Counterattack by Park Jin Young: JYP takes an upturn
Crisis of JYP
JYP entertainment is well known as one of the 3 biggest kpop agencies. Well, however, the agency couldn't live up to its name for the past few years. SM produced the most popular kpop idol group EXO, and YG's Akdong Musician and Winner made a successful debut, but JYP has made little progress in its effort.
Actually, some people in kpop world have already started to count FNC, home to FT Island, CNBLUE, and AOA, as the big 3 kpop agencies along with SM and YG. Let's see. Both FNC and JYP are listed companies. FNC has a market cap of about 271 billion won, while JYP has a 201 billion won market cap. And FNC's sales reached 60 billion won in 2014, while JYP's sales were 48 billion won.
Counterattack by JYP
However, JYP started to take an upturn after Miss A released its new song 'Only you' on March 30 2014. The song topped various online music charts, while Suzy's romance with Lee Minho has been the biggest issue of kpop world. And on April 12, Park Jin Young received the baton by releasing his song 'Who's your mama?'.(I think the song is one of the best kpop music of 2015) As first and second on online music charts, the two songs are now widely loved by music fans.
The interesting thing is that Miss A and Park Jin Young used opposite strategies. Miss A's song 'Only you' was written by a famous composing team Black Eyed Pilseung. Park Jin Young, the executive producer of JYP, didn't take part in writing any songs of the girl group's new album. But Park Jin Young's 'Who's your mama?' was written by himself. The song contains Park Jin Young's unique characteristics as a composer. Well, for now, nobody can stop JYP.
Gather momentum from this success, JYP is preparing for its new girl group's debut.
Still Lacks Promotional Skills
I've already pointed out JYP's lack of promotional skills through this article. Actually, even though Miss A and Park Jin Young made a big success, there still is something I can't understand.
Miss A released its album on the same day with EXO. Of course, Miss A's song is ranked higher than EXO's 'Call me baby' on online music charts. However, do you think the girl group will be able to win a first prize at music chart shows? Never. EXO overwhelms Miss A with its album sales and viewers' votes. JYP needed to delay Miss A's album release.
And it's also above comprehension that Park Jin Young released his song only 13 days after Miss A's album was released. Due to the popularity of 'Who's your mama?', Miss A's song is receiving relatively less attention from people. About this, before releasing the song, Park Jin Young strongly urged that he has to release the song at this time of year. That's why some people in kpop world are blaming him for being selfish.