J.Y. Park Unveils “JYP 2.0”, His Future Plans For JYP Entertainment
On June 21, J.Y. Park gave the world a look at JYP Entertainment‘s future during his talk at SparkLabs Demoday.
SparkLabs Demoday is a demoday event for game-changing startups and new innovations that features industry leaders of technology, media, and telecommunications. J.Y. Park attended the event as a speaker.
After playing a video montage of JYP Entertainment’s current accomplishments, stars, and services, J.Y. Park discussed the company’s upcoming changes. He calls this new version of JYP Entertainment “JYP 2.0”.
According to J.Y. Park, JYP Entertainment’s new building (set to open in two weeks) is just the beginning of changes to come.
Here’s A First Look At JYP Entertainment’s Nearly-Completed New Building
“We’re not trying to just make this a change of our venue. [It is a] great opportunity to take the next step that is necessary.” — J.Y. Park
J.Y. Park’s JYP 2.0 plans consist of four main “themes.” The first theme is “Company in Company”.
“We’re reforming our whole company. Until last year, our company was categorized by its functions. For instance, ‘marketing division’, ‘promoting division’…” — J.Y. Park
Up until last year, all JYP Entertainment divisions were categorized by the work they do.
In 2015/2016, J.Y. Park realized that this current structure and the “process of manufacturing content” was not moving fast enough to support the company’s influx of artists. Two years ago, he began what he calls an “experiment”. J.Y. Park assembled a “task force” of marketers, promoters, etc, to handle only one artist.
The company went from having a single marketing division for all artists, to having an individual marketing team that only handled one artist. That artist was TWICE.
“For the past two years, anything and everything that was related to TWICE was handled by that task force.” — J.Y. Park
The results of this experiment were overwhelmingly positive. Progress and communication both drastically improved.
After witnessing TWICE’s success under the experimental system, J.Y. Park decided to divide JYP Entertainment into four labels or “four little companies within this company”. He is taking all of his current artists and dividing them into these four divisions in order to speed up content production dramatically, thereby improving profits.
The second theme is “Globalization by Location”.
J.Y. Park has divided K-Pop’s progress into three stages. The first stage involved exporting Korean content overseas. The second involved blending in foreign talents within Korean acts. The third and current step is “developing and producing and releasing foreign talents”.
Boy Story is JYP Entertainment’s first globalization project group. The group is entirely made up of Chinese boys who were trained under the JYP Entertainment training program.
JYP Set To Officially Debut Their First Chinese Boy Group BOY STORY
The next project group JYP Entertainment is preparing is a Japanese girl group made up of Japanese girls to specifically target the Japanese market.
J.Y. Park calls his new girl group the Japanese version of TWICE but, unlike TWICE, the group will only feature Japanese members. TWICE has a mix of Korean, Japanese, and Chinese members.
“JYP Music Factory” is the third theme.
The main purpose of this theme is to counteract the negative side-effects of the first theme, “Company in Company”, that results in content being produced at an accelerated rate. When this happens, J.Y. Park says that the quality of that content can drop.
The new JYP Entertainment building will help to maintain quality, by providing 9 dance studios, 18 vocal rooms, 11 recording booths, 2 booths and 7 producing rooms.
According to J.Y. Park, no other company as this much music production space in their building. He believes that these facilities will help JYP Entertainment produce a large amount of high-quality music.
The final theme is “Creativity from Happiness”.
This theme has three core components that are beneficial to both artists and the company: work-life balance, healthy lifestyle, and mental care.
For work-life balance, J.Y. Park reasons that artists and employees who are tired and/or unhealthy cannot create great music.
“Especially in the creative business, I don’t believe working hours give you great results. It’s all about ideas, brilliant ideas.” — J.Y. Park
He also believes that feeding his artists the healthiest, organic food possible will keep them functioning at top-level.
Mental health is equally important to J.Y. Park as his artists’ physical health.
JYP Entertainment employs psychiatrists who are equipped to handle any problems the artists they may have, including personal issues they may have with their co-workers or seniors. These work-related problems are directly reported to JYP Entertainment’s CEO and are dealt with as soon as possible.
To hear more of J.Y. Park’s talk, check out the video here.
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