Superstars like Ariana Grande are getting a big payday from music manager Scooter Braun. Braun’s company Ithaca Holdings has combined with HYBE, the label for BTS, in a mega merger which is part of a larger $1 billion deal. As a result, the rich are getting richer. Braun’s clients Justin Bieber,J Balvin,Demi Lovato and the aforementioned Grande are slated to become vital shareholders in the capital. According to Variety, a total of 863,209 new shares were issued, valued at $186 a share, bringing the total to $160.5 million.
The artists in Scooter’s roster received their cut of the deal in ranks. Bieber and Grande were given 53,557 apiece, which is about $10 million each. Balvin got 21,423 shares, while Lovato was only allocated 5,355. Other stars on the label include: Carly Rae Jepsen, Asher Roth and Migos rapper Quavo, who received smaller allocations. The motive behind the HYBE and Ithaca merge is to dominate the industry on a global basis. The deal includes a variety of services, like: management, label services and publishing.
It’s an all-around exciting time for Braun and his roster. In addition to the new deal, his clients are reveling in the release of their latest projects. For one thing, it’s truly been a Lovato-ssance. From the debut of her raw documentary to the complementary album Dancing With The Devil...The Art of Starting Over, the entertainer is back in the spotlight. Demi even collaborated with her longtime friend and fellow SB client, Ariana Grande for a track.
Executive produced by herself alongside Braun, Dancing with the Devil…The Art of Starting Over mark’s Lovato’s first album since “Tell Me You Love Me” in 2017. Demi has asked fans to listen to the entire project from in song order, stressing how important this story is to her.