On February 19th(GMT+8), JYP, one of the top three Korea Entertainment companies, announced signing exclusive music copyright agreement with Ocean Music Group. They planned to establish a joint venture and expand business development.
After signing up the agreement, Ocean Music Group planned to have all video contents of JYP artists and have exclusive internet distribution. Both sides agree to fight against piracy and improve music cooperation in the Chinese market.
In addition, JYP and Ocean Music Group will set up a joint venture company, using JYP resources
and advantages. Also, based on Ocean Music’s understanding of the domestic market, it aims to discover excellent Chinese local artists, as well as new music contents.
It is said that JYP has many artists such as J.Y. Park, Wonder Girls, 2PM, Zhao Quan, miss A, Twice, GOT7, DAY6. Wang Jiaer, member of GOT7 from Hong Kong, also hosted Come on, Refrigerator of Chinese version with He Jong.
However, one month ago, JYP stirred a storm on the Internet. On January 8th, Zhou Ziyu, member of TWICE under JYP, was discovered pro-independence trend and triggered anti-JYP campaign on the Internet. At the same time, companies like Huawei and LG also cancelled agreements with JYP Entertainment, which lead to the plunging of its stock prices. Later, it was ended after Zhou Ziyu released an apology video.
JYP’s closing price on February 16thwas 4600 won (about 24 RMB), increasing by 3.72%. Its highest 52-week share prices was 6310 won, and its lowest was 3790 won. Now, its market value was 157bn won (about 830m RMB). According to JYP’s earning’s on September 30th2015, the total revenue dropped from 19.937bn won to 13.27bn won by last September. Also, gross margin decreased from 9bn won to 4.23bn won.
Besides, CMBN found that JYP earned 48.4bn won in 2014, increasing by 127.2%. Its operating
profit was 8.23m won, successfully reserving the loss.
Now, exchanges between Chinese and Korea Culture are more frequent. During the spring festival, Ali acquired 4% of SM Entertainment share with 195m yuan, opening the 2016 music entertainment
We have reported Ali Music buying SM Entertainment’s share. According to the statistics, by February 9th, the share price of SM was 43,700 won (about 241.45 yuan). The 52-week share price was between 30,000 won and 49,700 won. Its market value was 914.1bn won (about 5.0276bn RMB).
In December 2014, QQ Music announced the starting of Sino-Korea Entertainment aircraft carrier
plan with YG Entertainment in Hong Kong. Both sides signed exclusive strategic partnership.
What’s the next step of QQ Music?
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