JYP Entertainment

JYP Entertainment Corporation (Korean: JYP 엔터테인먼트) is a South Korean multinational entertainment and record label conglomerate founded in 1997 by J. Y. Park.[3] It is one of the largest entertainment companies in South Korea,[4] and operates as a record label, talent agency, music production company, event management, concert production company and music publishing house.[5][6] In addition, the company operates various subsidiary ventures and divisions worldwide.

JYP Entertainment Corporation
Native name
JYP 엔터테인먼트
Public
Traded asKRX: 035900
Industry
Genre
FoundedApril 25, 1997 (1997-04-25)
FounderJ. Y. Park
HeadquartersGangdong,
Seoul
,
South Korea
Area served
Worldwide
Key people
Wook Jung CEO
Services
  • Music production
  • Concert production company
  • Record distribution
  • Music publishing company
  • Artist management
  • Event management
Revenue
  • US$128 Million (2019)
  • US$109 Million (2018)
  • US$ 93.99 million (2017)
  • US$ 69.51 million (2016)
  • US$ 50.56 million (2015)
  • US$26.4 million (2019)
  • US$ 15.04 million (2017)
  • US$ 7.533 million (2016)
  • US$ 3.1 million (2015))
Owner
  • J. Y. Park (17.7%)
  • Korea Investment Value Asset Management Co., Ltd. (6.96%)
  • JYP Entertainment Corporation (6.76%)
  • MEDIAcorp, Inc (4.98%)
  • Others (63.6%)
[1]
Number of employees
235[2]
DivisionsSee List of JYP Entertainment labels
Websitewww.jype.com/ 

Notable artists include Wonder Girls, 2PM, JJ Project, Got7, Day6, Twice, Stray Kids, and Itzy. It has also handled Rain, g.o.d, 2AM, Miss A, 15&, and Baek A-yeon.

History

1997–1999: Formation and first generation K-pop artist
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 1997, the company signed its first artist and female solo artist, Pearl.

In 1999, SidusHQ introduced singer-songwriter and JYP Entertainment founder Park Jin-young to be their producer and mentor.

2000–2009: Early success and second generation K-pop artists

In December 2000, JYP Entertainment signed Rain as a trainee,[7][8] who made his debut two years later.

He became the first Korean Global solo artist that expanded outside of South Korea and became successful.[9] Rain later opened a subsidiary label named J. Tune Entertainment.

On December 27, 2002, the company's first boy group was a four-member vocal oriented group Noel, but they failed to attract popularity. JYP turned its focus to the duo brothers "One Two" in 2003 and in 2004, after the boy band g.o.d.'s group contract with Sidus HQ ended, they signed a contract with JYP Entertainment.[10]

g.o.d has won four Grand Prize's for Best K-pop Group Artists

Other notable artists that debuted during these era includes: Noel, Park Ji-yoon, Byul, Lim Jeong-hee, One Two, Ryanga Rhanga, and IVY.

Mainstream success of its second generation artists
Wonder Girls in 2008

In May 2006, JYP formed its first girl group, Wonder Girls,[11] 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.[12][13] Their success lead to a management deal with the Jonas Group, which allowed the Wonder Girls to open the Jonas Brothers's world tour in select cities.[14]

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 bands, 2PM and 2AM; both debuted that same year.[15] 2AM was jointly contracted with Big Hit Entertainment.[16] 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.[17][18]

2010–2019: Further success and third generation K-pop artists

Expanding its endeavors in 2010, JYP Entertainment acquired J. Tune Entertainment.[19] KMP Holdings was also established via a joint venture between JYP Entertainment and several other large record labels.[20] The subsidiary AQ Entertainment was later formed and introduced the Chinese-Korean girl group Miss A.

Miss A in 2013

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 dollars in the branch. However, after a year of operation, the company reportedly saw a net loss of around US 1.5 million dollars by the end of 2012, forcing the CEO to liquidate the branch and close all US operations, including the New York branch.[21] 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&.[22][23]

In 2012, JYP Pictures signed a contract with China Eastern Performing Arts Group to co-produce a movie Hold Your Hand, featuring actors who belonged to JYP Entertainment.[24] The subsidiary AQ Entertainment became defunct that December, after which the girl group Miss A was moved to the main label JYP Entertainment.

In December 2013, JYPE announced that J. Tune Entertainment had been officially merged with JYP Entertainment.[25]

Third generation artists' prominence and business expansion
GOT7 in 2019

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 only 49.99%.[26] That same month, Got7, the labels' first boy group since the debut of 2PM and 2AM in 2008, made their debut.[27][28]

2AM's joint contract of Big Hit Entertainment with JYP Entertainment expired later that April, after which three of the 2AM members returned 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.[16] In late August, JYP Pictures and Dongyang World Culture Communication produced the drama Dream Knight, starring Got7 members.[29]

Season three K-pop Star winner Bernard Park signed a contract with JYP to start his solo career.[30] On December 17, 2014, it was reported that J.Y. Park sold JYP Entertainment's HQ building in Cheongdamdong, Seoul to Choi Ki Won, the sister of SK Group's chairman Choi Tae Won, for about $7 million, on the term that JYP Entertainment will still use the building for three years on rent.[31][32]

The success of Twice led JYP Entertainment to become the largest South Korean entertainment company.[33][34]

In 2015, the subsidiary Studio J was formed, debuting its first artist, G soul, on January 9.[35] Two groups were formed that year: the girl group Twice, whose members were chosen from the competitive reality show Sixteen,[36] and Day6.[37] In March 2015, 2AM members Seulong and Jinwoon departed from JYP Entertainment because of their contract expiration,[38] while Jo Kwon renewed his contract.[39] JYP Entertainment later signed a contract with Jax Coco, a Hong Kong-based coconut product company. JYPE and Jax Coco planned 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 a music distribution partnership with China Music Corporation on February 19, 2016.[40] This was followed by JYP Entertainment jointly establishing the Beijing Xin Sheng Entertainment Co. Ltd. with Tencent Music Entertainment the same year,[41] which oversaw the debut of the boy band Boy Story[42] and Got7 member Jackson Wang later announced his solo endeavors in the country.[43]

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 office.[44] 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.[45] 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.[46]

In the first half of 2018, JYP Entertainment became the second largest entertainment company in South Korea when their total market capitalization surpassed YG Entertainment, largely due to the success of Twice and GOT7. It was the first time that JYP Entertainment had placed second among the Big 3 large companies, with SM Entertainment retaining the top position.[47][33] Later that year, JYP surpassed SM to become the largest among the big 3 large companies.[34] In May 2018, JYP became the only Korean entertainment company to rank in the 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.[48] In 2018, JYP Entertainment debuted another boy group called Stray Kids, named after the 2017 reality show of the same name.

Stray Kids is the first dance oriented group to produce their own music since their debut from JYP

On November 1, 2018, JYP Entertainment launched a new program with Mnet named "Super Intern", which showcased the intern process at JYP Entertainment, but the main goal was to turn the interns into permanent marketing management staff for each division of artists.[49] The show started to air on Mnet TV on January 24, 2019.

On January 29, 2019, JYP Entertainment collaborated with Japanese Sony Music to create a local girl group. Park Jin-young held a press conference on local media at Tokyo Sony Music headquarters on the afternoon of January 7, 2019, and gave a presentation on the idea and prospect of Japanese girl group production. The idea of 'GIRLS GROUP PROJECT', a joint project of JYP and Sony Music, was first presented by Park Jin-young during a special lecture at the '2018 Macquarie Emerging Industries Summit' held at the COEX Auditorium in Samseong-dong, Seoul.[50] The project, dubbed Nizi (Rainbow) Project, will start in April 2019, where the selection process of Japanese-speaking 15-22-year-old girls will start in 8 Japanese cities, Hawaii, and Los Angeles, of which 20 will be sent to the JYP Building to be trained for 6 months, with a survival show that will document the process until the eventual 9 members make their debut in November 2020.[51]

ITZY in 2019 debut showcase

On January 21, JYP Entertainment announced they would be debuting a new girl group named Itzy. On the same day, the group's official YouTube account was created and the label's official channel shared a video trailer unveiling the five members. On February 12, the group released their debut single album, It'z Different, with its lead single "Dalla Dalla".

On March 11, 2019, JYP Entertainment reached a new partnership with Sony Music Entertainment's The Orchard. JYPE will distribute both digital and physical releases to key markets in the US, Europe, and beyond through The Orchard to “expand the label’s presence around the world."[52]

On 9 June 2018, Fanling culture media (JYP China) trainee Yao Chen placed 5th in the finale of 'Produce Camp 2019' with 10,764,262 votes and has successfully made the final lineup of project group R1SE after participating in the survival show Produce Camp 2019. Becoming the first signed artist under the company.[53]

On 24 July 2019, JYP Entertainment has announced they will be closing their acting division and some of their actors will be moving on to a new company. The new company they are moving to will be a start-up company that has been created by JYP Entertainment's Vice President Pyo Jong Rok called NPIO Entertainment. With their announcement, JYP Entertainment has revealed that their popular actors such as Jang Hee Ryung, Park Si Eun, and Ryu Won will not be staying on board with the new jointly managed label.[54]

2020–present: Fourth generation K-pop artists

On 6 January 2020, Shinhan Card (CEO Lim Young-jin) announced that it has collaborated with JYPE, to release a JYP Entertainment and Shinhan, 'JYP Fan's EDM Check Card' (JYP Check Card). JYP check cards are available in four types: JYP, GOT7, DAY6 and TWICE.[55]

On February 24, it was announced that JYP Entertainment entered into a "strategic partnership" with Republic Records, with Twice being signed under the label for American promotions.[56]

Business

For over ten years, JYP has been active in music production as well as the recruitment, training, and management of new artists. JYP develops new models for its business system, constantly working to expand businesses into online and mobile segments in both the domestic and international markets.

Artists Management

In order to increase the rate of music production and nurture different types of music according to the broad range of artists in the company, various sublabels and divisions were launched. Artists in the company were grouped and placed in different divisions to speed up content production dramatically, thereby improving profits.[57]

Music Publishing House

Jyp Publishing was created to nurture the company in-house music producers. Unlike other companies, JYPE houses its own music publishing house as a separate company under the label. JYP Publishing Corp 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.

Music Production Company
  • Dreamus company is co-founded JYPE production company, that deals with the production of CDs and DVDs
  • FLO is an online music distribution service company, its co-own with Bighit Entertainment and SM Entertainment

Talent Agency

JYP takes great pride in its talent development program, responsible for discovering and nurturing the talent of stars such as Rain, Wonder Girls, 2PM, 2AM, and Miss A. With such a huge scope of entertainment, there are countless ways to share your talent with JYP. JYP is looking for new talents in every field through its Channel JYP Audition, JYPE Audition China, JYPE Audition Thailand.

Multilabel & Services

JYP Entertainment manages its various artists within the companies:

  • Event Management Company
  • Concert Production Company
  • JYPNATION Superstar is a game app used which features JYPE artist songs. JYPNATION Superstar
  • JYPE Fans is a live streaming service in which JYPE artists put on live broadcasts and chat with their fans. It is also used to update each artist's schedule.
  • JYP CSR JYP Entertainment carries out EDM social contribution activities with Make Wish Foundation.

Joint Ventures

Music distribution

JYP Entertainment's records are distributed worldwide by The Orchard since March 2019.[58]

Holyim

Holyim is a TV drama production company jointly established by JYP Entertainment and KEYEAST Entertainment in June 2009. The studio will "specialise in the production of Korean Wave contents" and enter the global market.[59] The studio was preceded by JYP Entertainment's attempts to get involved in the drama production industry, following in the footsteps of SM Entertainment Group's SM C&C and CJ E&M (now CJ ENM)'s Studio Dragon. In 2010, its produced the highly acclaimed TV series Dream High. The company was terminated in 2013.[60]

J. Tune Entertainment

In December 2010, JYP Entertainment effectively incorporated J. Tune Entertainment.[61][62]

KMP Holdings and KT Music
Further information: KT Music and KMP Holdings

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%.[26]

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.[63]

Smile Gate

On November 17, 2013, JYP Entertainment partnered with Smile Gate to promote the game CrossFire with 2PM and Miss A.[64]

IRIVER Inc

On January 31, 2018, Iriver announced its entry into the Korean music industry. Together with parent company SK Telecom and music labels S.M. Entertainment, JYP Entertainment and Big Hit Entertainment, the company launched a new online music store in the second half of 2018.[65]

JYP CSR

JYP CSR JYP Entertainment and Make-A-Wish Korea signed a MOU to help support children's wishes under JYP's CSR. Their slogan is EDM (Every Dream Matters! : Every Dream in the World is Precious).

JYP intends with the partnership to "help children realize their dreams and provide a miracle to overcome their illnesses".[66]

Beijing Shinsung Entertainment Co., Ltd

On April 5, 2017, Ocean Music and JYPE jointly established the Beijing Xin Sheng Entertainment Co., Ltd. for indoor recreational facilities operation, organization of cultural and artistic exchanges, film and television planning, and other aspects of cooperation. A few months later Park Jin-young, Jackson Wang, Fei, and a 10-year-old JYP Chinese trainee went to China to record a massive roadshow-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 with large-scale auditions and then have a final round to select the members who will be trained in Korea.[67]

NCC Entertainment (NCC Station)

NCC is a jointly produced management team by Tencent music corporation and JYPE Beijing cultural center located in Beijing, China.[41] It is also known as NCCE.[68][69] New Creative Content Entertainment (NCCE) creates higher quality content, leading the trend of entertainment and cultural trends for the Chinese entertainment industry to bring fresh vitality. Currently, it is working to effectively promote its Chinese artists more despite the ban placed on Korean entertainment and to effectively promote Boy Story, a new Chinese boy group, in China.[70]

Nizi Project

On January 29, 2019, JYP Entertainment announced its collaboration with Japanese Sony Music to create a local girl group. The project, dubbed Nizi (Rainbow) Project, will start its audition in April 2019, where the selection process of Japanese-speaking 15-22-year-old girls will start in 8 Japanese cities, Hawaii, and Los Angeles, of which 20 will be sent to the JYP Building to be trained for 6 months, with a survival show that will document the process until the eventual 9 members make their debut in November 2020.[71] Part One of the show premiered in February 2020, featuring the girls' auditions and a training camp in Tokyo. Part Two premiered in April 2020, including the thirteen finalists of the show: Mayuka, Akari, Mako, Miihi, Rima, Momoka, Yuna, Ayaka, Riku, Rio, Maya, Nina, and Riria. The finalists compete in a number of evaluations to make sure they are ready to debut in the girl group with an indefinite number of final members. The show focuses on the collection of "cubes", and by collecting four of them, a contestant can move to the next level.

List of Jyp Entertainment labels

Branches
JYP building in the Gangdong District
  • JYP Beijing Cultural Exchange Ltd (JYPE China) is the Chinese division of JYP Entertainment, it is the company's first official external branch in China. It was opened in 2008 and has two subsidiaries:
  • JYP Entertainment Inc [USA], is the American division of JYP Entertainment, it was established in 2008
  • JYP Entertainment Japan Inc, is the Japanese division of JYP Entertainment, it was established in 2009
  • JYP Entertainment Thailand Inc, is the Thailand division of JYP Entertainment, it was established in 2010. It serves as JYPE South East Asia Official Branch. The Culture gateway to S.E.A.
  • JYP Entertainment Hong Kong Limited,[72] is the Hong Kong division of JYP Entertainment, it was established in 2017.

Divisions
  • JYP Publishing CORP, JYP Publishing is an affiliated company of JYP Entertainment, founded by J.Y. Park in February 2008 with the goal of advancing and globalizing music publishing industry.[73]
  • JYP Foods InC: JYP Foods Inc was founded in 2010.[74] On March 27, 2012, Park Jin-young opened his first restaurant, Kristalbelli, in New York City.[75] It is known for being one of the most expensive Korean BBQ restaurants in America, and for its use of crystal grills.[76][77] Its became defunct in 2013.
    • Studio J bar was created on June 2, 2016, as a collaboration between JYP Entertainment and Y1975, a famous bar in the Chungdam District.[78]
    • The Street is a brunch cafe owned by JYP Entertainment. It has two branches: the main branch is located nearby the JYP Entertainment office building, and the other branch is located in the Gyeongridan area in Itaewon. It is mostly used for interviews or meetings by Jin Young-park and artists under the JYP Entertainment label.[79]
  • JYP Actors is the acting division that was founded in 2011. It is led by JYP Entertainment vice-president Pyo Jong-rok. It has become defunct as of September 1, 2019
  • 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. Its division are:

Subsidiaries (Sub-labels)
  • Studio J
Main article: Studio J

Studio J is an in-house label created by J.Y Park in January 2015. Park described Studio J as a label which will launch JYPE into a new direction in music. The sub-label creates music which rather than appealing to the mainstream, showcases free and deep artists. After a while, G.Soul was revealed to be the first artist in Studio J's roster.[80]

  • AQ Entertainment

Following the successful formation of Miss A in 2010, JYP Entertainment announced the creation of an independent sub-label to manage their promotions. The label currently houses power soloist Baek A-yeon and Miss A. However, in December 2013, during the almagation of JYP Entertainment, AQ Entertainment was dismantled and the artists under the label were moved to the main label.

  • J. Tune Entertainment
Main article: J. Tune Entertainment

J. Tune Entertainment (제이튠엔터테인먼트; formerly known as Rainy Entertainment) is a South Korean record label and entertainment company founded by Rain in November 2007. It is a subsidiary of JYP Entertainment. J. Tune Camp is a subsidiary of J. Tune Entertainment and is its own company. In July 2010, Rain reportedly sold his shares of J. Tune Entertainment to his mentor Park Jin-Young. In December 2010, Park Jin-Young announced that J. Tune Entertainment would be merged with JYP Entertainment. JYP Entertainment become the largest shareholder in J. Tune Entertainment and it is viewed as a strategic alliance between the two companies. In December 2013, both company officially merged.

Philanthropy

On March 18, 2011, JYP Entertainment donated US$300,000 for Japanese disaster relief.[81]

On October 24, 2011, JYP Entertainment and 2PM donated US$130,000 for flood victims in Thailand.[82]

Artists

All of the artists under JYP Entertainment are collectively known as JYP Nation.[83]

Korea

Recording Artists

Independent Artists

Jyp Publishing

Actors

In July 2019, the agency announced changes to its actor management division, confirming that it would be jointly managing together with the new start-up company NPIO Entertainment. It was decided that actors Yoon Park, Shin Eun-soo, Kang Hoon, Shin Ye-eun, Kim Dong-hee, and Lee Chan-sun are staying in the agency for the remainder of their contract periods. All other actors ended their contracts by mutual agreement.[85]

Former artists

Former musicians

Former actors and actresses

Discography
Main article: JYP Entertainment discography

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)

Filmography

Movie
  • 2015: I Wanna Hold Your Hand
  • 2019: Homme Fatale

TV series

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

Programs
  • 2006: MTV Wonder Girls (creation of Wonder Girls)
  • 2008: Hot Blood Men (creation of One Day, further split into 2PM and 2AM)
  • 2012: MTV Diary (reality show for JJ Project)
  • 2014: Real GOT7 (reality show for Got7)
  • 2015: Sixteen (creation of Twice)
  • 2017: Stray Kids (creation of Stray Kids)
  • 2019: Super Intern (creation of full-time JYP Entertainment employees)
  • 2020: Nizi Project

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