[Click eStock] "JYP Entertainment, Expanding Artist Lineup and Platform Business"

Ebest Investment & Securities Report
Target Price Raised by 15%

[Asia Economy Reporter Minji Lee] Ebest Investment & Securities maintained a buy rating on JYP Ent. (Entertainment) on the 2nd and raised the target price by 15% from the previous level to 53,000 KRW.

JYP Entertainment is striving to expand its platform business and global artist lineup. Currently, JYP Entertainment is conducting auditions to select a global boy group through the SBS Loud Project, and on the 4th of last month, it acquired a 23.3% stake in SM subsidiary DearU Bubble for 21.3 billion KRW. Yesterday, it continued efforts to strengthen growth momentum by entering the NFT (Non-Fungible Token) platform business linked to K-POP in collaboration with digital asset exchange Dunamu.

With this share sale, major shareholder Park Jin-young's stake will decrease from 18.23% to 15.72%. Dunamu made the investment by acquiring existing JYP shares and plans to establish a new corporation for joint business.

Researcher Ahn Jin-ah of Ebest Investment & Securities said, "It appears to be joining the ranks of platform business expansion following HYBE and SM," adding, "They plan to create content using affiliated artist IP and leverage Dunamu's blockchain technology and global network to seek synergy effects in the NFT platform business."

However, since the platform business differs from existing entertainment companies' platform businesses, it remains to be seen how the blockchain-based platform business will unfold. Additionally, it seems difficult to expect noticeable external expansion in the artist lineup this year.

Researcher Ahn Jin-ah explained, "Currently, the global boy group NiziU Boy and the Loud Project debut are scheduled," and added, "Starting next year, the momentum for expanding the global artist lineup and platform business will be fully reflected."

This content was produced with the assistance of AI translation services.