JYP Entertainment

JYP Entertainment Corporation
Public
Traded as KRX: 035900
Industry
Genre K-pop
Founded May 1997 (1997-05)
Founder J.Y. Park
Headquarters Seoul, South Korea
Area served
Worldwide
Key people
Wook Jung CEO
Services
  • Music production
  • Licensing
  • Record distribution
  • Film production
Revenue
  • IncreaseUS$ 69.51 million (2016)
  • US$ 50.56 million (2015)
  • US$ 48.48 million (2014)
  • IncreaseUS$ 7.533 million (2016)
  • US$ 3.1 million (2015))
  • US$ 7.7 million (2014)
Owner
  • J.Y. Park
    (19.0%)[1]
  • Media corp.
    (5.12%)
  • Dimensional Fund Advisors LP
    (0.65%)
  • Wook Jung
    (0.34%)
  • Mirae Asset Global Investments Co., Ltd.
    (0.15%)
  • Hae-Sung Jo
    (0.13%)

[2]

Number of employees
163 [3]
Divisions
Subsidiaries
Website www.jype.com
JYP Entertainment Co., Ltd
Native name
JYP 엔터테인먼트 or 제이와이피엔터테인먼트
Private
Industry Entertainment
Fate Merged with JYP Entertainment corporation
Founded May 1997 (1997-05)
Founder J.Y. Park
Headquarters Gangnam District, Seoul, South Korea
Area served
South Korea
Key people
Wook Jung (CEO)
Services Distribution, Entertainment
Number of employees
59
Subsidiaries
  • AQ Entertainment
Website www.jype.com

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]

JYP Entertainment is currently the home of artists including 2AM, 2PM, Miss A, Baek A-yeon, 15&, JJ Project, Got7, Nakjoon, Day6, Twice, and Jeon So-mi, and formerly to artists like Park Ji-yoon, g.o.d, Rain, Jay Park, San E, Meng Jia, Wonder Girls, Sunmi and Ha:tfelt.

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]

On December 2000, JYP Entertainment signed Rain as a trainee and he debuted on April 2002 as a solo singer[7]

On 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, wonder girls member hyuna was withdrawn from the group by her parents and was replaced by Yubin a trainee from the talent agency Good Entertainment.[8]

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 life's of 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.[9] 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.[10][11]

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.[12]

Wonder Girls in 2008

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%.[13]

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.[14]

On January 1, 2014. JYP Entertainment announced Got7, as the labels 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.[15] 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.[16] On October 13, 2014, kpopstar S3 winner Bernard Park debuted as a solo artist[17] 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.,[18][19]

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 7, 2015 as members of Twice[20] On March 2015 Seulong and Jinwoon departed from JYP Entertainment upon their contract expiration,[21] while Changmin ended his contract in August 2015 and Jo Kwon renewed his contract.[22] On September 7, 2015, JYP Entertainment debuted their first boy band, DAY6[23] [24] On October 5, 2015.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").[25][26]

On February 19, 2016, JYP Entertainment establish music distribution partnership with China music cooperation.[27]

In April 2017, Tencent music Entertainment and JYPE China(NCC Station) jointly established the Beijing Xin Sheng Entertainment Co., Ltd in order to learn from its artists to develop model, and its offline art school and brokerage firm Transport the trainees [28]

On July 1, 2017, JYP Entertainment acquired a property worth 20.2 billion won (US$18 million) in Seongnae-dong, Gangdong-gu, Seoul, Korea to be used as it's new company office.[29]

On July 27, 2017, JYP Entertainment has signed a partnership with Daily Motion, Europe's largest video platform, to open its own artist channel on its platform in order secure a more global fan base.[30]

On August 4 2017, JYPE China subsidiary NCC Station Entertainment announced through their weibo page that they will be creating a new Chinese boygroup "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![31]

Partnerships

Music distribution

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

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.[32][33]

KMP Holdings and KT Music

In March 2010, KMP Holdings was established via a joint venture between JYP, S.M. Entertainment, YG Entertainment, Star Empire, Media Line, CAN Entertainment, and Music Factory Entertainment. KMP Holdings was acquired by KT Music in November 2012, and in June 2013, KT Music absorbed KMP's distribution network. In January 2014, the seven talent agencies behind KMP Holdings formed a collective bond partnership and bought 13.48% of KT Music's stocks, leaving KT Corporation with 49.99%.[13]

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.[34]

Smile Gate

On November 17, 2013, JYP Entertainment partnered with Smile Gate to promote the game CrossFire with 2PM and Miss A.[35]

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[36].

JYP Foods Inc

JYP Foods Inc was founded in 2010.[37] On March 27, 2012, Park Jin-young opened his first restaurant Kristalbelli in New York City.[38] It is known as the most expensive Korean BBQ restaurant in America, and for its use of crystal grills.[39][40]

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.[41]

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.[42]

Beijing Xin Sheng Entertainment Co., Ltd

This is a jointly produced entertainment company by Tencent music coperation and JYPE China(NCCSE) lcoated in Beijing, China. It was created on April 5 2017, in order to learn from its artists to develop model, and its offline art school and brokerage firm training of trainees and also to create an indoor recreational facilities operation, organization of cultural and artistic exchanges and film and television planning. [43]

New Creative Content Entertainment inc(NCCE)

This is a dependent chinese subsidiary under JYPE China created on January 7 2017. It's was announced through their weibo page on August 4 2017. NCC 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 korea Entertainment and to effectively promote New chinese boygroup( BOYSTORY) more in China.[44]

Philanthropy

On March 18, 2011, JYP Entertainment donated US$300,000 towards Japanese disaster relief.[45]

On October 24, 2011, JYP Entertainment and 2PM donated US$130,000 for flood victims in Thailand.[46]

Artists

All of the artists under JYP Entertainment are collectively known as JYP Nation, similarly to SM Town and YG Family.

Musicians

Groups

Duos

Soloists

Studio J

A subsidiary label attributed with the following artists:

  • Day6
  • Park Ji-min (15&)
  • Baek Ye-rin (15&)
  • Jo Kwon (2AM)
  • Bernard Park
  • Baek A-yeon

New Creative Content Entertainment inc(NCCE)

Producers

  • J.Y. Park (The Asiansoul)[48]
  • Armadillo
  • Frants
  • Hong Ji-sang
  • Honey Pot (Cho Hyun-kyung and Park Yong-woon)
  • Joohyo
  • Jowul of Princess Disease
  • Kim Seung-soo
  • Min Lee (collapsedone)
  • Noday
  • Paul Thompson (Marz)
  • Ragoon IM
  • Sim Eun-jee
  • Song Ji-wook
  • Raphael
  • Tommy Park
  • Toyo
  • Woo Rhee (Rainstone)

Actors and actresses

Choreographers

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

Former artists

Former musicians

Former actors

Former trainees

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