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JYP Entertainment, home to ITZY, TWICE & more, all set to debut four new groups by the upcoming year
JYP Entertainment is aiming to debut four new groups, in different countries, which will be formed through various survival reality programs.
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.
ALSO READ: Studio Choom’s Artist of The Month: ITZY’s Yeji!
What is your opinion on this matter? Should JYPE focus on their own groups rather than creating new ones or is it high time they debut a new group? Share your thoughts with Pinkvilla in the comments section down below!
