BTS’s KPOP Agency Bought 100% Of Scooter Braun’s Firm For $1

The world of music has undergone a big change! Bang Si-Hyuk’s Big Hit Entertainment, which gave the world BTS to K-pop idols, closed a $ 1.05 billion deal to acquire Ithaca Holdings, LLC of Scooter Braun. Ithaca is an umbrella company that owns the careers of artists such as Justin Bieber, Demi Lovato and Ariana Grande, just to name a few.

In June 2019, Ithaca / Braun notoriously paid $ 300 million for the rights to Taylor Swift’s first five albums against her will. In November 2020, he flipped the catalog into an investment fund called Shamrock Capital. Shamrock was founded in 2009 by Walt Disney’s late nephew Roy Disney. Therefore, Bang will not control Swift’s old master recordings as part of this recent deal.

Big Hit Entertainment, which was founded by Bang in 2005, will change its name to HYBE. The purchase of Ithaca is the first major deal in the US market for Bang and Big Hit Entertainment. As part of the deal, Braun will join the board of directors of HYBE.

Bang, a successful songwriter, began assembling a group of teenagers in 2010 for a boy band. He initially called him Bulletproof Boy Scouts, later renamed him Brinjal Boys and finally BTS. He wanted the band to break away from the painstakingly crafted and immaculate idols K-Pop usually churned out. He wanted BTS to be real youth, which approximates his real personality and talent.

It was a true break from the way it was usually done in the K-pop world. Traditionally, production companies trained their bands to be a blank slate, upon which fans project their imaginations.

Bang wanted BTS to be artists who relate to audience personality and conflict. Unlike other K-pop artists, BTS does not have a strict contract or curfew. They are allowed to discuss how stardom affects them and what pressure it puts on them. They may be members of the larger superstar boy band group.

The BTS song “Dynamite” topped the Billboard Hot 100 in 2020. In fact, BTS was the first Asian act to become number 1 on the American music charts since 1963, when Qiao Sakamoto occupied the number 1 spot for three consecutive weeks.

bts's kpop agency bought 100% of scooter braun's firm for $1

(Photo via Sengijan Cho / Polo / AFP Getty Image)

This is just the latest in a whole raft of deals in the music industry during the epidemic, which definitely keeps bands and artists away from touring. Many artists, including Bob Dylan, Neil Young and Stevie Nick, have sold bets in their music catalogs for hundreds of millions of dollars.

Scooter Braun got its first big break after discovering 12-year-old Justin Bieber on YouTube.

He founded Etah Holdings in 2010 for $ 120 million in venture funds, primarily raised from Uber and Spotify. In 2017 private equity firm Carlyle Group became a minority investor in Ithaca. In 2019 the Carlyle Group injected another large round of funds at an $ 800 million valuation. Bronn was still the majority owner after the investment.

It has not yet been told how much Bron will take home from the Big Hit deal. He can own a majority at 51%… or 99%. Either way this would represent an important stop for the Impresario, which we estimated to be $ 400 million when Ithaca was valued at $ 800 million.

Fun facts about Scooter – when she goes to dinner with her in-laws, he is actually the poorest man in the room. Scooter’s father-in-law, David Cohen, is the president and CEO of a Canadian mining company called Array Re (the first term is deliberate lowercase). He was previously the founder of the Gold Wheaton Group, which he sold in 2011 for $ 1 billion. Prior to this he was the co-founder of North Orion Re Inc. which sold in 2007 for $ 1.5 billion.

Scooter and his wife Yale have built a $ 13.5 million home in Brentwood across the