Music Business News: South Korea

From Scooter Braun’s billion-dollar deal to Apple’s backing of UnitedMasters: It’s MBW’s Weekly Round-up

The biggest music industry stories of the week, all in one place

Scooter Braun sells Ithaca Holdings to HYBE, formerly known as Big Hit Entertainment, for $1 billion

Ithaca owns SB Projects as well as Big Machine Label Group and more

Why we believe streaming subscription ARPU fell by around 8% globally for the record industry last year

MBW runs the numbers from the IFPI's must-read new Global Music Report covering 2020

Global recorded music revenues grew 7.4% to $21.6bn in 2020, in spite of the pandemic

Paid subscription streaming revenues increased by 18.5% last year

BTS label Big Hit Entertainment officially rebrands as HYBE

Big Hit’s record label will maintain its identity as a label called Big Hit Music, under HYBE

Big Hit Global CEO Lenzo Yoon on K-Pop, BTS, their fans and the future of the global entertainment industry

Big Hit Entertainment Global CEO Lenzo Yoon delivered a speech this week for SXSW Online

Spotify reinstates K-Pop tracks from Kakao Entertainment as companies reach global licensing deal

Content is also available in South Korea for the first time

BTS were the world’s biggest-selling recording artist last year. But for the first time ever, no British acts made the Top 10.

Universal Music Group acts claimed nine (and a bit) in the IFPI's Top 10 chart