BTS' company acquires Scooter Braun's Ithaca Holdings, including Justin Bieber and Ariana Grande
HYBE, Formerly Big Hit Entertainment, Acquires Scooter Braun’s Ithaca Holdings Bringing Together BTS, Justin Bieber and Big Machine (EXCLUSIVE) https://t.co/IY7NmvsXuw
- Variety (@Variety) April 2, 2021
BTS are signed to Big Hit Music, which is a label under the larger company HYBE (previously known as Big Hit Entertainment). That said, BTS were basically the only artists under HYBE originally and are the reason they have become a massive company, all seven members also have significant shares in HYBE, so big money moves means they are also making bank individually.
Over the past few years, HYBE has acquired a bunch of smaller kpop labels and started new subsidaries that brought in major kpop talent like Seventeen, Gfriend, etc. They recently created a new branch of their structure called Big Hit America, and this morning announced that under that branch they have acquired Scooter Braun's company Ithaca Holdings, including Scooter's management company SB Projects, and country label Big Machine.
The deal encompasses a range of services including management, label services and publishing for a combined roster that includes BTS and other HYBE kpop acts, with Justin Bieber, Ariana Grande, J Balvin, Demi Lovato, Thomas Rhett, Florida Georgia Line, Lady A and more artists on the SB Projects and Big Machine rosters. While the kpop labels remain separate and indepdent from the Big Hit America branch, this still effectively brings all these artists under one company.
A reminder that Scooter has already sold Taylor Swift's masters, so that was not part of the deal, but.................BTS, congrats on your bank accounts.
A more in-depth chart to illustrate HYBE & the companies underneath it
- HYBE America was previously BigHit America
- BigHit Music is owned by HYBE but it operates independently
- it was announce 4/01 that BH IP & BH 360 merged into BH Music (source linked in following twt) https://t.co/5XAx5zS7YA pic.twitter.com/WQckXhxCcN
- ᴮᴱwinterly⁷ ❄️🌸 대체불가 대체불가 (@winterlyblooms) April 2, 2021
source source
Honestly I just hope this means an Ari x BTS collab might happen.