The Hardship Era When JYP Ent Almost Went Bankrupt
Original source: The Qoo
Kor-Eng: @Egle0702
Note: The post is written from the Korean perspective of a JYPN fan. The OP’s language is kept as authentic as possible.
------------------------------------
Back then, around 2010
Rain-JYP, Win the Appeal in the “World Tour” Lawsuit
2010-09-09
Singer Rain and Rain's former agency, JYP Entertainment, won a lawsuit claiming compensation for damages related to a performance in North America.
On the 9th, the Seoul High Court judged, "Wellmade StarM is the one responsible for the cancellation of the concert in North America," and "JYP Entertainment and Rain do not have to return the 10 billion won paid in advance."
Rain’s World Tour lawsuit (won after 4 years of trial)...
The American obsession…
And because of many other things JYP Ent had been having a rough time.
For reference, their sales (at the time were:
2009 sales KRW 10.1 billion (down 7% compared to the previous year) Net profit -4.6 billion
2010 sales 21.6 billion net profit 900 million
2011 sales 9.9 billion net profit -2.1 billion
2012 sales 15 billion net profit -9.8 billion
Fuck this shit lol
At that time, Loen invested in JYP, and got JYP’s shares in return.
With the 25.4% of the company’s stock, it immediately became the 2nd largest shareholder.
Back then (around 2013), Loen was owned by SK, but when the laws got revised, Loen was sold to a Hong Kong-based private equity fund.
(Loen was a music distribution company that monopolised the online music distribution market and paid very little to entertainment companies for it, so entertainment companies united and moved their online music rights distribution to KMP Holdings.
Although Loen was the 2nd biggest shareholder in JYP Ent, JYP Ent. also participated into the movement. It was okay when Loen was under SK, because Park Jinyoung is acquainted with the SK Group family, but when it was sold to the Hong Kong-based private equity fund, the confrontation intensified.)
→ Tbh, this is some complicated stuff, so if you’re having a hard time grasping it, might as well skip the part above.
Either way, at the time Loen, which wanted to grow as an entertainment company, opposed JYP Ent’s listing on the stock market and proposed a take over.
Loen: take over, let’s go
JYP Ent: don’t wanna
Loen: take over, let’s go
JYP Ent: don’t wanna
Loen: take over, let’s go
JYP Ent: don’t wanna
After going through it several times, JYP Ent finally succeeded in listing through backdoor listing.
While Loen, as an alternative, acquired Starship Ent (2013 November)
Oh yeah, you’re gonna croak tomorrow~
[Market Insight] Loen sells all JYP Entertainment shares
2014.01.16
They sold all the stocks in their possessions and made a run for it.
However, on the exact same day…
GOT7 debuted.
Just debuted, but the company is on the verge of bankruptcy and they were pretty much poised to end up sitting outside in a street (fuck this shit).
GOT7, to hold a showcase in Japan in collaboration with Sony Music
2014.03.10
At the time when GOT7 (as newcomers) were supposed to get as much push from the company as possible, the company was literally in ruins, and GOT7 got shipped off to Japan within 3 months after their debut. Their first concert was also held in Japan.
Suzy was shooting commercials like crazy. (The vid above is 6 min long, but it’s only the commercials from the first half of the year, you can pretty much tell she filmed every single CF suggestion they received.)
As for 2PM… they just didn’t come back from Japan at all. They were on tour in Japan for 2 years straight (no exaggeration here)
In 2014-2015, they released 2 albums in Korea, while in Japan they had 5 releases during the same period of time.
If it hadn’t been for 2PM, JYP Ent would’ve just evaporated back then. 2PM was the holding pillar that prevented JYP Ent from collapsing.
Park Jinyoung was also trying to do something, so he sold the JYP Ent building that belonged personally to him.
And with that he bought the JYP Ent stocks (currently, Park Jinyoung is the largest shareholder).
FNC Entertainment’s Han Sungho, comparing with the Big 3 entertainment companies… “We’re better off than JYP Ent.”
2015-02-05
That was exactly when FNC was indulging in all that media play going “JYP Ent, get out of my way, I’m in the big 3 now.”
JYP Ent official position: “YG takeover claims are false, looking into the potential to take legal action”
In the midst of all this, Yang Hyunsuk sprinkled this kind of crap trying to raise his stock prices. It’s like, the house was already on fire, and he just fried some popcorn next to it, absolutely infuriating.
Either way, spring comes to those who wait.
In 2015, GOT7 received a good response abroad with Just Right.
Originally, although JYP Ent is a big company, it wasn’t that big on the overseas market.
The company was mostly focused on popularity among the general public, but as they grew step by step with GOT7, Twice and Stray Kids, they reached overseas, too.
What’s more, they also began paying more attention to group fandoms starting with Twice.
These days, they’re quite decent with self-created content, and they squeeze out the fandom money through goods, too… They’ve become a fandom-oriented company.
When Twice hit the Korean jackpot with their legendary Ooh-Aah-Cheer-Up-TT line, and then did insanely well in Japan, the hardships era came to an end.
2015 JYP Ent stock price 3000 won
2023 JYP Ent stock price 73,000 won
Even the man himself must feel like it’s worth living these days. He’s dancing to Hype Boy.
+
Btw, one of 2PM’s comebacks in 2014-2015
Is My House: the legendary male-idol case of climbing back the charts.
Originally back then, they were supposed to have promos for a month. After a relatively long promo, they were planning to go back to Japan, but an MV director called Han Samin flaked on them with the intention to film a Big Bang MV.
Naive Production went “oh poor you” and shot the MV in a hurry.
Eventually, My House had just one week of promos, but it climbed back the charts way later, so there’s a happy ending in that.
That was when the JYP Ent ❤ Naive relationship started.
Right now the fandom attitude [to Naive] is not good, and they’ve also had quite a few mishaps over time, so they don’t have such an all encompassing reach as before but they’re still filming MVs on the Japanese side (mostly for NiziU).
Now I’m really done talking about the times when the world was chewing on JYP Ent.
You might say, isn’t this an omniscient JYP Ent stan perspective?
Well, I have nothing to say for myself because that’s true. At the end of the day, who else would remember all this if not a JYP Ent stan T.T
27 notes
·
View notes