JYP Entertainment representative producer and major stockholder, Park Jinyoung shared “We have to listen to Suzy well. Not sure if we should change the company name from JYP to SJ” during his appearance on KBS2 ‘Yoo Heeyeol’s Sketchbook’ on the 17th. It was a ‘self-torturing gag’ regarding the public call for miss A’s Suzy as JYP’s ‘breadwinner.’
But, how much truth is there in the joke of changing the name of the company from JYP to SJ Entertainment? Is Suzy’s account in JYP’s sales that big, fitting her nickname? Straight to the conclusion, Suzy is not JYP’s ‘breadwinner.’ There is a different ‘breadwinner.’ They are male idol group 2PM. Although it seems that Suzy has overlapped 2PM for a few years through various of her activities in Korea, 2PM and Suzy are not comparable with their sales concerned.
2PM, Earning 3~4 times more than Suzy – miss A, the secret is ‘overseas activities’
JYP’s official explained, “2PM earns 3~4 times more than Suzy and miss A’s combined income.” The best ‘Cash Cow’ in JYP is not Suzy but 2PM.
Suzy has been dominating as the country’s top star through various CF, broadcast programs, movies and miss A’s activities but to 2PM, a field called ‘overseas activities’ exists. It is true that 2PM, who have become a top-notch idol after their debut in 2008, didn’t hit success in Korea compared to the early expectation through their third album ‘Grown’, released in May 2013 and their forth ‘Go Crazy’, released in last September. But it’s a different story for them overseas. 2PM is a team who can embrace the superior continent, Asia in Japan, China, Southeast Asia, etc. A music field officials stated, “There are only a few groups who can go around Asia and be able to gather at least 10000 audiences for each of their concert/event in China, Japan, and Southeast Asian countries. Super Junior, DBSK, Exo, Shinee, JYJ, Big Bang, 2PM, etc, those are the groups who have been able to reap great success.”
If we are to analyze the sales of our entertainment industry, it is absolute that more than 30% of the income comes from Japan. Because of this, frequency of Japan concert and overseas income become the most-observed by analysts from a security firm in analyzing the entertainment industry. An officials explained, “Oricon Chart is the most thrustworthy parameter in Japan and the only Korean groups to place first on Oricon Weekly Chart were DBSK and 2PM. 2PM is clearly one of the few countable Hallyu groups in Japan now.”
With their 4th Japanese album ‘2PM OF 2PM’ which was released on the 15th, 2PM topped Oricon daily chart straight on their album release day after selling 25,397 copies. Besides, they’re also in the middle of their Arena Tour, mobilizing 150,000 audiences in 6 cities through 14 concerts. 2PM stays a reliable success guarantee in Asia.
According to the clarified data announced last month, JYP’s sales was ₩ 48,482,470,000. If we are to look into the sources, ₩ 3,206,040,000 came from albums (domestic ₩ 3,158,790,000/exported ₩ 47,250,000), ₩ 6,797,760,000 came from contents (domestic ₩ 3,333,610,000/exported ₩ 3,464,140,000), ₩ 1,899,500,000 from record production (domestic ₩ 1,440,000/exported ₩ 1,898,060,000), ₩ 33,105,110,000 from management—events, concerts, advertisements, etc—(domestic ₩ 15,346,210,000/exported ₩ 17,758,900,000), and ₩ 3,474,060,000 from other sales. Management sales made accounted for 68% of the entire sales and 2PM covers a lot of the exported part of the management sales with ₩ 17,758,900,000.
‘Finding post 2PM-Suzy’ This year’s short period task is ‘GOT7 to leap as a global group and landing new girl group safely’
At recent press conference, JYP’s representative, producer Park Jinyoung revealed his ambitious plans, “I want to make JYP to be a global company, to be a competitive company. I will make a company that can make much more than a trillion won of market price.” Though a trillion won still seems so far for JYP, the company atmosphere isn’t bad these days.
JYP has actually been caught in a ‘slump’ for these past 2~3 years. In order to get away from Park Jinyoung’s ‘One Man Show’ and to prepare for a systematic ‘system’, JYPE has gone through various trials and errors. Aside from the actual ‘breadwinner’ 2PM who struggles in overseas market and Suzy who keeps the good image of JYP and is called as the ‘breadwinner’, JYPE don’t really have a team with success recognition in the market. Eventhough they’re labeled as the ‘Big 3’ with SM Entertainment and YG Entertainment, there has been a stong opinion of JYP being in the ‘Big 5’ together with FNC Entertainment and Cube Entertainment lately.
But, JYP’s record is surprisingly good based on the 2014 financial statements. JYP’s sales went up 127.4% from last year’s, their business profit came in the contrast of last year’s from ₩ 2,553,310,000 to ₩ 8,256,630,000, and their net profit also went from ₩ 3,944,880,000 of last year to ₩ 7,850,140,000. Due to the merge with JYP Ent, their sales increased and their profit and loss improved. Starting from 2014, the company’s self-produced concerts, MD business unit (except Japan), subsidiary company JYP Pictures which manages drama and movie production business, and JYP actor management—Yoon Park, Choi Woosik, etc under the company—with their rookie actors progressing have shown their rapid progress, as a result of JYP’s public promotion.
JYP side currently has an optimistic prospect for a solid growth in 2015. miss A and Park Jinyoung have first gained their success of occupying the 1~2 position on music charts with their recent released song, it is encouraging to see their success in revearsal of the company’s previously slumped condition.
JYP’s strategy in increasing their sales is to expand their line-up. It is now their major task to make GOT7 to become a group active in Asia and to launch the new girl group successfully.
It’s one of JYP’s short period task to add one more group to embrace Asia after 2PM and GOT7 have received their lesson to be the successor. 3 out of 7 GOT7 members are foreigners (Chinese born in Hongkong, Jackson, Taiwanese American, Mark, and Thailander Bambam). The members and the group was formed with the intention of overseas market right from the launching. The 2 years idol group GOT7 has succeeded in planting their foundation by gathering 25,000 audiences through their 9 concerts in 5 cities of Japan last year. With their upcoming fanmeetings in Osaka and Tokyo this June, they will begin to target the Japan market. GOT7 has also been receiving spotlight as new generation group with in Greater China with their triple crowns in ‘Fashion Power ‘, ‘YinYue V-Chart’, and ‘Top Chinese Music Awards.’
Another task it to debut the new girl group. A music field officials said, “Traditionally, JYP has shown their strength in forming girl groups like Wonder Girls and miss A. That is the reason for the anticipation toward the new girl group.” JYP, hand-in-hand with Mnet, have recently established a reality program called ‘Sixteen’, the members of the new girl group are to be decided through the competition between 9 trainees to win 7 spots inthe group. JYP plans to create a new girl group after 5 years, following Wonder Girls and miss A.
Trans KOR-ENG by: nuneo2daKAY