More about JYP Entertainment
“After the M&A [with unlisted JYP], we’re expecting four billion Korean Won [approximately 37.7 million US Dollars] of sales this year, going to reach 5.57 billion Won [approx 52.49 Dollars] of sales and operating profit of 1.1 billion Won [approx 10.36 Dollars] next year. We’re going to introduce three to four new idol groups in 2014,” said Jung Wook, C.E.O of JYP Entertainment. This June, JYP Entertainment merged and acquired its unlisted company JYP, which runs its subsidiary firms in the US, Japan, China and AQ Entertainment. Especially AQ Entertainment, established in 2008 with JYP Entertainment’s 100% share investment, had taken charge of management of miss A and other artists. Park Jin-young rose to the largest shareholder through the M&A, which is the sore reason of expecting JYP’s one another leap-up.
The answer is Park Jin-young, eventually. He introduced Sunmi in a totally different image and so did for miss A. He is still a real trait. Everytime JYP is in danger, Park Jin-young’s strategy and producing ability worked it out. Individual activities of miss A Suzy, 2PM Taecyeon and Junho also fared well. Their clever steps to slowly widen their boundaries based on their current ability is the good examples for numerous idol groups.
JYP Pictures, a movie department of JYP, also signed a contract of joint film producing with China’s stage producing company Dong Bang Entertainment Group and expanded boundaries to character licensing business and travel business with ‘OKCAT,’ Taecyeon’s self-invetned green cat character.
Despite of strengthened actors line-up, there is still needs for fans to watch more refreshing idols. Moreover, Suzy’s power overwhelmed other artists’ activities somehow. The nickname for Suzy, ‘a girl breadwinner’ is not welcoming for JYP. It is time to find a reasonable balance, and it could be the upcoming newbie idols.
Overseas activities of JYP artists are very stable. As one of the ‘big 3’ K-pop agencies, their know-how has been well-built. 2PM frequently flies from Korea to Japan and it looks like it is their one another chance to shot to the bigger market. After PSY, the US market became more realistic. But Wonder Girls had been far earlier struggled in the US. Some calls it a ‘failure,’ but the attempt itself was a big challenge and success. There are bigger number of people out there who want to observe the JYP-styled challenge.
Reporter. Hwang Seong-woon firstname.lastname@example.org
Editor. Choi Jin-sil email@example.com
Translator. Cory Lee
Editor. Cory Lee
Courtesy of JYP Entertainment