JYP to strengthen their strategic collaboration with the U.S music label Republic Records, focusing on boosting Stray Kids and ITZY’s global success
JYP Entertainment will strengthen their strategic collaboration with the famous U.S label Republic Records, aiming for the global success of Stray Kids and ITZY after TWICE.
On the afternoon of February 10th (New York time), Republic Records of Universal Music, which has been selected as the No.1 music label in the U.S for many years, announced through local media, “We will strengthen our strategic collaboration with JYP Entertainment, a company that is spreading the power of KPOP to the world. Stray Kids and ITZY will join our force, with the goal of success in the U.S and global markets”. As a result, JYP Entertainment and Republic Records will actively expand their global partnership by applying the synergy of strategic collaboration created by the two companies, which has started with TWICE in Feb 2020, to the performances of Stray Kids and ITZY.
Stray Kids is taking the lead as a “representative group of KPOP’s 4th generation” with their remarkable growth. Their second full album “NOEASY” released in August surpassed 1.3 million copies in sales, making the boy group become the first “Million Seller Artist” from JYP Entertainment. Based on Spotify’s selections, among the 10 most-streamed Korean artists worldwide on Spotify in 2021, Stray Kids proudly rose to the second place in the male group category. In the most-streamed KPOP artist rankings on Apple Music in 2021, the boy group also ranked No.5, which is the highest rank among KPOP’s 4th generation groups.
ITZY achieved more global achievements than expected with their unique performance skills. Following their first entry to the U.S Billboard Main Chart “Billboard 200” with the 4th mini album “GUESS WHO”, which was released in April 2021, their first full album “Crazy In Love” released in September of the same year raised their previous record on “Billboard 200” by 137 spots, achieving the best performance by ranking No.11. Including Billboard’s Main Chart, ITZY succeeded in charting in 12 categories. Especially, ITZY was the first KPOP’s 4th generation group to surpass 6 million monthly listeners on Spotify, boasting their unique presence in the music industry.
Jeong-wook, a CEO from JYP Entertainment, said, “Starting with TWICE’s successful start in the U.S activities in collaboration with the U.S best label Republic, the two companies are happy to share the future developments of the lineup of major artists. Expectations are high as there are many categories that the two companies can take the lead in, not only the global development of artists but also the rapidly changing internal and external environment of the music industry”.
Monte Lipman, CEO and Chairman of Republic Records, also shared, “JYP Entertainment is the most influential voice representing this era in which we live. Their passion and vision for this strategic collaboration are truly great. Having worked with JYP Ent. for many years, I think this is a respectful partner and friend”. In an official press release, he also raised expectations by saying, “As the two companies have joined forces to strengthen efforts in leading the music market together, more news based on our interesting and groundbreaking partnership is expected to be announced soon.”
Republic Records was founded by the brothers, Monti Lipman and Avery Lipman, and has topped the Billboard’s label rankings for years with numerous superstars, such as Taylor Swift, Ariana Grande, The Weeknd, Drake, Post Malone, John Legend, Lil Wayne, etc. who have gained splendid and spectacular awards and achievements.
Meanwhile, JYP Entertainment and Republic Records have increased their influence and settled TWICE in the global music market ever since they announced their strategic collaboration earlier. In November, TWICE entered at No.3 in “Billboard 200” with their 3rd full album “Formula of Love: O+T=<3”, achieving their own best performance and the highest rank among KPOP groups as of 2021.
TWICE’s first English single “The Feels”, which was released in October last year, entered the Billboard Pop Airplay Chart, which ranks songs reaching the largest number of audiences on pop radio stations in the U.S, and proved their reputation as the first KPOP girl group to reach Billboard Hot 100 as of last year.
In addition, “Taste of Love”, TWICE’s 10th mini-album released in June last year, ranked 6th place in “Billboard 200”, setting the highest record in the history of mini albums released by KPOP girl groups. Accordingly, TWICE will hold 7 performances of their 4th world tour in 5 U.S cities from Feb 15th to Feb 16th this year.
