Earlier this month, HYBE, known in the past as Big Hit, announced the purchase of 100% of the capital of Ithaca Holdings, a Scooter Braun’s company that manages artists such as Ariana Grande and Justin Bieber. This is a K-Pop giant, but known for the BTS phenomenon. In other words, artists like Justin Bieber, J Balvin, Ariana Grande, and Demi Lovato are now from HYBE; as is the Big Machine record label.
This purchase will end up generating a lot of money even for artists who were already from Ithaca Holdings, like Ariana Grande. According to Forbes, about $ 12 million in shares. She is the artist who benefited the most from her work within the company’s catalog and, therefore, she is the one who made more money.
HYBE is diversifying it’s income beyond BTS and the arrival of these successful western artists counts for a lot.
Because of this, the company has many reasons to make Ariana Grande very happy with the money; as it has the potential to generate a lot. On the other hand, according to Forbes, Justin Bieber found the same amount as Ariana Grande, $ 12 million.
Already J Balvin earns 4.8 million dollars and Demi Lovato is $ 1.
2 million. Considering that Demi Lovato is new there, it makes sense for her to be a little less.
HYBE President and CEO Bang Si-Hyuk said: “The inevitable merger of HYBE and Ithaca Holdings marks the beginning of a new adventure that no one could have imagined“.
He continued: “The two companies will work together leveraging our proven track record of success; knowledge and experience to create synergy, transcend borders and break down cultural barriers. We look forward to the infinite possibilities of HYBE and Ithaca Holdings.
The new paradigm that the association will establish in the music industry“.
Therefore, taking that statement in count, a collaboration between BTS and Ariana Grande, Demi Lovato; J Balvin or Justin Bieber is inevitable, only the time will talk and we will be here for it.