Hybe announced on the 2nd that it will take over Ithaca Holdings, an American comprehensive media company that manages Beaver, Ariana Grande, and Jay Balbin, and accordingly, American pop stars such as Beaver and Grande become a member of BTS.
Justin Bieber’s comments
Pop star Justin Bieber, who joined Hybe, the agency of the group BTS (BTS), said, “I am very excited to collaborate with a great team and expand into the global music market.”
Bieber said in a congratulatory message video for executives and artists released on Hive’s official YouTube channel on the 5th, “I look forward to the possibility of this alliance. We will receive support from all sides, and we will be able to do many things with one team,” he said. “Let’s make history together.”
Bulletproof Boy Scouts said, “I am so happy that the artists I really like and listen to are together as a family.” He added, “I hope we can grow together by exchanging good influences with fellow artists who have become new members of the family.” Jay Balbin, Demi Lovato, and Seventeen also showed congratulations and anticipation.
The future of Big Hit America
Hybe Bang Si-hyuk, chairman of the board of directors, stressed, “Hybe and Ithaca Holdings have a big dream in common, starting empty-handed and growing into a global company. Producer Scooter Brown, founder of Ithaca Holdings, gave meaning to both Hybe and us as an opportunity to make history, innovate the music industry, and flip the plate itself.
Ithaka Holdings has subsidiaries such as “SB Project”, a management company, “Big Machine Label Group,” a country music label, and “Silent Content Ventures,” which produces and distributes TV and OTT contents. When the acquisition process is complete, Hybe subsidiary Big Hit America will own 100% of Ithaca Holdings.
The combination of the two companies is expected to increase the influence of the music industry. This is because it has three teams (#1 BTS, #8 Ariana Grande, #10 Justin Bieber) among the top 10 artists in global record sales announced by the International Music Industry Association (IFPI) last year.
In addition, Bieber, the largest number of artists in the world with 62 million subscribers to the YouTube channel, and the BTS and Grande, each with approximately 50 million YouTube subscribers, are expected to increase their ripple power in social media.