It has been reported that Scooter Braun has announced that he has retired from managing his superstar clients and will take on a new role as a CEO.
The news of Braun â who was known as the manager for massive artists such as Justin Bieber, Ariana Grande, Demi Lovato and more â was not unexpected as over the past year, the liked of Bieber, Grande, Lovato, David Guetta, Black Eyed Peas, and Carly Rae Jepsen had all parted ways with him.Â
Braun shared a statement on his official social media accounts sharing that after over 20 years, “this chapter as a music manager has come to an end.” He revealed that this was something that had been at least two years in the making and shared that a chat with one of his clients last year solidified his decision.
“One of my biggest clients and friends told me that they wanted to spread their wings and go in a new direction,” he said. “We had been through so much together over the last decade, but instead of being hurt I saw it as a sign.”
Back in 2021, Ithaca Holdings â the now former manager’s investment firm â merged with Hybe America, a branch of a South Korean entertainment company. As part of the sale, Braun was offered the CEO position to helm the US operations.
“I may have left my role in management, and my business relationship with many clients will alter and change, but this does not mean we as a company are leaving,” he wrote. “Both Allison Kaye and Jennifer McDaniels are more than capable to lead and as we combine new resources the opportunities with their leadership are endless.
“These two incredibly powerful women will now step into a role that I know will grow into the most impressive women-led management business our industry has even seen. While my name may have been on the door all these years, the truth is there is no one as brilliant as Allison Kaye, and few who can manage with the grace and poise of Jen McDaniels.”
He continued: “We at Hybe will continue to grow. With the addition of QC to Hybe America and our existing business at Big Machine, we will continue to add amazing execs and artists to the roster.
“Our WeVerse platform and growing gaming unit is something the whole industry can celebrate and join. Getting the opportunity to A&R and Executive Produce the solo career of Jung Kook last summer, and work with the other members of BTS as we break worldwide records, has been an absolute honor. With new acts like NewJeans, TXT, LE SSERAFIM, Seventeen, ILLIT, The Scarlet Opera, Ava Max, and many other new artists and ventures, the future is bright. I’m honored to join Chairman Bang and Jiwon Park as we grow HYBE from the multi-billion dollar publicly traded company it is today to the worldwide multifaceted entertainment platform it is destined to be.”
Braun added: “With Hybe going strong I am also looking forward to continuing to invest in a new generation of entrepreneurs and serve as a national board member of Make A Wish and help individuals and communities through our family’s Braun Foundation. Between all of this and coaching my kids I’m not worried about being busy.”
Braun first rose to fame in 2008 after helping launch the career of a then-12-year-old Bieber, after seeing him performing on YouTube, and has since gone on to represent him for 15 years. In recent years, however, Braun has faced controversy after apparently denying Taylor Swift her mastersâ recordings.
Last year, in response to reports of a host of his artists seeking new management, Braun shared a short and jokey response on X/Twitter and wrote: âBreaking news⊠Iâm no longer managing myself.â
That same year, it was reported that the mogul had regrets about how he handled the sale of Taylor Swiftâs master recordings.
The feud between the two began in 2019 when he bought her former record label Big Machine for $300 million (£227million) through his investment group Ithaca Holdings.
The story then hit headlines again in late 2020 after Swift confirmed that the ownership of her back catalogue has changed hands again for the second time within two years. She also shared a statement in which she said that the master recordings âwere not for sale to meâ and confirmed that she believed the deal âstripped me of my lifeâs workâ.
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