Celebrities including BTS, Justin Bieber, J Balvin and Demi Lovato, as well as the top management of the two companies, expressed enthusiasm over the partnership in the video uploaded on Apr. 6 by HYBE’s official YouTube channel, HYBE Labels.
“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 hope this new adventure will give fans a fresh experience and be a source of new joy,” said BTS members in the video.
HYBE x Ithaca Holdings celebration video (Courtesy of HYBE Labels) Justin Bieber, an Ithaca Holdings artist, also shared his excitement in the clip.
“The prospects of working together with these amazing teams and stepping further into the global music scene is very exciting. I am thrilled at the potential this alliance holds,” said Bieber.
Other global artists presented in the video included HYBE’s Seventeen and Ithaca’s J Balvin and Demi Lovato.
ALIGNED VISION FOR NEW POSSIBILITIES
“Possibilities” and “innovation” were the keywords highlighted in the video by the chief executives of HYBE, Ithaca Holdings and Ithaca’s affiliate label Big Machine Label Group.
In the video, all three CEOs emphasized the possibilities that the historic partnership will bring to the global music and entertainment industry.
“I believe the possibilities for this partnership are truly limitless. This is an opportunity for both of us to make history, further innovate the music industry and revolutionize the game itself,” said Ithaca Holdings CEO Scooter Braun.
“This new endeavor eclipses borders, genres and cultures and presents worldwide possibilities for music industry innovation,” added Big Machine Label Group CEO Scott Borchetta.
“The perhaps inevitable joining of HYBE and Ithaca Holdings marks the start of a new adventure no one could have possibly imagined,” said HYBE Chairman and CEO Bang Si-hyuk in the video.
Experts say such hopes are not ungrounded considering the unrivaled popularity of the artists involved and Ithaca’s strong network in the US.
According to the International Federation of the Phonographic Industry (IFPI), BTS last year topped the IFPI Global Artist Chart, which annually ranks the world’s top 10 best-selling artists.
Ithaca’s Ariana Grande and Justin Bieber ranked eighth and tenth, respectively.
IFPI Global Artist Chart 2020 (Courtesy of IFPI) Justin Bieber boasts more than 62 million subscribers on YouTube, the highest figure among all global artists. BTS and Ariana Grande each have around 50 million subscribers.
HYBE expects that the merger will accelerate the raising of the Korean artists' profiles in the US market, while Ithaca will also seek new opportunities to further strengthen its presence in other regions around the globe.
“Please look forward to the endless possibilities of HYBE and Ithaca Holdings, and the new paradigm the partnership will establish in the music industry,” noted HYBE CEO Bang.
