Lower than a month after Scooter Braun grew to become the only CEO of HYBE America, the corporate introduced yesterday (January 8) that it had agreed to accumulate Atlanta rap powerhouse QC Media Holdings or High quality managementwhich is house to bands similar to Lil Child, Migos, Lil Yachty and Metropolis Ladies.
High quality Management, a music, sports activities, movie and tv empire, was based by Normal Supervisor Pierre Pierre “P” Thomas and Normal Supervisor Kevin “Coach Ok” Lee.
The sale of High quality Management to HYBE America was led by Braun, an American file govt and expertise supervisor who joined HYBE, previously Huge Hit Leisure, when he offered Ithaca Holdings to the South Korean-born firm for $1.05 billion in 2021.
Ithaca, who acquired Huge Machine Label Groupis partly identified for sale the recorded music rights to Taylor Swift’s first six albums to Shamrock Capital, in 2020 for about $300 million.
lower than a month in the past, Selection reported that Braun grew to become the only CEO of HYBE America after sharing the title with Huge Hit veteran Lenzo Yoon.
Braun led the acquisition of High quality Management, mum or dad firm HYBE Corp. introduced Thursday, February 9. This was Braun’s first initiative as CEO of the HYBE unit.
The corporate didn’t disclose the dimensions of the acquisition, however Selection indicated that the deal is valued at $320 million in shares and money.
“QC is likely one of the most essential unbiased labels on the planet, working with unimaginable artists who’re and stay the voices of tradition.”
Scooter Braun, HYBE America
“I am so proud and honored that Coach and P are becoming a member of Bang and myself as companions. QC is likely one of the most essential unbiased labels on the planet, working with unimaginable artists who’re and stay the voices of tradition says Braun.
Braun says his relationship with Coach Ok and P dates again 20 years to Atlanta.
“I am going to always remember strolling round Atlanta over 20 years in the past with Coach discussing our desires and our ambitions and the way we mentioned, ‘In the event that they allow us to into the sport, we are going to by no means give it again’.”
“Now, all these years later, we’re becoming a member of forces to make these desires a actuality. It is essential to my staff and I that P and Coach proceed to have the liberty, and now our international assets, to proceed to do what they do finest; facilitating and nurturing nice artwork and tradition,” added Braun.
The acquisition will give High quality Management entry to HYBE’s international leisure innovation capabilities, HYBE mentioned.
“HYBE is a perfect high quality management accomplice as we come collectively to inform our story and work globally. All of HYBE’s leaders are entrepreneurs with an exceptional mixed historical past of discovering expertise and bringing it to the best stage. »
Pierre Thomas, High quality Management
“HYBE is a perfect high quality management accomplice as we come collectively to inform our story and work globally. All of HYBE’s leaders are entrepreneurs with an exceptional mixed historical past of discovering expertise and bringing it to the highest,” mentioned P Thomas, co-founder and CEO of High quality Management.
“Bringing CQ to the world requires key companions like this who know how one can construct from the underside and goal excessive. It is rather essential to us to grasp their tradition and to see with acumen what QC has constructed and the limitless path in the direction of which it could actually go.
Thomas added that the 2 corporations have an current relationship with the Common Music Group household of households, permitting a harmonious relationship between the 2.
“We now have a lot gratitude to the whole QC household of artists and with out them this would not be doable. This partnership will create a world platform for our artists, which has been our objective since day one for them,” added Thomas.
For HYBE, the merger will permit it to additional broaden and diversify its international leisure footprint following the take care of Ithaca which the corporate says provides that the High quality Management merger marks one other essential step in broadening its genres. musical.
“Based mostly on hip-hop, QC has established itself on the American music scene. With our shared imaginative and prescient, I’ve excessive hopes for what we will function and obtain collectively.
Jiwon Park, HYBE CORP.
“Based mostly on hip-hop, QC has established itself on the American music scene. With our shared imaginative and prescient, I’ve excessive hopes for what we will function and obtain collectively,” says Jiwon Park, CEO of HYBE South Korea.
“This partnership is a crucial a part of our progress plan to innovate the leisure business by means of a various portfolio and cutting-edge expertise. We are going to work collectively to proceed including depth to hip-hop within the international music business,” added Bang Si-Hyuk, President of HYBE.
HYBE America manages shoppers similar to Justin Bieber, Ariana Grande and Demi Lovato. January 24, hipgnosis confirmed that it acquired Bieber’s 100% curiosity in its publishing copyrights, grasp recordings and neighboring rights for its complete again catalog overlaying 290 titles by December 31, 2021.
“Scooter Braun has helped him construct an exquisite catalog, and it is a pleasure to welcome Justin and his wonderful songs and recordings to the Hipgnosis household,” mentioned Merck MercuriadisFounder and CEO of Hipgnosis Tune Administration.
In the meantime, the merger with High quality Management marks HYBE’s newest acquisition after the leisure firm took a stake within the recreation developer Flintthe creator of the favored recreation Dragon Blaze, in November 2022, in addition to a faux voice AI firm known as Superton in October 2022.
Park in November reassured shareholders that the corporate has different sources of revenue after its greatest earner, BTS, took break day to embark on obligatory army service in South Korea.
Plans embody enlargement into a minimum of 4 new markets in 2023, together with Japan and the USA. HYBE beforehand mentioned it plans to concentrate on selling artists the identical manner Ok-pop artists are created.
The music business world wide