JYP, strategic alliance with Tencent in China… Expanding global influence

Provided|JYP Entertainment, Tencent Music Group

[Reporter Se-yeon Park, Daily Economy Star Today]

JYP Entertainment (hereinafter referred to as JYP) will sign a strategic collaboration with China’s Tencent Music Entertainment Group (TME).

JYP will sign a cooperative contract with TME, a leading Chinese online music platform company. We will secure a way to distribute all-round contents, including the music of our artists, and develop various business models.”

According to this collaboration, JYP will supply music to TME’s music platform QQ Music, Kugou Music, Kuwo Music, and WeSing, and introduce various videos and live channels.

Furthermore, the two companies are expected to maximize synergy by creating various music entertainment services such as joint marketing, promotions, and live events.

TME is China’s leading online music entertainment company and is operating innovative platforms such as online music, online karaoke, and music-oriented live streaming. Through this, it seeks to increase the role of music in life by allowing users to search, listen, create, enjoy, share, and interact with music.

TME said, “We are happy to work with JYP to create more content value and provide it to hundreds of millions of Chinese music fans. JYP is Korea’s top record label with excellent artists, drawing positive reviews from the younger generation, including music fans on our platform. The strategic joint venture is expected to provide users with a differentiated music entertainment experience based on TME’s outstanding music research, online music marketing and recommendation functions, as well as upgrade K-pop cultural exchanges by taking advantage of the broad value of JYP artists.”

JYP said, “We aim to contribute to the development of K-pop by providing not only the music of our artists but also quality content to music fans around the world in line with the trend of change and innovation.”

Through this collaboration, JYP’s leading artists such as Park Jin-young, 2PM, Bernard Park, DAY6, TWICE, Stray Kids, and ITZY are expected to expand their influence in China and perform global activities.

psyon@mk.co.kr

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