HYBE America, the Scooter Braun-led U.S. division of South-Korean record label HYBE, has acquired Quality Control Music for $300M.
HYBE manages artists such as Justin Bieber, Ariana Grande, and the K-Pop group BTS.
- Quality Contol is an Atlanta-based record founded in 2005 by Kevin Lee and Pierre Thomas.
- The
label has signed artists such as Migos, Lil Baby, and Lil Yachty.
Cumulatively, artists from this label have been streamed more than 1
billion times, have earned more than 1 billion views on YouTube, and
have sold millions of records.
- HYBE America is a recently
formed division of HYBE, the South Korean entertainment company and
record label previously known as Big Hit.
- The division's CEO is
Scooter Braun, former founder and CEO of SB Projects. Braun is known
for managing artists such as Justin Bieber, Ariana Grande, J Balvin,
Demi Lovato, etc. As part of the agreement with HYBE, Braun sold SB
projects to the company for an undisclosed amount.
- HYBE
reported a net income of over $800M in 2021, as the company has recently
made significant investments in the music business by acquiring stakes
in multiple record labels.
- Its latest investment is a 15% stake in SM Entertainment, a South Korean record label.
