admin K-pop has been identified as a formidable and revolutionary sensation in the current times. 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. This sets the stage for further growth in the upcoming months.
Deals Expanding the South-Asian Influence
Recently, 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% 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. As of April 15th – six months since Big Hit went public in October 2020 – Hybe houses multiple music, entertainment and technology companies, with a multitude of artists and subsidiaries under its auspices, plus deals with numerous other major companies and brands, including K-pop company YG Entertainment, home to Blackpink.
Other Collaborative Forces
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.
RBW Entertainment, home to the likes of K-pop acts including popular girl group Mamamoo and boy band Oneus, announced it had acquired 70 per cent of WM Entertainment, which has stalwart acts ‘Oh My Girl’, ‘B1A4’ and ‘ONF’. By combining their rosters through the deal, the two mid-tier companies amped up their share in the K-pop scene. RBW’s CEO Kim Jin-woo emphasized how the two companies joining together can result in them leading “K-content” cultural growth across the world, while emphasizing the intent for further international expansion. Larger K-pop companies with sizeable talent rosters and well-structured businesses have been less hurt by the Covid-19 pandemic than many others, with the industry transitioning to wholly digital events to replace touring. Smaller brands, meanwhile, struggle to stay afloat and as the pandemic continues, more acquisitions and corporate changes are expected.
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