Scooter Braun, who is renowned for managing some of the world’s most prominent artists, has announced his plan to retire from artist management. The development doesn’t come as a surprise, as many of Braun’s clients including Justin Bieber, Ariana Grande, Demi Lovato, David Guetta, Black Eyed Peas and Carly Rae Jepsen have all changed managers in the past year. Braun intends to become the CEO of Ithaca Holdings, his investment firm. The company merged with Hybe America, a segment of a South Korean entertainment firm. The CEO position was offered to him as part of the deal.
Braun had been working as a music manager for more than two decades before announcing his retirement through an official social media post. “One of my biggest clients and friends told me that they wanted to spread their wings and go in a new direction. We had been through so much together over the last decade, but instead of being hurt I saw it as a sign,” Braun said in his statement.
Jennifer McDaniels and Allison Kaye, two women who worked with Braun, will reportedly take charge as Braun’s role at the helm of the company changes. “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,” Braun said of his colleagues.
“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. 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,” Braun added. Braun’s new job will entail growing HYBE, a multi-billion dollar publicly traded company that comprises various multifaceted entertainment platforms.
Braun became famous after launching Justin Beiber’s career back in 2008. He had represented Bieber for 15 long years. However, in recent years, he has attracted criticism for denying Taylor Swift her master recordings and a host of other allegations. Taylor Swift and Braun have been in a feud since 2019 when he purchased the record label Big Machine that used to represent her. Big Machine was bought for $300 million by his investment group Ithaca Holdings. Swift confirmed in a statement that the sale had deprived her of “my life’s work”. The ownership of her back catalogue has changed hands again for the second time. It is believed that Braun, who bought the master recordings, sold them off to a private equity firm
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