JBJ is a project group with members from 'Produce 101' season 2. Kakao M (formerly LOEN Entertainment) and CJ E&M joined forces for the production of the boy group, while Fave Entertainment took charge of the management.
According to an exclusive report by Sports Seoul, JBJ completed their final payment adjustments back in February. Based on the reports by insiders, it's estimated that the sales added up to be 4 billion KRW (3.7 million USD). The net profit is estimated to be 20 to 30% of the sales, and 25% will go to Kakao M, another 25% will be going to CJ E&M, and the remaining 50% will be split with the members, then the members will be sharing that with their agencies in a 7:3 (70%/30%) or 5:5 (50%/50%), depending on their individual contracts.
A rep from an agency revealed, "At the time of JBJ's start, 7 billion KRW was the goal for their 7-month promotion. At this rate, it seems they will be able to reach that goal."
The rep also stated, "The sales and net profit is not that high compared to other idol groups. It was a project group to start with so it was our plan to present quality content rather than going for the profit. We can proudly say that we put utmost effort and care into the MV production, members' dorms, stylist, etc."
As for the group's failure in extending the promotion period, the rep said, "The companies, agencies, and the members all had strong desires to extend, however, there were some agencies and members who had different opinions and it was decided that we will respect that decision. We're very apologetic to the fans."
Meanwhile, JBJ is scheduled to release their final album on April 17.
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