K-pop deals involving BTS label Hybe and Mamamoo label RBW Entertainment sees industry continue to expand globally while consolidating at home
- Hybe will become one of the biggest players in global entertainment after merging with the American manager of clients including Justin Bieber and Ariana Grande
- RBW Entertainment, which manages K-pop acts Mamamoo and Oneus, acquired 70 per cent of WM Entertainment, home of Oh My Girl, B1A4 and ONF
A series of high-profile deals in the entertainment world are furthering the K-pop industry’s reach as companies continue to expand globally as music powerhouses.
On April 2, Hybe, formerly Big Hit Entertainment, announced that it would be merging with Scooter Braun’s Ithaca Holdings for a reported US$1 billion. Hybe, best known as the home of BTS, acquired a 100 per cent stake in the American company and its properties, which includes entertainment and media firm SB Projects and clients including Justin Bieber and Ariana Grande.
With the Braun deal, Hybe has now become one of the biggest power players in the global entertainment world. The acquisition is the latest move by the powerful South Korean company to consolidate power within the industry while looking to grow internationally.
The Ithaca acquisition is the latest in many by Hybe over the past few years as the entertainment powerhouse has expanded, growing its role as a leading player in the entertainment world even though for a period in 2018-19 the company only housed BTS and one solo artist, Lee Hyun.
Along with Hybe’s big move, the last few weeks have seen major deals and corporate restructuring, much of which is reflective of K-pop companies seeking to grow globally largely through mergers and acquisitions, while narrowing competition in the scene by investing in competitors.
