I poured 1 trillion won into hive... Ariana Grande, agency breakup rumors

The world's top singer, Ariana Grande. photo facebook profile

Foreign media reported that pop star Ariana Grande and others had parted ways with the CEO of Hive America. Hive acquired Ariana Grande's agency in 2021 and invested 1 trillion won.
Billboard reported on the 21st (local time) that "Ariana Grande has parted ways with Scooter Braun." Ariana Grande has been with Scooter Braun's company Ithaca Holdings-affiliated SB Project since 2013. Rumors of her breakup with SB Project star Justin Bieber also circulated, but according to Billboard, officials from both parties denied that it was "not true."

The news of the departure of artists from Ithaca Holdings continues to come. Earlier this year, Idina Menzel left the company, and reports surfaced last month that Demi Lovato was looking for a new company. There is no Hive position on the breach of contract with Ariana Grande. However, on the early morning of the 23rd, Scooter Braun posted a contradictory joke on Twitter, saying, “Breaking news… I’m no longer managing myself.”

1 trillion won investment

If Ariana Grande leaves as it is, Hive's 1 trillion won investment will be colorless. Even when Hive acquired Ithaca Holdings, it was said that it was bought at three times more expensive for accounting reasons. It seems that he will not be able to avoid pointing out that it is an acquisition that does not lead to meaningful collaboration and is not worth the money.

With the synergy effect that can be obtained through the acquisition of Ithaca Holdings, Hive has secured a foundation for future growth by securing a global artist lineup, achieved economies of scale by combining Ithaca Holdings and Hive's artist pool, and expanded business by sharing mutually owned IP. there is a bar However, the expected collaboration with Hive artists has yet to materialize. There was also speculation that they would join Weverse, Hive's fan platform, but it did not come true. Only Justin Bieber participated in the 2022 Weverse concert once via video.

photo HIVE

Focus only on expanding the appearance?

Chairman Bang Shi-hyeok of Hive has revealed that he is seeking various M&A plans to increase the scale, saying, "The first goal is to become a presence that cannot be ignored in the US music market." According to this policy, Scooter Braun took office as the sole CEO of Hive America in January, and as his first step, he acquired QC Media Holdings, which includes famous hip-hop artists such as Migos and Lil Baby, for 314 billion won.