JYP Entertainment Expands Company-wide Strategic Collaboration with US Republic Records

JYP Entertainment expands strategic collaboration with Republic Records, the US' No. 1 label, and forms a company-wide global cooperation system.

Republic Records, the No. 1 label in the US selected by Billboard under Universal Music, announced to the local media on the morning of the 31st, New York time, "We are further expanding our strategic collaboration relationship with JYP Entertainment, including strengthening omnidirectional label partnerships." As a result, JYP Entertainment and Republic Records, which are further increasing their influence in the global music market, will not only distribute and market all artists belonging to JYP Entertainment, but also cooperate with A&R (Artist & Repertoire), PR, business development, etc. From the starting point, expand and develop worldwide. Through close cooperation with JYP Entertainment's North American subsidiary, JYP USA, it plans to maximize its penetration into the US market, and Universal Music's global infrastructure fully supports this worldwide expansion. News like this was delivered exclusively through Billboard prior to the official announcement of Republic Records, drawing global attention.

This expanded strategic collaboration aims to further enhance the pinnacle of K-pop in the global music market and open a new chapter in the global music market as well as the global success of JYP Entertainment's artists by jointly utilizing the expertise and resources possessed by both companies. The collaboration between the two giant labels, which started with Twice in February 2020, led to Stray Kids and ITZY in February 2022, and proved their power through their outstanding performance in the US market. JYP Entertainment and Republic Records go further than Twice, Stray Kids, and ITZY, which are very active on the global stage, and JYP Entertainment recently introduced boy band Xdinary Heroes, girl group NMIXX, and A2K. , Continues success and growth through a wide range of partnerships, from the first global girl group based on the K-pop system to be created through collaboration between the two companies to newcomers to be launched in the future.

The collaboration between JYP Entertainment and Republic Records set a milestone that will remain in K-pop history for a long time. In February 2020, Twice, who first joined hands with Republic Records to target the global market, first entered the 200th place on the 'Billboard 200' chart with the 9th mini album 'MORE & MORE' in June of that year. Since then, the 2nd regular album 'Eyes wide open' in December 2020 ranked 72nd, the 10th mini album 'Taste of Love' ranked 6th in June 2021, and the 3rd regular album 'Formula' in November 2021 of Love: O+T=<3' (Formula of Love: O+T=<3) 3rd place, August 2022 11th mini album 'BETWEEN 1&2' (Between 1&2) 3rd place, March 2023 mini 12 The album 'READY TO BE' (Ready to Be) grew stepwise up to 2nd place and posted a total of 4 albums, the most among K-pop girl groups, in the top 10 of the 'Billboard 200'. In addition, after first entering the Billboard'Hot 100' through the first original English single'The Feels' in October 2021, it was released in January 2023, followed by the English single'MOONLIGHT SUNRISE'. showed off his potential to be named second in his career. In addition, as part of their fifth world tour, they became the first K-pop girl group to enter and sell out local stadiums in the US, such as Sophie in Los Angeles in June and Metlife in New York in July.

Stray Kids is also creating great synergy by signing a global partnership with Republic Records. The mini-album 'ODDINARY', released in March 2022, reached the top at the same time as the first entry on the 'Billboard 200' chart, and the mini-album 'MAXIDENT', released in October, took first place for the second consecutive year, and many in 2022 He became the only K-pop artist to have his work enter the Billboard 200 at number one. On March 31st and April 2nd (local time), an encore concert covering the second world tour 'MANIAC' with 42 concerts in 18 cities around the world was held at the Bank of California Stadium (BMO Stadium) in Los Angeles. It opened and became the second K-pop boy group to enter and sell out at a local stadium. On Spotify, the world's largest music streaming platform, the number of streams of all songs released so far has exceeded 4 billion.

ITZY is also shining a global presence. The 4th mini album 'GUESS WHO' released in April 2021 entered the 'Billboard 200' for the first time, and the 1st regular album 'CRAZY IN LOVE' in September raised the previous record by a whopping 137 steps. 11th, and the 5th mini album 'CHECKMATE' in July 2022 ranked 8th, its highest score. In addition, in October and November of last year, the first world tour 'CHECKMATE', which debuted in 8 cities in the United States, sold out all seats in all rounds, proving the rise in popularity.

Regarding the expansion of collaboration between the two companies, JYP Entertainment CEO Jung Wook said, "The past three years have been a series of phenomenal achievements based on strengthening mutual trust as true partners. The expansion of partnership between the two companies leading the music industry means opening a new chapter together. Write, you will sculpt K-pop's next vision." President and CEO of Republic Records, Monte Lipman, said, "The partnership between JYP Entertainment and Republic Records stems from mutual respect and admiration. Both companies recognize that there is an amazing opportunity to stand at the forefront of K-pop's explosive popularity in the future. There is. This potential is limitless,” raising expectations.

Founded by brothers Manty Lipman and Avery Lipman, Republic Records has held an unrivaled position on Billboard's label charts for years, not missing the #1 spot. Superstars such as Taylor Swift, Ariana Grande, The Weeknd, Drake, Post Malone, John Legend, Lil Wayne, etc. It has numerous platinum, awards, and achievements.

Since the announcement of the strategic collaboration between JYP Entertainment and Republic Records, Twice, Stray Kids, and ITZY have settled down in the global music market. The two companies showed their growth potential by reaching No. 12 on the Billboard 'World Digital Song Sales' chart in 8 days of their debut with their debut song 'Happy Death Day', and Mini 1 released in March 2023. It is expected that they will exert a strong force in expanding their global influence by demonstrating the experience and know-how accumulated over the years towards K-pop newcomers such as NMIXX, who entered the Billboard 200 at No.

In addition, the two companies announced the launch of a global girl group based on the K-pop system and announced the departure of the 'A2K' project. Last year, five major cities in the US held auditions to find candidates for the debut of a global girl group, and the selected candidates are undergoing systematic training at JYP Entertainment's headquarters by K-pop planners, choreographers, and producers, including Park Jin-young.

Reporter Yoon Jun-ho, Ten Asia delo410@tenasia.co.kr