Big Hit, the world’s #1 platform was born Target price ↑-one

[이데일리TV 이지혜 기자] Hive (formerly Big Hit Entertainment), the agency of BTS (BTS), and Ithaca Holdings (CEO Scooter Brown), an American general media company, have joined hands to innovate and develop the global music industry. Hana Financial Investment raised its target price by 13% from W320,000 to W360,000 on the 5th, saying it is expected to raise its valuation following the acquisition of Ithaca.

Hive announced on the 2nd that its subsidiary Big Hit America will acquire 100% of Ithaca Holdings for about 1.2 trillion won. The core project is the SB Project (Scooter Braun Project), which Justin Bieber and Ariana Grande belong to, and major artists participated in Hive’s three-party capital increase along with Scooter Brown, who was appointed as an in-house director. Participation is about 860,000 shares, which is more than about 470,000 shares of BTS.

Lee Ki-hoon, a researcher at Hana Financial Investment, said, “The number 1 (Justin Bieber), 3rd (BTS), 4th (Ariana Grande) on YouTube subscriber ranking based on global artists will become a single agency. It will become the world’s best online fan community platform in which 22,000 artists with total YouTube subscribers of the 1st to 4th place cooperate.”

Researcher Lee added, “The overwhelming global No. 1 platform is expected to grow rapidly,” adding, “There are continued investments and acquisitions and strategic partnerships to share online fan communities, planning, and production capabilities, such as the future growth engine Weverse.” .

For six months after listing, Big Hit has made active moves such as △acquisition of VLive, △investment of two major shareholders of YG Plus, △Universal Music and two JVs (Joint Ventures) △Acquisition of Ithaka.