Scott Borchetta Leaves HYBE America

Scott Borchetta is exiting HYBE America, the US arm of the South Korean entertainment giant.

Backstory:

• In 2019, Scooter Braun’s Ithaca Holdings acquired Big Machine Label Group (BMLG), which Borchetta founded in Nashville in 2009, five years after creating Big Machine Records in 2004.

• Ithaca was acquired by South Korea’s HYBE in 2021 in a $1.05 billion deal that included BMLG and Braun's SB Projects.

• Borchetta has served as the CEO of BMLG since.

Next steps:

• Borchetta will use the Big Machine Records brand for future ventures.

• HYBE America will retain assets, the distribution deal, the publishing company Big Machine Music, and a number of artists currently on the label’s roster such as Thomas Rhett, Brett Young and Midland, as per Music Business Worldwide.

• The HYBE-run company will operate under a new label name, with an announcement on leadership due in the next few days.

What they said:

• Isaac Lee, Chairman and CEO of HYBE America: “Scott has made a lasting mark on the music industry with his sharp eye for talent and his unique vision. He recently approached us to ask for our support as he works to pursue a new, independent and entrepreneurial stage of his career, working to advance the Big Machine brand separately from HYBE. While we are sad to see Scott go, we understand – and want him to pursue his passions, and are grateful for all he did for the company. HYBE AMERICA will continue to support our artists’ interests across music, film, television, brands and culture in the US market and beyond. We are beyond excited for our future in Nashville and will make further announcements in due course.”

• Scott Borchetta: “I am incredibly appreciative of my partnership with HYBE over these last five years. Chairman Bang often talks of his fondness for entrepreneurs and he, Isaac, and the HYBE leadership team have extended that belief with this incredible showing of support by allowing me to continue to build upon my vision of the Big Machine Records brand. For that, I am forever grateful and wish them nothing but continued and incredible global success.”