By Joonyoung Lee
Recently, Justin Bieber released a song called “Peaches” and it hit number one in the charts, but something more shocking happened. Big Hit Entertainment bought Ithaca Holdings, home to Justin Bieber, Ariana Grande, J Balvin, and Demi Lovato, making BTS and all of them one big family.
Scooter Braun, the head of Ithaca Holdings, sold his media company to BTS’s agency, Big Hit Entertainment, for $1 Billion. HYBE, which was Big Hit Entertainment, invested $950 million into the unit that paid $1 billion to bondholders and other investors to complete the deal.
This deal brought shock to all over the world in the KPOP community. Scooter Braun said, “for the first time HYBE’s groundbreaking systems and curation will be integrated in the U.S. market at the onset of an artist’s career.”
All the fans around the world are looking forward to the next project that HYBE is planning. Everyone is anticipating the huge impact HYBE will have on the music industry.