The CEO of RBW Entertainment, Mamamoo's agency, recently held an interview discussing the company's business plan for Mamamoo and the group's profitability.
According to CEO Kim Jinwoo, "We spent a total of 2 billion won (approximately $1.74 million) investing in Mamamoo, and the group has already recouped that investment in just 1 year and 8 months.
Kim also took money from other departments and spent it on Mamamoo when their production budget was too low. However, this was only possible because the other departments were doing so well that they had extra funds available.
The CEO believes that Mamamoo's incredible success is due to the fact that he allows the members of the group to pursue their own creative visions during album production.
Mamamoo debuted on June 18, 2014, over 2 years ago.
RBW Entertainment has chosen a path different than large companies like YG and SM Entertainment, using a design philosophy that emphasizes fundamentals and simplicity, which may have contributed to Mamamoo's phenomenal success.
