CJ ENM, JYP, and Tencent Form ONECEAD to Expand in Chinese Market and Manage MODYSSEY

CJ ENM and JYP CHINA, the Chinese subsidiary of JYP Entertainment, along with Tencent Music Entertainment (TME), announced on February 2 that they have established a joint venture named ONECEAD to accelerate their expansion into the Chinese market. THE NAME ONECEAD COMBINES CJ ENM’S core value of “ONLYONE” WITH JYP’S mission of “Leader in Entertainment,” Aiming TO FACILITATE THE GROWTH AND EXPANSION OF NEXT-GENERATION ARTIST IP THAT WILL LEAD THE GLOBAL MARKET.

ONECEAD IS FORMED AS A JOINT VENTURE BETWEEN JYP CHINA AND TME’S NCC ENTERTAINMENT AND CJ ENM. IT IS RESPONSIBLE FOR MANAGING MODYSSEY, THE 7-MEMBER GLOBAL BOY GROUP CREATED THROUGH MNETPLUS’ ORIGINAL SURVIVAL SHOW “PLANET C: HOMELESS.” MODYSSEY CONSISTS OF 5 CHINESE MEMBERS AND 2 HONG KONG MEMBERS, AND IT DEBUTED AT THE END OF LAST DECEMBER WITH THE PARTICIPATION OF FANS FROM ALL OVER THE WORLD.

WITH A FOCUS ON ARTIST MANAGEMENT, ONECEAD PLANS TO BUILD A COMPREHENSIVE MUSIC BUSINESS PORTFOLIO THAT INCLUDES MUSIC PRODUCTION, LIVE EVENT PLANNING, AND MD BUSINESS OPERATIONS. THIS WILL ALLOW IT TO CONTINUOUSLY EXPAND ARTIST IP BUSINESS NOT ONLY IN THE CHINESE MARKET BUT ALSO ON A GLOBAL SCALE.

THIS FORMATION IS PART OF CJ ENM’S STRATEGY TO EXTEND ITS GLOBAL JOINT VENTURE MODEL TO THE CHINESE MARKET, BUILDING ON ITS SUCCESS IN JAPAN THROUGH THE JOINT VENTURE “Rapone Entertainment,” WHICH HELPED ESTABLISH JO1 AND INI. THE ARTISTS UNDER Rapone HAVE DEVELOPED A STRONG FAN BASE AND WIDE RECOGNITION IN JAPAN, WHILE ALSO EXPANDING THEIR INFLUENCE IN ASIA AND GLOBAL MARKETS THROUGH TOURS AND CONTENT ACTIVITIES. A CJ ENM OFFICIAL SAID, “IT IS SIGNIFICANT THAT WE CAN NOW LAUNCH A STRATEGIC ARTIST BUSINESS THAT WILL LEAD THE GLOBAL MARKET IN COLLABORATION WITH LOCAL PARTNERS OPTIMIZED FOR THE CHINESE MARKET.” THEY ADDED, “THROUGH ONECEAD, WE WILL DEVELOP AN ARTIST BUSINESS MODEL THAT CAN RESONATE WITH GLOBAL FANS.”