The information has been leaked revealing the true cause why the JYP Entertainment idols decided to leave the agency after their 7-year contract expired on January 19th, 2021. Keep reading for more details.
A week after the official announcement of Got7's separation from the company founded by Park-Jin Young, the true reason for the group's decision not to renew their contract with the agency has been leaked.
Apparently, the idols would have signed an initial contract where the group's earnings were divided into percentages between them and the agency.
For sales within South Korea, the percentage would be 50-50 but with respect to international earnings, idols would have a higher percentage of income than the JYPE.
What does this mean? That at a certain point in their careers, JB, Mark, Jackson, Jinyoung, Youngjae, BamBam, and Yugyeom were earning more than Park Jin Young himself.
This is in addition to the fact that the members of the group began to write and produce their own songs, receiving the credits and profits derived from them.
It is for this reason, that at the time of renewing the 7-year contract with the idols, JYP would have tried to change the contractual conditions of the group, failing in the attempt.
Obviously, Got7 did not agree to stop receiving the proceeds agreed in 2014, when they debuted.
Fans have complained several times about the agency's lack of promotion of Got7, and with this new information, they finally understand why.
The truth is that the singers have decided to try their luck outside the company that created them and in fact, some of them have already signed contracts with other agencies to undertake their new solo projects.
Jackson and Youngjae for example have signed with Sublime Artist Agency already and we are waiting for new musical works from them not only as soloists but a reunion of the lucky 7 in the near future.