[User Post] JYP Entertainment rumored to have changed their contract structure because of GOT7 as the previous one benefited the group more than the company
Posted by notalovelyworld911 pts Wednesday, January 27, 2021
Apparently, the change came because their previous contract structure consisted of 60% for the company and 40% for the artist for their domestic promotions. While 30% for the company and 70% for the artist for international promotions.
As GOT7 became one of the most popular kpop groups internationally, their earnings became huge. The company had to pay accordingly (30% to the company/70% to the artist) for international promotions as stated in the contract.
With this, fans are thinking that maybe that was the reason why the company didn't promote the group more as the members were receiving a bigger portion (+40%) of money than them.
Even one clip of J.Y. Park is resurfacing as he tells Jinyoung that he earns way more than him.
Meanwhile, GOT7 parted ways with JYP Entertainment on January 19th and they shared their intentions to remain together for a long time as they share an incredible bond as a team.
fantasticlau2,576 ptsWednesday, January 27, 2021 16
Wednesday, January 27, 2021
If we stop being emotional and look from a business standpoint, it makes perfect sense. If one business makes more profit than the other, it’s natural to prioritise promoting the business that makes more profit. And if a business doesn’t make enough profit, you shut it down. But if that’s the case, then that means not only GOT7 wanted to leave, but JYP also wanted them to leave, hence the mutual agreement to end the contract. I honestly don’t know why’s everyone hating on JYP for doing exactly what every company does. They’re not a charity. And GOT7 isn’t in need of any charity either. They just thought they both would be better without each other, so they both agreed to end everything in a civil way. Nothing else to discuss here. I wish the best for all the members in their future careers.
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yvangelica8,777 ptsWednesday, January 27, 2021 8
Wednesday, January 27, 2021
Maybe that's the reason TWICE, bring a lot of revenue to the company... They are very famous in SK, but didn't have the same impact as GOT7 worldwide.
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If we stop being emotional and look from a business standpoint, it makes perfect sense. If one business makes more profit than the other, it’s natural to prioritise promoting the business that makes more profit. And if a business doesn’t make enough profit, you shut it down. But if that’s the case, then that means not only GOT7 wanted to leave, but JYP also wanted them to leave, hence the mutual agreement to end the contract. I honestly don’t know why’s everyone hating on JYP for doing exactly what every company does. They’re not a charity. And GOT7 isn’t in need of any charity either. They just thought they both would be better without each other, so they both agreed to end everything in a civil way. Nothing else to discuss here. I wish the best for all the members in their future careers.
16 more replies