Mnet Media, JYP joins forces to take on Asian music market

Published on 2010/08/13 | Source

Popular Korean boy band 2PM [JYP Entertainment]

Major talenthouse JYP Entertainment (JYPE) and music cable unit Mnet Media have come together to expand Korea's music business and talent into the Asian music market.

On Thursday, JYPE and Mnet Media announced that they have formed a partnership through which they will jointly work toward expanding the influence of Korean music content in Asia.

The two companies are expecting to create a synergy effect by combining Mnet's network in China, Thailand, Singapore and Malaysia, their understanding in the music industry as well as their technology, with JYPE's popular artists including J.Y. Park, the Wonder Girls, 2PM, 2AM and miss A.

They will collaborate in various ways including holding concerts starring JYPE's artists.

"Through this partnership with JYPE, we hope to become a role model in producing distinguished contents in the entertainment business. This is an opportunity for the Hallyu wave to expand into China, Thailand and other Asian countries", Antonio Park, CEO of Mnet Media Corp. was quoted as saying.

"The new business model will allow our artists to lead the Hallyu craze through their activities overseas", explained president of JYPE Jung Wook.

Mnet Media is a subsidiary of CJ Media and dedicated to broadcasting and producing music-related entertainment programs.

JYPE focuses its business on music production, new artist recruitment, training and management. They have discovered and trained popular K-pop artists including the Wonder Girls, 2PM, 2AM and miss A.