JYP Entertainment partners with Tencent to expand global business

JYP Entertainment's corporate logo / Courtesy of JYP Entertaintment

JYP Entertainment invests in local cosmetic brand SIORIS

By Kim Jae-heun

JYP Entertainment said this month it has signed a strategic partnership with Tencent Music Entertainment to distribute its K-pop groups' music in the global market and diversify its business.

“In line with the trend of change and innovation in the global music market, we aim to contribute to the development of K-pop by not only offering our musicians' music but also quality content to fans around the world,” JYP Entertainment said in a press release.

Tencent Music Entertainment (TME) also said it is happy to offer more quality content to its legions of Chinese fans in cooperation with JYP Entertainment.

“JYP Entertainment is, without a doubt, the best music label with many popular K-pop groups and it is praised by young music fans including those on our streaming platform. We expect this partnership to give listeners a distinguished music entertainment experience based on TME's outstanding music research, online music marketing and recommendation system while pursuing additional K-pop cultural exchanges with the broad value of JYP artists,” TME said in the press release through JYP Entertainment.

Tencent Music Entertainment's corporate logo / Courtesy of JYP Entertaintment

JYP Entertainment has already begun distributing its K-pop bands' music on TME's affiliated music platforms such as QQ Music, Kugou Music, Kuwo Music as well as WeSing.

The entertainment companies agreed to offer various entertainment events and promotions to maximize the synergy created between the two.

TME is China's leading music entertainment group that operates online karaoke, live music streaming service and other more. Users can also search, listen and create music on TME's platform as well as allow people to interact online.

JYP Entertainment is home to big K-pop musicians like Park Jin-young, 2PM, Bernard Park, DAY6, TWICE, Stray Kids and ITZY.

They are also expected to expand their presence in the Chinese market and take a further leap onto the global scene.

Meanwhile, JYP Entertainment has decided to invest in the local cosmetics brand SIORIS and promote the brand together with the music label's founder Park Jin-young.

Park has long had atopic dermatitis and other allergies that keep him under a strict diet of organic food and an intermittent fasting regime to maintain his health.

At the same time, Park became interested in beauty products that are made using pure ingredients. He believes the brand can create synergy with the rapidly growing K-pop industry.