JYP Entertainment is reportedly aiming to launch a total of four idol groups, which will be formed through various programs, including the SBS audition show “LOUD,” and will make their debut in different countries.
On March 19, Hyundai Motor Securities Co. Ltd. revealed that JYP Entertainment’s sales in the fourth quarter of last year fell 6% to 41.6 billion Won and operating profit fell 22.1%, over the same time period, to 10.5 billion Won which was below expectations.
The problem in the first quarter of this year is that decline in earnings is inevitable due to the hiatus of JYPE’s major artists. However their comeback is concentrated in the second quarter. Stray Kids, TWICE, ITZY and 2PM would be making their comebacks between April and June 2021, while Japanese girl group NiziU are said to release their second album in April.
It is a well-known fact that TWICE album sales have declined since their peak in 2018. Even if Stray Kids fills up the vacant position caused by the withdrawal of GOT7 and NiziU and ITZY do well, if TWICE (accounted for 37% company-wide sales in 2020) continues this negative growth, the overall growth of the company would slow down.
It was then stated that JYPE is planning to launch four new groups by 2022. One of these groups would be formed through the SBS audition show “LOUD”. In November 2020 it was announced that JYPE’s J.Y. Park and P NATION’s PSY will team up for the SBS show “LOUD” which aims to create a global boy group. Unlike other audition shows which work with participants training under agencies, “LOUD” is open to teenage boys around the world who wish to be an idol. JYPE is also said to be launching a Chinese boy group later this year along with a male version of NiziU in Japan, and an idol group in the United States in 2022.
Meanwhile, JYPE is being ridiculed on social media for the decision of launching new groups. Netizens have been advising the agency to treat its existing artists well before thinking of launching other groups.
JYP Entertainment’s Plan To Debut Four Idol Groups Starting from the Second Half of 2021 Until 2022
According to Joy News 24, JYP Entertainment is expected to see a 60% increase in its operating profit in two years, which will be a total of 70 billion KRW (61.9 million USD). The gain would be based on the renewal of contracts with JYPE’s Chinese music company, their Japanese girl group NiziU, and their future idol groups.
One of these teams will be formed through the SBS audition show “LOUD,” as mentioned above. And, it was previously revealed that the boy group will be launched in the second half of this year. JYPE is also said to be debuting a Chinese boy group later this year, as well as launch a male version of NiziU in Japan, and an idol group in the United States in 2022.
The upcoming K-pop boy group later this year will be the first K-pop idol group to debut under JYP Entertainment after more than two years since ITZY’s debut in February 2019. Also, it will be the first-ever boy group of JYPE after more than three years since Stray Kids’ debut in March 2018.
The forthcoming Chinese boy group will be JYP’s second one after Boy Story, which was launched in September 2018. The Japanese boy group will be the company’s very first one, and the second team after NiziU. And the American idol group will also be the label’s first-ever group to debut in the USA.