[OSEN=지민경 기자] HYBE (Chairman Bang Si-hyuk) took over Ithaca Holdings (CEO, Scooter Brown), an American general media company, foreshadowing a shift in the global music market.
Hive announced on the 2nd that its subsidiary Big Hit America will take over 100% of Ithaca Holdings. The acquisition targets include the Scooter Braun Project (SB Project) led by Ithaca Holdings founder Scooter Brown and the Big Machine Label Group (CEO Scott Boseta).
Ithaca Holdings, founded by Scooter Brown, well-known in Korea for managing Psy’s overseas, operates in various fields such as music, IT, film, and culture.In particular, the SB project includes Justin Bieber and Ariana Grande. Grande, Black Eyed Peas, J Balvin and Demi Lovato.
Hive has shown interest in Ithaca Holdings for a long time as a pioneer in the music industry that focuses on artist branding, and since Ithaca Holdings responded, consensus about the cooperation between the two companies was rapidly formed, leading to a partnership agreement.
In the future, Hive and Ithaka Holdings will establish a foundation for targeting the global market by establishing a global top-tier multi-label system as well as engaging in album production and management activities of various global artists through partnership.
Hive Chairman Bang Si-hyuk said, “This new partnership with Ithaca Holdings is a new challenge that no one has ever imagined, and the two companies create a high level of synergy through close collaboration across borders and cultural boundaries based on their accumulated achievements, know-how, and expertise. “We hope to see the infinite possibilities of Hive and Ithaca Holdings, which will open up a new paradigm in the music industry on a different level than before,” he said.
Through this acquisition, Hive will have artists who are dominating the global music market, such as BTS and Justin Bieber, who are enjoying explosive global popularity, Ariana Grande, who is reigning as an unrivaled female artist, and Dan & Shay, a Grammy winner. Expectations are raised about what kind of new winds will blow in the global music market. /[email protected]
[사진] SNS, Hive
Reporter Ji Min-kyung