South Korea’s CJ ENM Forms Joint Venture with JYP China, Tencent Music

South Korean entertainment and retail company CJ ENM has formed a joint venture with JYP CHINA and Tencent Music Entertainment (TME), focused on the Greater China market.

Why it matters:

• The partnership signals greater collaboration between Chinese and Korean companies following a period of friction in which K-pop groups were reported to have been unofficially barred from performing in China.

The partnership:

• Is named ONECEAD and has been established via NCC Entertainment, a company founded by JYP’s Chinese subsidiary and TME, China’s largest operator of streaming services.

• As per Music Business Worldwide (MBW), it will focus on “artist development and management, with plans to expand into music production, live events, and merchandise.”

• It will combine “CJ ENM’s content production expertise with JYP CHINA and TME’s local infrastructure and networks.”

First project:

• ONECEAD’s first project will be managing seven-member group MODYSSEY, which was formed through Chinese reality show PLANET C: HOME RACE.

Previous form:

• As per MBW, CJ ENM has had success with a similar JV in Japan, partnering with LAPONE Entertainment.

• Last year it teamed with Japanese advertising firm Hakuhodo to launch a JV called Chapter-I, aimed at developing music-based IP.