JYP Entertainment Corporation is one of the largest entertainment companies in South Korea. It was founded by Park Jin-young (aka 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. Currently it has notable artists like 2PM, JJ Project, 15&, Got7, Day6, Twice, Stray Kids, and Itzy under contract. In the past it managed Rain (founder of J. tune Entertainment), G.O.D, Wonder Girls, 2AM, and Miss A. The Revenue of JYP in 2017 was about 94 Mio. USD. The Founder J.Y. Park continues to be involved with the music production scene. Besides subsidiaries in the field of music and entertainment JYP also has a subsidiary in the food sector.
1997-2010JYP Entertainment was founded in 1997 by J. Y. Park as Tae-Hong Planning Corporation, which eventually was renamed to JYP Entertainment in 2001. In December 2000, JYP Entertainment signed Rain as a trainee who made his debut two years later. He became the first Korean Global solo artist when he expanded outside of South Korea. Rain later opened a subsidiary label named J. Tune Entertainment. In 2004 JYP contracted its first boy Band, G.O.D their contract with Sidus HQ ended. In May 2006 JYP first girl group Wonder Girls had their debut. They became a commercial success and the group was the first South Korean group which entered the Billboard Hot 100 in 2009 when their song "Nobody" charted at No. 76. Through their success Wonder Girls became the opener of the Jonas Brothers's world tour in select cities.
In 2008 the winner of the reality series Hot Blood Men One Day contracted with JYP and were split into the boy bands 2PM and 2AM and debuted in the same year. 2AM was jointly contracted with Big Hit Entertainment. In October JYP Entertainment opened the JYP Beijing Center as their China branch. Rains company J. Tune Entertainment was acquired by JYP in 2010. The joint venture KMP Holdings was also established this year. The subsidiary AQ Entertainment was formed later that year and introduced the Chinese-Korean girl group Miss A.
2011-2014In November 2011 Park invested 1.2 million $ to establish the subsidiary JYP Creative for operations in the US. After a net los of 1.5 mio $ it was closed in 2012. In the December 2012 the subsidiary AQ Entertainment became defunct and the girl group Miss A was moved to the main label JYP Entertainment.
In January 2014, the seven talent agencies behind KMP Holdings, formed a collective bond partnership and bought 13.48% of KT Music's stocks. This meant that KT lost its majority shareholding with only 49,9% left.
This year Got7, the labels' first boy group since the debut of 2PM and 2AM in 2008, made their debut. In April 2014 2AM's joint contract of Big Hit Entertainment with JYP Entertainment expired. Consequently three of the 2AM members returned to JYP, while member Lee Chang-min stayed with Big Hit. On October 6 Season three K-pop Star winner Bernard Park debuted with JYP to start his solo career. By end of the year J.Y. Park sold the JYP Entertainment's HQ building in Cheongdamdong, to Choi Ki Won for about $7 million with the agreement using the building for three years on rent.
In 2015, the subsidiary Studio J was formed, debuting its first artist G soul on January 9. The girl group Twice, whose members were chosen from the competitive reality show Sixteen, and the boy band Day6 were formed that year. The 2AM members Seulong and Jinwoon departed from JYP Entertainment in March as their contracts expired, while Jo Kwon renewed his contract.
In 2016 JYP advanced into the Chinese market by establishing a music distribution partnership with China Music Corporation and founding the joint venture Beijing Xin Sheng Entertainment Co. Ltd. with Tencent Music Entertainment. The same year the boy band Boy Story debuted with this joint venture.
On July 1, 2017, JYP Entertainment acquired a new office worth 20.2 billion won (US$18 million) in Seongnae-dong, Gangdong District. A partnership with DailyMotion, Europe's largest video platform, was also signed to establish an artist channel to gain global popularity. In 2018 JYP made an agreement with SM Entertainment, Big Hit Entertainment, and SK Telecom regarding content distribution.
In the first half of 2018, JYP Entertainment became the second largest entertainment company in South Korea by means of market capitalization and surpassed YG Entertainment, largely due to the success of Twice. Later that year, JYP surpassed SM to become the largest among the big 3 large companies.
In 2018, JYP debuted another boy group called Stray Kids after a survival show of the same name. Stray Kids is the first team to produce its own music since its very beginning. On January 24th JYP launched a new program with Mnet named "Super Intern" on MNet TV.
On January 29th 2019, JYP Entertainment started collaboration with Japanese Sony Music to create a local girl group. The Nizi project started in April 2019 by selecting Japanese-speaking 15-22-year-old girls in eight Japanese cities, Hawaii and Los Angeles. The 20 chosen girls will then be trained at JYP for six month and participate in a survival show with the nine winners debut 2020. On 11th March JYP signed partnership with Sony Music Entertainment’s The Orchard to distribute digital & physical releases to global key markets.
- Stray Kids
- JJ Project
- J. Y. Park
- Baek A-yeon
- Jang Wooyoung
- Jun. K
- Lee Junho
- Hwang Chansung
- Jackson Wang
Sources for this article was own research.