reassures that 2PM will continue promoting as 6 members".
  89. ↑ "Jeon Somi terminates her contract with JYPE".
  90. ↑ "Actress Kim Ye-won parts ways with JYP Entertainment".
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  92. ↑ "Min Hyo Rin To Part Ways With JYP Entertainment". Soompi. February 8, 2017. Retrieved March 15, 2018.
  93. ↑ "Actor Yeon Jung-hoon joins Lee Da-hae 'I have been loyal to 8 year friendship'".
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