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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
  • J. Y. Park (18.72%)
  • JYP Entertainment Corporation (8.02%)
  • Korea Investment Value Asset Management Co., Ltd. (6.99%)
  • MEDIAcorp, Inc (5.09%)
  • Others (62.4%)
[1]
Number of employees
235[2]
Divisionssee list
Subsidiariessee list

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

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

History

1997–2005: Formation and early success and first generation K-pop

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 that expanded outside of South Korea and become successful.[8] 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 his 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.[9].

Korea’s Most Beloved Boy Idol, won the ‘Grand Prize’ 4times as ‘Best K-Pop Group Artists’

Other notable artists that debuted during these era includes: pearl (the company first female slo artist), Noel, Park Ji-yoon, Byul, Lim Jeong-hee, one two, Ryanga Rhanga, ivy.

2006–2011: Mainstream success of its second generation artists

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 the Wonder Girls to open 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.

Miss A in 2011

2011–2013: 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.[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, JYP Pictures signed a contract with China Eastern Performing Arts Group to co-produce a movie Hold Your Hand, featuring actors whom belonged to JYP Entertainment.[23] 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[24]

2014–present: Third generation artists prominence and business expansion

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%.[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 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.[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 start his solo career.[29] 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.[30][31]

The success of Twice lead JYP Entertainment to become the largest South Korean entertainment company.[32][33] and the current Nation’s Best Female Idol with Unparalleled Popularity especially in Korea and Japan breaking All Records set by Previous Female Group Artists

In 2015, the subsidiary Studio J was formed, debuting its first artist, G soul, on January 9.[34] Two groups were formed that year: the girl group Twice, whose members were chosen from the competitive reality show Sixteen,[35] and Day6.[36] In March 2015, 2AM members Seulong and Jinwoon departed from JYP Entertainment because of their contract expiration,[37] while Jo Kwon renewed his contract.[38] 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 in February 19, 2016.[39] This was followed by JYP Entertainment jointly establishing the Beijing Xin Sheng Entertainment Co. Ltd. with Tencent Music Entertainment the same year,[40] which oversaw the debut of the boy band Boy Story.[41] Got7 member Jackson Wang later announced his solo endeavors in the country.[42]

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.[43] 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.[44] 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.[45]

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. It was the first time that JYP Entertainment had placed second among the Big 3 large companies, with SM Entertainment retaining the top position.[46][32] Later that year, JYP surpassed SM to become the largest among the big 3 large companies.[33] 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.[47] In 2018, JYP Entertainment debuted another boy group called Stray Kids, named after the 2017 reality show of the same name.

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

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.[48] 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.[49] 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.[50].

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".

currently the fastest South Korean girl group to achieve their first music show win

On the 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."[51]

On the 9th of 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[52].

On the 24th of 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. 

'Hello, this is JYP Entertainment.
JYP Entertainment has decided it 
will be joint managing its actor 
division together with NPIO 
Entertainment starting September 1
Founded by JYP vice president Pyo 
Jong Rok, npio Entertainment is a 
new agency specializing in the 
management of actors and is also a 
drama and film production company.
After discussions with all of the 
JYP Entertainment actors, it has 
been decided that Yoon Park, Shin 
Eun Soo, Kang Hoon, Shin Ye Eun, 
Kim Dong Hee, and Lee Chan Sun 
will join npio Entertainment for 
the remainder of their contract 
periods.

All of our other actors will be ending their contracts after mutual agreement, and they are able to freely search for their new agency. Thank you. JYP 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 onboard with the new jointly managed label. [53]

Business

JYP Entertainment is South Korea’s leading entertainment company. For over ten years, JYP has been active in music production as well as the recruitment, training, and management of new artists. JYP expertly develops new models for its unique business system, constantly working to expand businesses into online and mobile segments in both the domestic and international markets. JYP Entertainment business model, which its concept calls as "company in company" (CIC). The company also plans to set up another one in the future.

Music Production company

In other to increase the rate of music production in the company and to nurture the different type of music according to their broad range of artists in the company, Different sublabels and divisions was launched in the company.Artists on the company were grouped and placed in different divisions to speed up content production dramatically, thereby improving profits.[54].

Jyp Music Factory

Jyp Publishing was created to nurture the company in-house music producers. JYP Entertainment 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.

Talent development program

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 AuditionCite error: There are <ref> tags on this page without content in them (see the help page).

Multilabel

Jyp Entertainment manages its various artists within the companies under its Music Production Company

Partnerships & Joint Ventures

Music distribution

JYP Entertainment's records are distributed worldwide by The Orchard since March 2019.[55]

Holyim

In June 2009, it was officially announced that JYP Entertainment and the Jonas Group signed a management deal for Wonder Girls. Wonder Girls joined the Jonas Brothers' World Tour 2009 in selected cities and performed the 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.[56][57]

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%.[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.[58]

Smile Gate

On November 17, 2013, JYP Entertainment partnered with Smile Gate to promote the game CrossFire with 2PM and Miss A.[59]

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.[60]

JYP CSR

JYP Entertainment + 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 hopes to help children realize their dreams + provide a miracle to overcome their illnesses[61].

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.[62]

NCC Entertainment (NCC Station)

NCC is a jointly produced management team by Tencent music corporation and JYPE Beijing cultural center located in Beijing, China.[40] It is also known as NCCE.[63][64] 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.[65]

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 on 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.

Divisions

  • JYP Beijing Cultural Exchange Ltd (JYPE China) is the Chinese division of JYP Entertainment, its 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
  • JYP Actors is the acting division that was founded in 2011. It is led by JYP Entertainment vice-president Pyo Jong-rok.
  • 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:
  • 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.[66]
  • JYP Entertainment Hong Kong Limited,[67], is the Hong Kong division of JYP Entertainment, it was established in 2017

Subsidiaries

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.[68]

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, on December 2013, during the almagation of JYP Entertainment, AQ Entertainment was dismantled and the artists under the label were moved to the main label.

JYP Foods Inc

JYP Foods Inc was founded in 2010.[69] On March 27, 2012, Park Jin-young opened his first restaurant, Kristalbelli, in New York City.[70] It is known for being one of the most expensive Korean BBQ restaurants in America, and for its use of crystal grills.[71][72]

Studio J bar was created on June 2, 2016, as a collaboration between JYP Entertainment and Y1975, a famous bar in the Chungdam District.[73]

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.[74]

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. On December 2013, both company officially merged.

Philanthropy

On March 18, 2011, JYP Entertainment donated US$300,000 for Japanese disaster relief.[75]

On October 24, 2011, JYP Entertainment and 2PM donated US$130,000 for flood victims in Thailand.[76]

Artists

JYPE

All of the artists under JYP Entertainment are collectively known as JYP Nation.[77]

Independent Artists

Producers

Actors

Former artists

Former musicians

Former actors and actresses

Discography

Main article: JYP Entertainment discography

JYPE Service

  • JYPNATION Superstar is a music streaming service app with a sharing feature of JYP 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. JYPE Fans.
  • JYPE Audition is an online website in which hopeful individuals apply through to become singers, actors, and models in JYP.

JYPE Audition

JYPE Audition China

JYPE Audition Thailand

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

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 : JYP Entertainment

(Jiuxianqiao Road, Chaoyang District, Beijing No. 4 751 D.PARK C11, room 106)

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

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External links

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