Jyp is the world’s leading online entertainment platform for musicians, filmmakers, and musicians, offering a global music catalog spanning more than 100 million songs.
The company is known for the JYP Music Network, which allows users to instantly listen to thousands of songs at one time from hundreds of music streaming platforms.
Jyp recently announced it was acquiring Jyp Studios, the production company behind popular YouTube series, The Laundry Room, for US $200 million.
The deal was announced on February 21, 2018, and Jyp will be acquiring the remaining assets of the former company, as well as the entertainment studio.
“We have a strong track record of building great businesses for musicians and filmmakers, but our music catalog is a perfect fit for our rapidly growing business model,” Jyp CEO Brian Jaffe said.
“The Jyp Music Network is one of the most popular music-streaming platforms in the world, and it will give us even more opportunities to grow our content and grow the audience we have for our brand.
Our music catalog includes some of the world ‘biggest’ artists in the game today, and we’re excited to welcome Jyp to the Jyp family.”
“Jyp is an extremely talented and exciting company with a unique product and a passionate audience,” said Jeffery S. Green, CEO and Founder of Jyp.
“They have proven to be a great partner in the past, and I look forward to joining their growing global family.”
Jyp said the acquisition of JYP will create new opportunities for its artists and their fans, and increase their ability to grow their global business.
“Over the past year, we have had a very strong partnership with Jyp, and the new Jyp deal with JYP Studios is a testament to the tremendous value Jyp has for artists and fans,” said Jyp Executive Vice President of Global Marketing, Ben Sow.
“It will allow Jyp artists to continue to share their music with fans across all platforms, from smartphones and social media to digital devices and more.
With the Jym deal, we’re getting more musicians and fans to engage with the company and its content, and this is a win-win for all involved.”
The Jyp purchase will provide Jyp with additional capacity and access to its catalog.
“Our commitment to the industry will only grow with our expansion in new markets,” said David C. Henson, CEO of Jys Software, Inc. “JYP is a global leader in music and video content and we look forward being part of this exciting transformation.”
Jys will be renamed to Jyp Media, Inc., a division of Jym, after the acquisition.
Jys announced that it had reached an agreement with Jys to develop and launch the Jys Media, an online entertainment and digital music platform for users across the globe.
JYS Media, will operate from Jys’ offices in the United States, Canada, Australia, and New Zealand.
Jym is headquartered in London, England.
JYP, Jys Entertainment, and its subsidiaries are headquartered in Los Angeles, California.