A South Korean girl group called ITZY made its debut in February 2019. There are five people in the group: Yeji, Lia, Ryujin, Chaeryeong, and Yuna. They gained a sizable fanbase both in South Korea and abroad thanks to their distinctive sound and dynamic performances. But what business is ITZY a part of?
One of the top three entertainment businesses in South Korea, JYP Entertainment, is the parent company of ITZY. The producer and singer-songwriter Park Jin-young established JYP Entertainment in 1997. Over the years, the firm has given rise to a number of notable performers, including Wonder Girls, 2PM, GOT7, and TWICE. JYP Entertainment is renowned for its dedication to creating top-notch music and performances and for investing heavily in the talent development of its performers.
JYP Entertainment is not the richest entertainment company in South Korea in terms of wealth. That honor belongs to SM Entertainment, the label behind well-known bands like Red Velvet, Super Junior, and EXO. With a net income of more than 50 billion won in 2020, JYP Entertainment is still quite profitable. The company’s talented artists and flexibility in responding to shifting trends in the entertainment market are both responsible for its success. The entertainment industry as a whole has the potential to be extremely profitable. The music industry, with revenues expected to exceed $21 billion in 2020, is perhaps the most lucrative sector of the entertainment industry. This covers earnings from physical purchases, live performances, and digital streaming. However, industries like gaming, television, and movies also generate large revenues.
A degree in entertainment business might be something to think about if you want to work in the entertainment industry. These degree programs give students a thorough understanding of the business side of the industry by covering subjects including artist management, marketing, and finance. Graduates from programs in the entertainment industry may find employment with record labels, talent agency, or production firms.
As a prominent and lucrative entertainment business in South Korea, JYP Entertainment is the parent company of ITZY. JYP Entertainment has created numerous famous singers despite not being the richest organization in the sector, and it continues to evolve with the times. The music industry is the most lucrative area of the entertainment industry, which as a whole is quite profitable. A degree in entertainment business can be a fantastic place to start if you’re interested in working in the sector.
With a revenue of more than $65 billion in 2020, Walt Disney firm will be the largest entertainment firm in the world as of 2021. The management of well-known bands like TWICE, GOT7, and ITZY is handled by JYP Entertainment, one of the major entertainment firms in the K-Pop sector.