Live Nation is seeking a major expansion in K-Pop through a multi-year deal with Twice's management company JYP Entertainment.
Through the agreement Live Nation will produce tours for all artists on JYP’s roster. These also include Stray Kids, ITZY, Xdinary Heroes and NMIXX.
The deal formalises an arrangement between the two businesses, with Seoul-headquartered JYP having worked with Live Nation to promote and produce tours together in previous years.
“JYP Entertainment’s expertise as an innovative talent and management company coupled with Live Nation’s vast global touring resources will create new opportunities for artists to connect with their fans on a larger scale than ever before,” said a Live Nation spokesperson.
“Together, the two companies will continue to bring their creativity and expertise to JYP’s artists, expanding their global growth.
“With Live Nation currently operating in over 45 countries around the world and selling over 140 million tickets to promoted shows globally in 2023 to date, the partnership will bring unparalleled reach for K-Pop acts worldwide.”
JYP and Live Nation have already made history
JYP Entertainment’s artists have made history on former world tours operated by Live Nation.
Twice become the first-ever K-Pop girl group to headline shows in National Football League and Major League Baseball stadiums. The nine-piece sold out both the SoFi Stadium in Los Angeles and New Jersey’s MetLife Stadium. They are currently on their fifth world tour, which is their largest to date as 44 concerts are scheduled across 25 cities around the world.
Stray Kids will also look to break more records after recently finishing their second world tour of 42 shows in 18 cities which saw them become the second K-Pop boy group to perform at a stadium in North America.
The two businesses said the deal puts JYP Entertainment and Live Nation at the forefront of K-Pop’s growing global expansion. It is expected to facilitate further growth for JYP Entertainment’s aim of increasing its global reach. It also marks a concerted effort from Live Nation to expand its presence in the lucrative K-Pop market.
In 2021, the global K-Pop events market was valued at $8.1bn and is projected to reach $20bn by 2031.
Earlier this month, it was announced that Live Nation would be working with K-Pop group IVE on their first world tour.