CJ ENM (CEO Yoonsang), a global IP powerhouse, partnered with JYP CHINA, the Chinese subsidiary of JYP Entertainment, and Tencent Music Entertainment (TME), China's largest music platform, to target the Greater China music market.
CJ ENM announced on Feb. 2 that it launched the joint venture (JV) NCC Entertainment and the joint venture "Onecead (ONECEAD / 万希德)" established jointly by JYP CHINA and TME, and will begin full-scale global artist operations based in Greater China. The establishment of this JV is a strategic decision to systematically operate and expand artist activities and to progressively develop artist businesses across music production, performances and commerce.
The joint venture name "Onecead (ONECEAD)" combines CJ ENM's core value "ONLYONE" and JYP Entertainment's mission "Leader in Entertainment," conveying the direction to drive the growth and expansion of next-generation artist IP that will lead the global market.
CJ ENM successfully established artist management and music businesses in Japan through the joint venture "LAPONE Entertainment." LAPONE artists JO1 and INI built solid fandoms and mainstream recognition centered in Japan, and expanded their influence in Asian and global markets through tours and content activities, establishing themselves as artist IPs with competitiveness beyond borders. Through this, CJ ENM has proven its business capability to operate artists optimized for local markets and link that to global expansion.
The establishment of "Onecead" builds on these successful experiences and is a strategic move to extend the global joint model to Greater China. CJ ENM's content and music production capabilities combined with NCC's (the JV of JYP CHINA and TME) strong local infrastructure and network are expected to further strengthen competitiveness in global artist business centered on Greater China.
In particular, the joint venture "Onecead" will take charge of the overall activities and management of the debut group formed through the original survival series Planet C: Home Race on global content platform Mnet Plus. Planet C: Home Race is a project expanded from Mnet's Boys 2 Planet, and at the end of Dec., with participation from fans worldwide, the seven-member global boy group "Modyssey (MODYSSEY / HENGYU, PANZEI, LIZHAO, LINLIN, SULUN, YICHEN, ROWAN)" was formed.
The joint venture "Onecead" plans to build an all-round music business portfolio centered on artist management, including music production, live performance planning and merchandise business, and to continuously expand its artist IP business across not only Greater China but the global market.
A CJ ENM official said the move is meaningful because it allows the company to fully develop an artist business that will lead the global market together with local partners optimized for the Greater China market, and added that "through Onecead we will complete an artist business model that global fandoms can relate to."
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