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JYP Entertainment

From Wikipedia - Reading time: 29 min

JYP Entertainment Corporation
Native name
JYP 엔터테인먼트
FormerlyTae-Hong Planning Corporation (1997–2001)
Company typePublic
KRX: 035900
Industry
Genre
FoundedApril 25, 1997; 27 years ago (1997-04-25)
FounderJ. Y. Park
HeadquartersGangdong District,
Seoul
,
South Korea
Area served
Worldwide
Key people
Jimmy Jeong (CEO)
Services
  • Artist management
  • Concert production company
  • Event management
  • Music production
  • Music publishing company
  • Record distribution
RevenueIncrease ₩566 billion (US$494.78 million) (2023)[1]
Increase ₩105 billion (US$91.79 million) (2023)[1]
Owner
  • J. Y. Park (15.37%)
  • JYP Entertainment Corporation (6.75%)
  • Others (77.52%)[2]
Number of employees
419[3]
DivisionsSee below
Websitewww.jype.com Edit this at Wikidata
Footnotes / references
[4][5][6]

JYP Entertainment Corporation (Korean: JYP 엔터테인먼트) is a South Korean multinational entertainment and record label conglomerate founded in 1997 by J. Y. Park. Operating as a record label, talent agency, music production company, event management company, concert production company and music publishing house, it is one of the largest entertainment companies in South Korea. The company also operates subsidiary ventures and divisions internationally.

History

[edit]

1997–99: Formation and first generation K-pop artists

[edit]
An image of Park Jin-young, holding a microphone.
Park Jin-young, founder of JYP Entertainment

JYP Entertainment was founded in 1997 by South Korean singer-songwriter Park Jin-young, named after his stage name, J. Y. Park, as Tae-Hong Planning Corporation. In 2001, the company was retitled as JYP Entertainment.[7] In 1997, the company signed its first artist – Pearl.

In 1999, entertainment company SidusHQ introduced the future members of boy band G.o.d to Park, as their producer and mentor. In cooperation with SidusHQ, JYP Entertainment oversaw the formation of g.o.d, which would make their debut appearance on January 13, 1999.[8] The group was managed by SidusHQ, with their first album, Chapter 1, being produced by Park.[9]

2000–09: Early success and second generation K-pop artists

[edit]

In December 2000, JYP Entertainment signed Rain as a trainee, who made his debut two years later in May 2002.[10][11] Rain would then rise to become a commercial success throughout and beyond Asia,[12] which was seen when his third studio album, It's Raining, went on to record cumulative sales of over 1 million copies in seven Asian countries, including South Korea.[13]

On December 27, 2002, the company's first boy group was a four-member vocal oriented group Noel which failed to attract popularity. The company then turned its focus towards the duo brothers One Two in 2003. In 2004, after the boy band g.o.d's group contract with SidusHQ ended, they signed a contract with JYP Entertainment.[14]

An image of g.o.d. on the stage.
g.o.d has won four Grand Prizes for Best K-pop Group Artist.

Other notable artists that debuted under JYP Entertainment, from the years 2000 to 2005 include Park Ji-yoon, Byul, Lim Jeong-hee, Ryanga Rhanga [ko], and Ivy. In May 2006, the company formed its first girl group, Wonder Girls,[15] who became a commercial success and was the first South Korean group to enter the Billboard Hot 100 in 2009, with their song "Nobody".[16] Their success lead to a management deal with the Jonas Group, which led the group to open the Jonas Brothers' world tour in select cities.[17]

In 2007, Rain left JYP Entertainment and established his own agency called J. Tune Entertainment.[18]

An image of the Wonder Girls on the stage, wearing identical clothes.
Wonder Girls in 2008. The first South Korean group to enter the Billboard Hot 100.[16]

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 in the same year.[19] 2AM was jointly contracted with Big Hit Entertainment.[20] Later in October, the JYP Beijing Center was opened, as the company's China branch. In that same year, the Creative Artists Agency included JYP Entertainment in its roster of high-profile clientele.[21][22]

Expanding its endeavors into the drama production industry following in the footsteps of SM Entertainment Group's SM C&C and CJ E&M's Studio Dragon – JYP Entertainment jointly established the television drama production company Holym with Key East Entertainment in June 2009.[23] Holym later announced its first major television drama production, Dream High, in 2010.[24]

2010–17: Joint ventures and third generation K-pop artists

[edit]

In March 2010, JYP Entertainment made a joint venture with SM Entertainment, YG Entertainment, Star Empire Entertainment, Media Line, CAN Entertainment and Music Factory Entertainment to establish KMP Holdings, the official distributor of releases from these companies.[25] On December 28, 2010, JYP Entertainment became the largest shareholder of J. Tune Entertainment.[18][26] The subsidiary AQ Entertainment was later formed and introduced the Chinese-Korean girl group Miss A.

An image of Miss A, with the logo of Armani Exchange at the back.
Miss A in 2013. The first act to have their debut song reach atop the Gaon Digital Chart.[27]

In November 2011, the American based subsidiary JYP Creative was established. Park invested approximately US$1.2 million in the branch. After a year of operation, the company saw a net loss of around US$1.5 million by the end of 2012, leading to the liquidation and closure of the branch, including the New York branch.[28] 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&.[29][unreliable source?]

In 2012, JYP Pictures signed a contract with China Eastern Performing Arts Group to co-produce a movie Hold Your Hand, featuring actors who were signed to JYP Entertainment.[30]

An image of GOT7, all wearing a black suit.
Got7 in 2019.

On June 20, 2013, the merger plan for the publicly listed JYP Entertainment and the non-listed JYP was announced.[31][32] The merger was approved on October 17.[33] Miss A and Baek A-yeon, also joined JYP Entertainment due to the merger.[34][35] On August 25, 2013, JYP Entertainment and KeyEast terminated their joint production enterprise, Holym.[36][unreliable source?] On November 17, 2013, the company partnered with Smilegate to promote the video game game Crossfire, with 2PM and Miss A.[37]

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%.[38] In the same month, Got7, made their debut.[39][40] 2AM's joint contract of Big Hit Entertainment with JYP Entertainment later in April ended, after three of the 2AM members returned to JYP Entertainment, and member Lee Chang-min stayed with Big Hit Entertainment, to continue his career and as part of the duo Homme.[20] In August, JYP Pictures and Dongyang World Culture Communication produced the drama Dream Knight, starring Got7 members.[41] Season three K-pop Star winner Bernard Park signed a contract with JYP Entertainment to start his solo career, and making his debut on October 6.[42] On December 17, J.Y. Park sold the company's headquarters building in Cheongdam-dong, Seoul to Choi Ki-won, for approximately $7 million, on the term that JYP Entertainment will still use the building for three years on rent.[43][44]

An image of Twice at the red carpet.
The success of Twice led JYP Entertainment to become the largest South Korean entertainment company.[45][46]

The subsidiary Studio J was formed on January 9, 2015, in line with JYP Entertainment's goal to "promote free and deep artists that create authentic music rather than appealing to the mainstream demand." The first artist on Studio J's roster was G.Soul, who debuted on the same day.[47][48] In March, 2AM members Seulong and Jinwoon departed from the company, because of their contract expiration, while Jo Kwon renewed his contract. The company stated 2AM remained intact and would be promoting as a group.[49] On April 15, the company signed a contract with Jax Coco, a Hong Kong-based coconut product company. Both companies planned to launch coconut oil, coconut flakes, and other related products at major department stores and supermarkets in South Korea.[50] In September, rock band Day6 debuted.[51] In October, girl group Twice debuted. The members of the group were chosen from the competitive reality show Sixteen.[52]

In February 2016, JYP Entertainment established a music distribution partnership with China Music Corporation.[53] It was followed by JYP Entertainment jointly establishing Beijing Xin Sheng Entertainment Co. Ltd. with Tencent Music in the same year,[54] which oversaw the debut of the Chinese boy band Boy Story.[55] Got7 member Jackson Wang also announced his solo endeavors in the country.[56]

In July 2017, JYP Entertainment acquired a property worth 20.2 billion KRW in Seongnae-dong, Gangdong District, Seoul to be used as its new office.[57] A partnership with Dailymotion, Europe's largest video platform, was signed to open its artist channel on its platform to secure a more global fan base.[58][59]

2018–present: Further success and fourth generation K-pop artists

[edit]
An image of Stray Kids.
Stray Kids was the first dance oriented group to produce their own music, since their debut.

On January 31, 2018, JYP Entertainment entered into a music business agreement with SM Entertainment, Big Hit Entertainment, and SK Telecom to launch a new music platform Flo, which will utilize various new technologies such as artificial intelligence and 5G networking. SK Telecom affiliate Iriver Inc would be responsible for handling the music distribution.[60][61][62] In the first half of 2018, JYP Entertainment became the second largest entertainment company in South Korea, mainly due to the success of Twice and Got7.[63] On March 26, a new boy group Stray Kids debuted, named after the 2017 reality show of the same title.[64] In May, the company became the sole South Korean entertainment company to rank in Financial Times magazine's "FT 1000: High-Growth Companies Asia-Pacific" list.[65] On August 30, the company's shares closed at 31,300 KRW, pushing the company's market capitalization to 1.09 trillion KRW.[46]

An image of Itzy.
Itzy in their 2019 debut showcase.

On January 21, 2019, JYP Entertainment announced its next girl group, Itzy. The group released their debut single album, It'z Different in February, featuring the single "Dalla Dalla".[66] On January 24, the program Super Intern premiered on Mnet, which featured the internship process at JYP Entertainment, with the goal of turning the interns into permanent marketing management staff.[67] The show premiered on Mnet on January 24. On January 29, plans of creating a Japanese girl group, under their vision "JYP 2.0: Globalization By Localization" was announced.[68] On the season finale of Nizi Project, the line-up for the new girl group, NiziU, was revealed. The group is a partnership with Sony Music Entertainment Japan, for its activities in Japan.[69][70] The group made their debut on December 2, 2020.[71] On March 11, 2019, JYP Entertainment made a partnership with Sony Music Entertainment's The Orchard. JYP Entertainment would distribute both digital and physical releases to key markets in the internationally through The Orchard in order to "expand the label's presence around the world."[72] On June 8, Fanling Culture Media trainee Yao Chen placed 5th in the finale of Produce Camp 2019 has made the final lineup of project group R1SE. The group made their debut on the same day.[73] On June 17, JYP and Make-A-Wish Korea signed a memorandum of understanding to help support children's wishes under JYP Entertainment's "Every Dream Matters!" campaign as part of their corporate social responsibility. Under the agreement, the company would be carrying out various social responsibility activities with its artists, employees and fans in order to support campaigns and initiatives for children with incurable diseases.[74] On July 24, JYP Entertainment announced the closure of their acting division and would jointly manage its actors with the new start-up company, Npio Entertainment – created by JYP Entertainment Vice President – Pyo Jong-rok. Actors Jang Hee-ryung, Park Si-eun and Ryu Won left the company. Actors Yoon Park, Shin Eun-soo, Kang Hoon, Shin Ye-eun, Kim Dong-hee and Lee Chan-sun stayed in the company for the remainder of their contract periods.[75][76]

On January 6, 2020, Shinhan Card collaborated with JYP Entertainment to release four "JYP Fan's EDM Check Cards" – JYP, Got7, Day6 and Twice. Certain percentages of the amount used when making payments using the check cards were to be donated to Make-A-Wish Korea.[77] On February 24, Twice was signed under Republic Records for American promotions.[78] On August 4, a collaboration with SM Entertainment to establish Beyond Live Corporation, a joint company for virtual concerts was announced.[79][80] On November 17, JYP Entertainment invested 5 billion KRW in Naver Z, the developer of the online avatar app Zepeto.[81]

On January 10, 2021, all members of Got7 left JYP Entertainment upon the completion of their 7-year contract.[82] On April 26, JYP Entertainment and P Nation announced to form their new boy group in Loud. It premiered on June 5 on SBS.[83] On July 12, the second season of Nizi Project was announced as a Global Boys Audition.[84] On November 1, JYP Entertainment announced its new rock band Xdinary Heroes. The band released their debut single "Happy Death Day" on December 6.[85][86]

An image of Nmixx.
Nmixx in 2023.

On January 26, 2022, a new girl group Nmixx was announced for a February 22 debut, with their debut single album, Ad Mare.[87] After Twice's success in the U.S., JYP Entertainment expanded their partnership with Republic Records in February, by signing both Stray Kids and Itzy under Republic Records for promotions.[88] In April, the market cap of JYP Entertainment had rose from 1.33 trillion KRW in the previous year to 2.24 trillion KRW, an increase of 1 trillion KRW in the first three months of 2022. The company's stock prices soared to 66,200 KRW on April 8, surpassing company's record.[89] On July 12, all members of Twice renewed their contracts with the company.[90] On September 26, all members of Day6 renewed their contracts with the company.[91] In December, Jinni both left the company and the group Nmixx, due to personal reasons.[92]

In 2023, the competition show A2K and the second season of Nizi Project both aired. A2K led to the formation of the group Vcha, a joint venture between JYP Entertainment and Republic Records.[93] In the second season of Nizi Project, it concluded with the line up for the group Nexz – a joint venture with Sony Records Japan.[94] Both groups released their debut single in 2024.[95][96]

In August 2024, Innit Entertainment was established – the company's management subsidiary for actors and artists.[97]

On November 22, JYP announced the launch date of their upcoming boy group named KickFlip, consisting of a total of 7 members.[98]

Joint ventures

[edit]

Music distribution

[edit]

JYP Entertainment's records are distributed worldwide by The Orchard since March 2019.[99]

KMP Holdings and KT Music

[edit]

In March 2010, KMP Holdings was established via a joint venture between JYP Entertainment, SM Entertainment, YG Entertainment, Star Empire, Media Line, CAN Entertainment and Music Factory Entertainment. KMP Holdings was acquired by KT Music in November 2012. 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%.[38]

United Asia Management

[edit]

In 2011, JYP Entertainment joined forces with SM Entertainment, YG Entertainment, KeyEast, AMENT and Star J Entertainment to form United Asia Management in an effort to promote Korean pop music internationally.[100]

FLO

[edit]

On January 31, 2018, iRiver announced its entry into the South Korean music industry. Together with parent company SK Telecom and music labels SM Entertainment, JYP Entertainment and Big Hit Entertainment, the company launched a new online music store, FLO, in the second half of 2018.[101]

Beijing Shinsung Entertainment

[edit]

On April 5, 2017, Ocean Music and JYP Entertainment 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 roadshow-style audition show to recruit more trainees with the goal of creating 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.[102]

NCC Entertainment (NCC Station)

[edit]

NCC Entertainment is a jointly produced management team by Tencent Music Corporation and JYP Beijing Cultural Exchange Ltd located in Beijing, China.[54] It is working to promote its Chinese artists more, despite the ban placed on Korean entertainment and to further promote the Chinese boy group, Boy Story in China.[103]

Divisions and labels

[edit]

Divisions

[edit]
  • JYP Beijing Cultural Exchange Ltd (JYPE China): The Chinese division of JYP Entertainment. Opened in 2008, it was the company's first external branch. It has two subsidiaries:
    • Fanling Culture Media Ltd
    • Beijing Shisung Ent. Ltd (joint venture with Tencent)
      • New Creative Culture
  • JYP Entertainment USA Inc: The American division of JYP Entertainment, it was opened in 2007.[104] It was reestablished in 2022.[105]
  • JYP Entertainment Japan Inc: The Japanese division of JYP Entertainment, established in 2009.
  • JYP Entertainment Hong Kong Ltd:[106] The Hong Kong division of JYP Entertainment, established in 2017.
  • JYP Entertainment Latin America: The Latin American division of JYP Entertainment, established in 2024.[105]
  • JYP Publishing Corp: An affiliated company founded in February 2008. It houses record producers and songwriters under JYP Entertainment.[107]
  • JYP Foods Inc: Founded in 2010.[108]
    • Studio J Bar – opened on June 2, 2016, as a collaboration between JYP and Y1975, a bar in the Chungdam District.[109]
    • The Street – a brunch café with two branches. The main branch is located nearby the JYP Entertainment office building, and the second branch is located in the Gyeongridan area in Itaewon. The café is used for interviews or meetings held by J. Y. Park and artists under JYP Entertainment.[110]

Subsidiaries

[edit]
  • Studio J: An in-house label established by J. Y. Park in January 2015, with the goal of putting focus on independent artists outside of the mainstream K-pop aesthetic. The singer G.Soul was the first artist under Studio J.[47][48] The label currently houses the rock bands, Day6 and Xdinary Heroes.[111]
  • Npio Entertainment: An acting division established in 2019, created by Pyo Jong-rok.[75]
  • Squ4d:[a] JYP Entertainment's fourth (hence the number "4" in its name) artist management label. Led by Lee Ji-young, it currently houses Nmixx.[112][113]
  • Innit Entertainment: A management subsidiary established in 2024, to broaden the range of its artists to include ballad, trot, R&B singers and actors.[97]

Defunct

[edit]
  • JYP Actors: The company's acting division founded in 2011. Led by JYP Entertainment vice-president Pyo Jong-rok. In September 2019, JYP Actors was closed, with its actors moving into a new start-up company, Npio Entertainment.[76]
  • JYP Pictures: The company's film and television drama production division founded in March 2011.
    • JYP Pictures Co., Ltd Korea: Established in 2013, it was closed by September 1, 2019.
    • JYP Pictures Co., Ltd China: Established in 2014.
  • JYP Creative. The company's American subsidiary corporation, established in November 2011. It was liquidated in 2012, after a net loss of $1.5 million.[104]
  • J. Tune Entertainment: A South Korean record label and entertainment company founded by former JYP artist Rain in November 2007. In December 2010, JYP Entertainment had become the largest shareholder of J. Tune Entertainment.[26] In December 2013, J. Tune Entertainment was merged to JYP Entertainment.

Philanthropy

[edit]

During the COVID-19 pandemic, JYP Entertainment donated US$410 thousand to the Community Chest of South Korea on February 28, 2020.[114] On March 8, 2022, the company made a donation ₩300 million to the Hope Bridge Disaster Relief Association, to help the victims of the massive wildfire that started in Uljin, Gyeongbuk which had spread to Samcheok, Gangwon.[115] On February 12, 2023, the company donated 500 million won through World Vision International, to help the aftermath of the 2023 Turkey–Syria earthquakes.[116]

Current artists

[edit]

Artists under JYP Entertainment are collectively known as "JYP Nation".[117]

Musicians

[edit]

Soloists

[edit]

Groups

[edit]

Bands

[edit]

Actors and actresses

[edit]

Actors under Npio Entertainment, a division under JYP Entertainment.[121]

Publishing

[edit]

Artists under JYP Publishing, a division under JYP Entertainment.[122]

Producers and songwriters
  • J. Y. Park "The Asiansoul"
  • Hong Ji-sang
  • Sim Eun-jee
  • Tommy Park
  • Woo Min Lee (collapsedone)
  • Honey Pot
    • Cho Hyun-kyung
    • Park Yong-woon
  • Garden
  • Tigerseoul
  • Lee Hae Sol
  • Kim Ju Hyeong
  • Versachoi
  • HotSauce
    • Yang Jeong-sik
    • Mary
  • Trippy
  • Selah
  • Saint
  • Seoha
  • Minkyu
Lyricist
  • Jennifer Eunsoo Kim
Singer-songwriter
  • Kass

Former artists

[edit]

Former musicians

[edit]

Soloists

[edit]

Groups

[edit]

Former groups signed to JYP Entertainment, which had all their members leave the company.[141]

Group members

[edit]

Former artists signed to JYP Entertainment as a group member, with their respective group still under the company as an active group.

Former actors and actresses

[edit]

Concerts

[edit]
Lists of concerts by JYP Entertainment
Concert Date(s) City Country Venue
JYP Nation 2010 "Team Play"[166] December 24, 2010 Seoul South Korea Olympic Gymnastics Arena
JYP Nation in Japan 2011[167] August 17–18, 2011 Saitama Japan Saitama Super Arena
JYP Nation 2012[168][169] August 4, 2012 Seoul South Korea Olympic Gymnastics Arena
August 18–19, 2012 Tokyo Japan Yoyogi National Gymnasium
JYP Nation 2014 "One Mic"[170][171] August 9–10, 2014 Seoul South Korea Jamsil Arena
August 30, 2014 Hong Kong AsiaWorld-Expo
September 5–7, 2014 Tokyo Japan Yoyogi National Gymnasium
December 13, 2014 Bangkok Thailand Impact Arena
JYP Nation 2016 "Mix & Match"[172][173] August 6–7, 2016 Seoul South Korea Jamsil Arena
September 2–4, 2016 Tokyo Japan Yoyogi National Gymnasium

Notes

[edit]
  1. ^ Pronounced as "squad".
  2. ^ a b c d e Current member of 2PM.
  3. ^ Under JYP Beijing Cultural Exchange Ltd.'s Fanling Culture Media Ltd.
  4. ^ a b c d e Current member of Day6.
  5. ^ a b c d Current member of Twice.
  6. ^ Under JYP Beijing Cultural Exchange Ltd.'s New Creative Content Entertainment.
  7. ^ a b c d Under JYP Entertainment Japan Inc., and co-managed with Sony Music Entertainment Japan.
  8. ^ a b c d Under JYP Entertainment's Studio J artist management label.[111]
  9. ^ Under JYP Entertainment's Squ4d artist management label.
  10. ^ Under JYP Entertainment USA Inc., and co-managed with Republic Records.[93]
  11. ^ After leaving JYP Entertainment, Ok Taec-yeon remains as a member of 2PM.[153]
  12. ^ After leaving JYP Entertainment, Hwang Chan-sung remains as a member of 2PM.[154]

References

[edit]
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