Input 2021.04.05 09:05
Earlier, Big Hit acquired Ithaca Holdings through its subsidiary Big Hit America on the 2nd. Big Hit America announced that the parent company will acquire the total amount of 950 million newly incurred stocks after deciding on a capital increase of about KRW 1 trillion.
The researcher said, “Ithaca Holdings owns labels with Justin Bieber and Ariana Grande as major artists. Based on the intellectual property rights (IP) of artists that produce and distribute content, It is owned as a major subsidiary,” he explained.
He added, “Big Hit is free from the risk of high dependence on BTS, and it is expected that the related sales of Weverse Shop will increase rapidly by actively entering the overseas MD market based on global artist IP.”