“Full-scale 360° business development based on core business competency”
JYP continues to expand its business scope recently
Photo = JYP Entertainment CI
JYP Entertainment established a subsidiary for IP/platform business.
On the 3rd, JYP Entertainment (hereafter JYP) established “JYP Three Sixty (JYP 360°), develop,” he said.
JYP 3Sixty, which will be launched in the form of a new corporation, will advance the global distribution of its contents and continuously discover and develop new businesses, centering on the platform business that will enable the connection and bond between MD and other IP businesses and global fandoms. In addition, it plays a role as a strategic base for maximizing existing IP values and concentrating company-wide capabilities to discover new values, and furthermore, to create new IPs.
Through this, the company plans to expand its volume and improve profitability by diversifying its business portfolio.
In addition, such as the company’s vision and slogan, ‘BEYOND and NEXT’, we are rapidly discovering and globalizing various innovations for a new fan experience that encompasses content and platforms, leading to upheaval in the K-pop market. We plan to continuously enhance our corporate value by responding to this and creating growth synergies in earnest. JYP explained that it plans to enhance K-pop’s global competitiveness and expand the market through cooperation with world-renowned companies as well as upgrading its own capabilities.
JYP said, “In line with the mission and vision of JYP 3Sixty, we will provide the global market with a more enjoyable, convenient and innovative next-generation fan experience that spans 360 degrees.” It is expected to attract more attention as a result of long deliberation to develop the business more strategically and integratedly in the global market.”
Meanwhile, JYP co-founded Beyond Live Corporation, the world’s first online-only concert company, with SM Entertainment in August of last year. In addition, following investment in Zepeto, a metaverse platform, in June, it acquired a 23.3% stake in the fan communication platform Dear You Bubble with an investment of about 21.4 billion won, becoming the second largest shareholder. Recently, we signed a strategic business partnership with Dunamu based on NFT (Non-Fungible Token) centered on K-Pop.
Kim Soo-young, reporter at Hankyung.com swimming@hankyung.com
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