CJ ENM said on the 2nd that it will team up with NCC Entertainment, established by JYP China and China's Tencent Music Entertainment (TME), to operate a joint venture called "ONECEAD."
The plan is to build an independent intellectual property (IP) ecosystem that covers everything from planning to distribution, using the local corporation as a base. The name "ONECEAD" combines CJ ENM's value of "Only One" and JYP's mission of "leader in entertainment" to signify a commitment to fostering next-generation global artists.
Earlier, CJ ENM established the joint venture Lapone Entertainment in Japan and introduced the boy bands JO1 and INI. ONECEAD likewise is expected to deliver results by combining CJ ENM's content production capabilities with NCC's local network.
The first project is the seven-member boy band "MODYSSEY," formed through a global audition program. Seven members, including Heng Yu and Pan Zheyi, selected through Mnet Plus' survival show "Planet C: Home Race," plan to carry out activities overseas, including in the Greater China region. ONECEAD will lead not only their album production but the entire IP business, including concerts, MD, and commerce.
A CJ ENM official said, "It is meaningful that we are launching an artist business to lead the global market together with partners optimized for the Greater China market," adding, "We will build a differentiated business model that can resonate with a global fandom across borders."