JYP To Sign Partnership With China’s Tencent
JYP Entertainment, a K-pop agency that is home to various well-known groups such as TWICE, ITZY, 2PM, and many others, announced that the company would be signing a strategic partnership with the Chinese company Tencent, China's technology giant, in a statement released on Wednesday.
According to the company, under the deal between the two giant companies, JYP will be providing music for the Tencent Music Entertainment Group's (TME) different platforms such as WeSing, QQ Music, Kuwo Music, and Kugou Music. Both companies will also cooperate and will make joint promotional and marketing events for their respective platforms.
TME said in a statement in Korean-language provided by JYP that they are glad to be joining hands with the K-pop agency in creating more content value and provide more content to millions of Chinese music fans. The company added that they expect this to be a great opportunity to promote the K-pop culture exchange and by emphasizing the diverse values of the artists from JYP.
JYP Entertainment said that they are hoping that they will be able to contribute to the developments of the K-pop industry not only through the music of JYP artists but also through the high-quality content they can offer.
JYP Entertainment was founded by the K-pop producer and singer Park Jin-young in 1997 with its goal of producing high-quality music not just for South Korea but also around the world. The company is a home for many famed K- pop idols such as the girl groups ITZY and TWICE, as well as world-famous boy bands like 2PM and Stray Kids.
The K-pop agency had also partnered with international companies to launch various K-pop acts like the Chinese boy band called Boy Story with Tencent Music Entertainment and the Japanese girl group called NiziU with the Sony Music Entertainment Japan.
