QUESTIONS ARISE REGARDING WONDER GIRLS’ CONTRACT WITH JYP Some of you may not know that JYP and JYP Entertainment were actually two different companies that have recently merged and became ‘ONE JYP’. There are few differences between JYP and JYP Entertainment. While the first one is a home for artists such as 2PM, Wonder Girls, and 2AM, the second has contracts with singer/producer Park Jin Young and miss A. The decision to merge the two companies into a giant one will allow ONE JYP to be even more effective in a competition with SM Entertainment and YG Entertainment. In order to expand it impact, ONE JYP is planning to produce dramas, movies, and musicals. However, there is one problem that have arised after the merge – a contract with Wonder Girls. Due to the fact, that the group is still under the old contract, at least 60% of ther incomes go to the company. Additionally, to prolong their contract, ONE JYP would need to readjust the dividends and this is definitely not something that the agency is looking forward to. What adds to the already dificult situation is that four of the five members have different expiration dates for their contracts. Members Sohee and Sun‘s contracts will expire on December 21st, Yenny will officially finish her work for JYP in January next year, Yubin‘s contract expires in September of 2014, followed by Hyelim, who was the last to join Wonder Girls and whose contract expires somewhen in 2015. However, the new agency cannot ignore Wonder Girls’ popularity and the revenue they brought to the company. It is safe to say, that it was thanks to Wonder Girls that JYP raised from a mid-sized company to a big corporation that made its place in the top 3 of Korean entertainment agencies. To prove it, here are presented some statistics: in 2010, Wonder Girls generated $5 million dollars for JYP, which was a quarter of the company yearly revenue. One year later they generated $1.58 million, which accounted for 9.55% of JYP’s yearly revenue, and in 2012 they generated twice as much, $3.9 million, which accounted for 16.54% of the yearly revenue. Unfortunately, there is another side to that. Wonder Girls lost millions of dollars for JYP when their US debut in 2011 happened to be a total failure. JYP Entertainment Corporation, a U.S.-based entertainment firm solely established for the sake of promoting JYP artists, took a severe hit due to Wonder Girls’ US flop. They have not posted a profit since. JYP Entertainment ensured that there are still no talks regarding Wonder Girls’ future contract, but it did not stop the rumors to arise as many are wondering if the girls will disband and will try to puruse solo careers instead. QUESTIONS ARISE REGARDING WONDER GIRLS’ CONTRACT WITH JYP Thursday September 26, 2013 at 18:38pm Some of you may not know that JYP and JYP Entertainment were actually two different companies that have recently merged and became ‘ONE JYP’. There are few differences between JYP and JYP Entertainment. While the first one is a home for artists such as 2PM, Wonder Girls, and 2AM, the second has contracts with singer/producer Park Jin Young and miss A. The decision to merge the two companies into a giant one will allow ONE JYP to be even more effective in a competition with SM Entertainment and YG Entertainment. In order to expand it impact, ONE JYP is planning to produce dramas, movies, and musicals. However, there is one problem that have arised after the merge – a contract with Wonder Girls. Due to the fact, that the group is still under the old contract, at least 60% of ther incomes go to the company. Additionally, to prolong their contract, ONE JYP would need to readjust the dividends and this is definitely not something that the agency is looking forward to. What adds to the already dificult situation is that four of the five members have different expiration dates for their contracts. Members Sohee and Sun‘s contracts will expire on December 21st, Yenny will officially finish her work for JYP in January next year, Yubin‘s contract expires in September of 2014, followed by Hyelim, who was the last to join Wonder Girls and whose contract expires somewhen in 2015. However, the new agency cannot ignore Wonder Girls’ popularity and the revenue they brought to the company. It is safe to say, that it was thanks to Wonder Girls that JYP raised from a mid-sized company to a big corporation that made its place in the top 3 of Korean entertainment agencies. To prove it, here are presented some statistics: in 2010, Wonder Girls generated $5 million dollars for JYP, which was a quarter of the company yearly revenue. One year later they generated $1.58 million, which accounted for 9.55% of JYP’s yearly revenue, and in 2012 they generated twice as much, $3.9 million, which accounted for 16.54% of the yearly revenue. Unfortunately, there is another side to that. Wonder Girls lost millions of dollars for JYP when their US debut in 2011 happened to be a total failure. JYP Entertainment Corporation, a U.S.-based entertainment firm solely established for the sake of promoting JYP artists, took a severe hit due to Wonder Girls’ US flop. They have not posted a profit since. JYP Entertainment ensured that there are still no talks regarding Wonder Girls’ future contract, but it did not stop the rumors to arise as many are wondering if the girls will disband and will try to puruse solo careers instead.
Posted on: Thu, 26 Sep 2013 20:16:03 +0000
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