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And Finally Business News Labels & Publishers
K-pop agency JYP to stop selling CDs in effort to be more environmentally sustainable
By Andy Malt | Published on Wednesday 10 August 2022
K-pop agency JYP Entertainment, which works with girl group Twice among others, has announced that it plans to stop manufacturing physical releases for its artists, in an effort to become more environmentally sustainable. It also hopes to make artist merch as eco-friendly as possible.
Although streaming is now by far the biggest revenue generator for the global record industry, the sale of CDs and vinyl records still generated 19.2% of the sector’s worldwide revenues last year. And in South Korea, physical remains an even bigger deal, accounting for 32.4% of 2021 revenues. But won’t somebody somewhere think about all the plastic and packaging that involves?
In its annual report, JYP says: “Since the environment is a global problem, we need to solve it together through global solidarity. JYP Entertainment is conducting various activities both internally and externally to reduce environmental impact. [By] promoting environmental impact-reducing albums and [merch], JYP Entertainment strives to reduce the environmental impact of content”.
It goes on to say that “in order to reduce waste generated when purchasing albums” it is now planning to launch various “digital-based” album formats to completely replace CDs. The only physical item fans will receive with album purchases are photo cards, with various eco-friendly options being considered for the production of those and other merch.
“We will actively utilise eco-friendly materials such as biodegradable plastic made from nature and upcycling products using discarded waste, and expand the reusable products that can be reused several times, such as clothes, eco-bags and tumblers using natural materials”, it goes on. “To this end, we will also work hard to create social value by reviewing cooperation with social enterprises and social ventures in various ways”.
“As such”, it concludes, “JYP Entertainment will create a K-pop culture where the entertainment industry and the environment can continue to co-exist through content containing environmental values”.
In a presentation alongside the report, JYP founder Park Jin-Young said that the company is working to “raise awareness of environmental campaigns” and “doing our best brainstorming to find the most environmentally friendly way to replace and reform the CDs of our artists”.
You can read the company’s full ‘Leader Of Change’ report here, and watch Jin-Young’s presentation here:
