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JYP Entertainment Corporation
Company typePublic
KRX: 035900
Industry
Genre
FoundedMay 1997; 27 years ago (1997-05)
FounderJ.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
  • Park Jin-young (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
Subsidiaries
  • Studio J
  • JYP Pictures co., Ltd (China)
  • JYP Store
  • Beijing Xin Sheng Entertainment Co., Ltd
  • NCC EntertainmentNcc station
JYP Entertainment Co., Ltd
Native name
JYP 엔터테인먼트 or 제이와이피엔터테인먼트
Company typePrivate
IndustryEntertainment
FoundedMay 1997 (1997-05)
FounderJ.Y. Park
FateMerged with JYP Entertainment corporation
HeadquartersGangnam District,
Seoul
,
South Korea
Area served
South Korea
Key people
Wook Jung (CEO)
ServicesDistribution, Entertainment
Number of employees
59
Subsidiaries
  • AQ Entertainment

JYP Entertainment Corporation (Korean: JYP 엔터테인먼트) is a South Korean entertainment company established by Park Jin-young in 1997. The company operates as a record label, talent agency, music production company, event management and concert production company, and music publishing house. It is currently one of the largest entertainment companies in South Korea.[4][5]

History

Park Jin-young, founder of JYP Entertainment.

JYP Entertainment was founded in 1997 by South Korean singer and record producer Park Jin-young as "Tae-Hong Planning Corporation", which eventually became "JYP Entertainment" in 2001. The studio and headquarters of its US branch, JYP USA, officially opened in New York City in June 2007.

On July 1, 2001, Park Jin Young, the founder and CEO of JYP Entertainment, held an open audition called the Talent & Live Voice Project 99% Competition in order to find talented young females that would be trained for his planned idea to create his first girl group.[6][better source needed][7]

In December 2000, JYP Entertainment signed Rain as a trainee, and he debuted in April 2002 as a solo singer[8]

In May 2006, a documentary program filmed and aired on MTV Korea, revealed the name of Park Jin Young's girl group as the Wonder Girls. The program introduced the four members of the Wonder Girls which were Sun Ye, So Hee, Hyun A, and Sunmi. Ye Eun was later recruited as the fifth member of the group and not long after her addition, Wonder Girls official debut was held at Show! Music Core where they performed their hip-hop song "Irony" on February 10, 2007. In late July, Hyuna was withdrawn from the group by her parents and was replaced by Yubin, a trainee from Good Entertainment.[9]

In the early 2008s, JYP Entertainment announced that they would debut a new boy group, JYP Entertainment launched it own first documentary-style reality television program on South Korea's music channel M.Net. The show "Hot Blood Men", provided a behind-the-scenes view into JYPE's training grounds and the life of a JYPE trainee. Two teams of male trainees competed against each other for the chance to debut with the label as the company's next boy band. The conclusion of the reality series saw the emergence of the boy band "ONE DAY" which were later split into two groups 2PM and 2AM, who debuted in 2008.[10] In October 2008, JYP Entertainment further expanded by opening 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.[11][12]

In June 2009, JYP Entertainment and the Jonas Group signed a management deal that allowed the Wonder Girls to join the Jonas Brothers' World Tour in selected cities as the opening act.[13]

Wonder Girls in 2008

On July 1, 2010 miss A, the second girl group debut under JYPE in-house subsidiary AQ Entertainment . In early July, Rain began to sell J.Tune Entertainment 's stock , after which he negotiated with Park Jin-yong and hoped to hand over the company to Park Jin-yong before enlisting.[14] On December 28, Park Jin-yong and JYP Entertainment employees invested about 8.5 billion won in J. Tune Entertainment as a third-party rights issue to become the largest shareholder of J. Tune Entertainment. On December 30, both Park Jin-yong and miss A all signed a contract with J.Tune Entertainment.

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%.[15]

On February 16, 2010, J.Tune Entertainment convened an extraordinary general meeting of shareholders, to merge JYP entertainment and J.Tune entertainment into one, it became effective on February 23, and changed its name to JYP Entertainment making JYP Entertainment into a listed company, while changing its original name of JYP Entertainment co,.Ltd to JYP Entertainment Corporation ((주) 제이 와 이피). On September 13, JYP Entertainment held a “ONE JYP Investors Meeting” where JYP Entertainment President Jung Oak discussed the implications of a merger between the two companies, During the meeting, JYPE President Jung Oak revealed that “While JYP Entertainment so far has been a company that has focused on the production of singers and music, starting from this year we will be increase the scope of our business to include other ventures such as movie, drama production, musicals, actors and tour packages.”

He has also stated the JYP Entertainment plans to increase its focus on the overseas market. Their push into the Japanese market was delayed due to their push in the U.S. market but they now plan to strengthen their business in Japan along with creating a branch in Thailand by Fall of this year. They also revealed that they will now be producing their concerts internally, ending their concert production relationship with CJ E&M.[16][17] He also stated that JYPE will set up concert production team, these changes are expected to JYP entertainment more profit.

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.[18]

On October 5, 2012.JYP Entertainment announced the debut of 15& a female duo made of the winner of K-pop Star (season 1) Park Jimin and Baek Yerin a female trainee and contestant of the TV show Star King (nicknamed "ballad genius").[19][20]

On October 29, 2013, JYP Pictures signs a contract with China Eastern Performing Arts Group to co-produce a movie "Hold Your Hand", featuring actors belonging to JYP Entertainment.[21] AQ Entertainment, a subsidiary of the JYP Entertainment, became defunct on December 9, effectively moving girl group Miss a to the main label.

On January 1, 2014. JYP Entertainment announced GOT7, as the label's third boy group following 2PM and 2AM. GOT7 was described as a hip-hop group that incorporates martial arts tricking and b-boying styles in their performances.[22] Following the end of the joint contract between Big Hit and JYP Entertainment in April 2014, three of the 2AM members returned to JYP, while Lee Chang-min stayed with Big Hit in order to continue with his solo career and as part of the duo Homme.[23] In late August, JYP Pictures and Dongyang World Culture Communication produced the drama " Dream Knight ", starring GOT7 members.

On October 13, 2014, kpopstar S3 winner Bernard Park debuted as a solo artist[24] 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.[25][26]

On January 8, 2015, Park Jin-young on Twitter, announced the establishment of a new in-house subsidiary Studio J, the first artist to debut under the label was G soul on January 9 , the subsidiary of the music type will be deeper and more diverse.[27] On February 11, 2015, Park Jin-young announced that the lineup of JYP's upcoming seven-member girl group would be decided through Sixteen, a competition survival show that would air on Mnet later that year. The show aired in May, the winners debuted on October 20, 2015 as members of Twice[28] In March 2015 Seulong and Jinwoon departed from JYP Entertainment upon their contract expiration,[29] while Changmin ended his contract in August 2015 and Jo Kwon renewed his contract.[30]

On May 17, JYP Entertainment signs 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. On September 7, 2015, JYP Entertainment debuted their first boy band, DAY6[31][32]

On February 19, 2016, JYP Entertainment establish music distribution partnership with China music cooperation.[33]

In April 2017, Tencent music Entertainment and JYPE China(NCC Station) jointly established the Beijing Xin Sheng Entertainment Co., Ltd to learn from its artists to develop model, and its offline art school and brokerage firm Transport the trainees[34]

On June 26, 2017, JYP Entertainment announced the upcoming release of GOT7 Jackson's first solo album in China, as long as the establishment of a dedicated management team named TEAM WANG Jiaer Studio (TEAM WANG Co,. Ltd.) for his activities in the country.[35]

JYP building in the Gangdong District

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.[36]

On July 27, 2017, JYP Entertainment has signed a partnership with DailyMotion, Europe's largest video platform, to open its artist channel on its platform to secure a more global fan base.[37]

On August 4, 2017, JYPE China subsidiary NCC Station Entertainment announced through their weibo page that they would be creating a new Chinese boy group "BOY STORY", is the first Chinese juvenile hip-hop combination launched by Tencent Music Entertainment Group (TME) and JYPE CHINA (NCC Ent.). The company plans to use a year to debut preheat, September 1, 2017, will be a public combination of the first single and MV, the next year will also be released three singles +3 MV, August 2018 Published the first mini album, announced the official debut.[38]

On January 27, 2018, JYP became the second largest entertainment company in Korea According to the brokerage house(KOSDAQ), the total market capitalization was announced at JYP's 560.9 billion won and YG's at 533.8 billion won. It was the first time that JYP had surpassed YG and climbed to 2nd place in 'Big 3' large company.[39]

JYP agreed on a music business agreement at SK Telecom headquarters in Euljiro on January 31 with SM, BIG HIT 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.[40]

JYP announced on January 31, "We have recently concluded a contract with 5 members including 2PM members Jun-k, Nichkhun, Woo-young, Jun-ho, and Chan-sung."

Taecyeon, who enlisted before the end of the contract last year, is currently in military service and is expected to resign in 2019.[41] The remaining members of 2PM completed their renewal on January 31, 2018,[42] and are named Directors of External Affairs the next day.[43]On 25, July, 2018, however, Taecyeon decided not to re-sign with the company, and joined 51K Entertainment. However, he would continue promoting with 2PM.[44]

As of May 2018, JYP is the only Korean Entertainment that got ranked in Financial Time 'FT 1000: High-Growth Companies Asia-Pacific'

They are ranked #177 out of all 1000 companies and #12 out of all 104 Korean companies. It's based on 11 Asian Countries and top 1000 companies worldwide from 2013 ~ 2016.[45]

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.[46][47]

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%.[15]

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.[48]

Smile Gate

On November 17, 2013, JYP Entertainment partnered with Smile Gate to promote the game CrossFire with 2PM and Miss A.[49]

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.[50]

Subsidiaries

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.[51]

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.[52]

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.[53] On March 27, 2012, Park Jin-young opened his first restaurant Kristalbelli in New York City.[54] It is known as the most expensive Korean BBQ restaurant in America, and for its use of crystal grills.[55][56]

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.[57]

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.[58]

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.[59]

NCC Entertainment(NCC Station)

This is a jointly produced entertainment company by Tencent music corporation and JYPE Beijing cultural center located in Beijing, China.[34] It's also known as NCCE[60][61] 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.[62]

Philanthropy

On March 18, 2011, JYP Entertainment donated US$300,000 towards Japanese disaster relief.[63]

On October 24, 2011, JYP Entertainment and 2PM donated US$130,000 for flood victims in Thailand.[64]

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.

Choreographers
  • Jonte' Moaning
  • Kim Hwa-yeong
  • Lia Kim
  • hyojin-lee-yong
  • Park Nam-yong
  • Tomoya Minase
  • WooNg (Kim Hyungwoong)

Subsidiaries

Actors

Former artists

Former musicians

Former actors and actresses

Discography

Main article: JYP Entertainment 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 : Seizan Building

2F, 2-12-28, Kita-Aoyama Minato-ku, Tokyo, 107-0061 Japan

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

Futong East Road, Chaoyang District, Beijing 100012, China

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  57. ^ "Studio J – Attractions". Visit Seoul. December 26, 2016. Archived from the original on April 2, 2017. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  58. ^ "SM-YG-JYP가 제안하는 한류스타일 미식 여행!". Visit Seoul. Seoul Metropolitan Government. Archived from the original on August 1, 2017. Retrieved June 16, 2017. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  59. ^ http://www.qdaily.com/cooperation/articles/yidian/26924.html
  60. ^ "[클릭 e종목]"JYP Ent., 2020년까지 사상 최대 실적 지속"".
  61. ^ "JYP, 2018년 도약…中 아이돌 데뷔까지-하나". 15 November 2017.
  62. ^ "微博". m.weibo.cn.
  63. ^ "Donations from Korean Stars ★ for Japanese Disaster Relief Exceed $5 Million USD". Soompi. Retrieved June 16, 2017.
  64. ^ "2PM and JYP Entertainment Donate $130,000 USD for Flood Victims in Thailand". Soompi. Retrieved June 16, 2017.
  65. ^ "Creators". JYP Publishing. JYP Entertainment. Retrieved June 16, 2017.
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  67. ^ https://en.wikipedia.org/wiki/Park_Jin-young_(entertainer,_born_1994)
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  72. ^ "miss A Officially Disbands After 7 Years". Soompi. December 26, 2017. Retrieved March 24, 2018.
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  85. ^ Yeon Jeong Hoon to leave
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