BTS, Seventeen welcome Justin Bieber, Ariana Grande, Demi Lovato to HYBE family

Published April 6, 2021, 10:08 AM

by Jonathan Hicap

(Clockwise from top left) BTS, Seventeen, Justin Bieber, Demi Lovato, J Balvin, Scooter Braun and Bang Si-hyuk (Screenshot from HYBE Labels video)

Following the 100 percent acquisition by HYBE, the former Big Hit Entertainment, of Scooter Braun’s Ithaca Holdings in a $1.05 billion deal, K-pop artists BTS and Seventeen have welcomed Justin Bieber, Ariana Grande, Demi Lovato and J Balvin into the family.

Hybe acquired Ithaca Holdings through its subsidiary, Big Hit America. Under Ithaca Holdings are Braun’s SB Projects, Big Machine Label Group, Mythos Studios and 100 Thieves Gaming. Other artists under Braun include K-pop star CL, Psy, Carly Rae Jepsen, Black Eyed Peas, Dan + Shay and Idina Menzel.

“HYBE is welcoming Ithaca Holdings as a new family member. Globally renowned artists including Justin Bieber, Ariana Grande, J Balvin and Demi Lovato are being managed by SB Projects under Ithaca Holdings,” said HYBE chairman and CEO Bang Si-hyuk in a video uploaded on YouTube regarding the partnership.

K-pop artists under HYBE are BTS, TXT, Seventeen, NU’EST, ENHYPEN, GFriend and Zico. BTS and Seventeen praised the partnership between HYBE and Ithaca and welcomed the artists into the family.

“Such great news that leaves us all in awe! Justin Bieber, Ariana Grande, J Balvin! The team behind these and so many incredible artists have come together with HYBE. We’re so happy to see so many artists that we cherish and love become part of this family. It feels like the world is getting more connected and even smaller,” said BTS’ RM.

Suga added, “We’re seeing things we could never imagine turn into reality, like this incredible news. And it makes us think there are no boundaries or limits to the work that we’re doing. We can’t wait to see the endless possibilities that await us.”

“I hope we can grow and share positive influence with all the artists that have become part of our new family. And most of all, we hope this new adventure will give fans a fresh experience and be a source of new joy. We once again welcome the artists of Ithaca Holdings. Thank you,” said J-Hope.

Seventeen’s S.Coups, Vernon and Seungkwan also spoke about the deal.

“I couldn’t believe it when I first heard this news. It’s amazing that a global company with some of the top artists around the world is becoming a family with HYBE. It’s an honor to participate in such a historic moment and I look forward to the future we will build together,” said S.Coups.

Seungkwan said, “I believe joining forces of these two companies shows that we can become one with music beyond language, country and culture. I hope this could become an opportunity to join hands with global top artists and get closer to fans worldwide.”

“I am excited to find out what kind of dynamic and creative projects we can work on together. Congratulations once again and welcome Ithaca Holdings,” said Vernon.

Bieber congratulated Bang Si-hyuk and Braun “on this historic partnership. The prospects of working together with this amazing team and stepping further into the global music scene is very exciting. Congrats to everyone again. Thanks guys. I’m thrilled at the potential this alliance holds. Kudos to the teams. We’re getting support from every angle and there’s so much we can do with the team. I wanna congratulate everyone on this deal.”

J Balvin said, “Good vibes! Congratulations to Scooter Braun and Chairman Bang. Graces, this is going to be on another level. Such amazing vibes.”

“Congratulations Chairman Bang and Scooter for bringing Ithaca in HYBE family worldwide,” said Lovato.

As part of the deal, Braun will join the board of HYBE and Scott Borchetta will remain CEO of Big Machine Label Group.

In addition, HYBE will issue 863,209 new shares worth 181.8 billion won (about $161.8 million) to Braun, Borchetta, Bieber, Grande, Lovato, J Balvin and other artists and executives.

According to HYBE’s corporate filing in Korea on April 2, the following will get new shares:

Scott “Scooter” Braun – 462,380 shares (worth about $86 million)

Scott Borchetta – 166,537 ($31.19 million)

Ariana Grande Butera – 53,557 ($10 million)

Justin Drew Bieber – 53,557 ($10 million)

Jose Alvaro Osorio Balvin – 21,423 ($4 million)

Fabio David Acosta Martinez – 803 ($150,387)

Raymond Rock – 803 ($150,387)

Asher Roth – 535 ($100,195)

Carly Rae Jepsen- 535 ($100,195)

Taylor James- 535 ($100,195)

Joshua Gudwin – 535 ($100,195)

Kenneth Charles Hamilton Jr. -535 ($100,195)

Thomas Lee Brown – 535 ($100,195)

Jason Boyd – 535 ($100,195)

Demetria Devonne Lovato – 5,355 ($1 million)

David Andrew Burd – 4,284 ($802,184)

Michael Hertz 1,071 ($200,546)

Victoria Kelly – 2,677 ($501,269)

Quavious Keyate Marshall – 1,338 ($250,541)

Andrew Wotman – 5,355 ($1 million)

Daniel Smyers – 2,677 ($501,269)

Shay Mooney – 2,677 ($501,269)

Thomas Rhett Akins Jr. – 5,355 ($1 million)

Tyler Reed Hubbard – 5,355 ($1 million)

Jaclyn Augustus – 535 ($100,195)

Tony Bracy – 535 ($100,195)

Shauna Nep – 535 ($100,195)

Jules Feree – 2,677 ($501,269)

James Shin – 803 ($150,387)

Daniel Gross – 535 ($100,195)

Ryan David Aldred – 803 ($150,387)

Nicole Krolicki – 267 ($50,000)

Zachary Cohen – 267 ($50,000)

Allison Kaye Scarinzi – 26,778 ($5 million)

Jason Scott Manson – 10,711 ($2 million)

Jennifer McDaniels – 10,711 ($2 million)

Andrew Kautz – 2,677 ($501,378)

David Bolno – 5,355 ($1 million)

Eric Holden – 1,071 ($200,546)

 
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