JYP Entertainment And China’s Tencent Music Entertainment Begin Strategic Partnership
JYP Entertainment has entered a strategic partnership with China’s Tencent Music Entertainment (TME)!
On March 24, JYP Entertainment released a statement saying, “We are joining a cooperative contract with TME, a leading online music platform company in China. We will secure a way to distribute all contents, including the music of our artists, and execute various business plans.”
In the partnership, JYP Entertainment will provide its music to TME’s music platforms QQ Music, KuGou Music, Kuwo Music, and WeSing on top of other social entertainment platforms and receive exposure across various video and live streaming channels. Both companies will work to maximize their synergy by launching various services through joint marketing, promotions, and live events.
TME currently operates an array of innovative platforms that deal with online music, online karaoke, and music-oriented live streaming. It aims to increase the role of music in the public’s everyday lives by allowing users to search, listen to, create, enjoy, and share music, ultimately cultivating a culture of interacting through music.
TME stated, “We are happy to work with JYP Entertainment to create more valuable content and share it with hundreds of millions of Chinese music fans. JYP Entertainment is a top Korean record label that houses excellent artists and draws positive reviews from the younger generation, including music fans on our platforms. On top of providing users with a unique experience of music entertainment based on TME’s outstanding music research, online music marketing, and recommendation functions, the strategic joint venture is expected to improve upon the existing field of cultural exchanges over K-pop by accentuating the widespread value of JYP Entertainment’s artists.”
JYP Entertainment also shared, “We aim to contribute to the development of K-pop by providing not only the music of our artists but also a series of quality content to music fans around the world in line with the trend of change and innovation.”
Through this collaboration, JYP Entertainment’s artists including Park Jin Young, 2PM, Bernard Park, DAY6, TWICE, Stray Kids, and ITZY are expected to expand their spheres of influence in China and attain more opportunities for global activities.