The manager to the stars has made headlines for losing clients in recent weeks.
Scooter Braun's client list is undergoing a major update. The manager to the stars has been in the news in recent weeks amid reports that he's no longer working with much of his A-list clientele.
He reacted to all the speculation in a tweet, quipping, "Breaking news… I'm no longer managing myself."
"This was a mutual and amicable decision to part ways and the two remain close," a source told ET of Lovato, who joined Braun's SB Projects in 2019.
"Justin is not taking meetings to look for new management," the source said. "The two recently worked on something together."
As for what prompted all the changes in Braun's roster, a source with knowledge of the situation regarding Braun and his clients told ET that it has to do with his new role as HYBE America CEO.
Per Variety, Braun's Ithaca Holdings, which includes his SB Projects, merged with HYBE, the home of BTS, in 2021. At the time, Braun joined the company's board and became the co-CEO of the South Korean company's American outpost, working alongside Lenzo Yoon. Braun became the sole CEO back in January.
"All of Scooter Braun’s clients are under contract and negotiations have been going on for several months as Scooter steps into his larger role as HYBE America CEO," the source said. "People are spreading rumors based on what they know, but they are off. Scooter's team at SB Projects are still handling both Justin and Ariana as they work through what this new structure looks like."
Indeed, sources told Variety that Bieber and Grande are not leaving the company, but rather Braun is continuing to step back from day-to-day management.
ET spoke with Jem Aswad, Executive Music Editor at Variety, who elaborated on the recent reports and weighed in on how Braun's focus may have shifted since becoming CEO.
"That is a big job. HYBE is an $11 billion company. And, earlier this year, he orchestrated its acquisition of Quality Control, which is a major hip hop label in Atlanta," Aswad said. "So it is very possible that he'd be pulling back from the very demanding job of managing artists... to focus on his role as CEO."
As for what, exactly, stepping back from his role as a manager actually means, on a day-to-day basis, Aswad said the possibilities are various.
"It could mean he'll step in when something big happens and he's needed, it could mean he's, you know, not involved at all," he said. "It could mean a lot of different things."
Whatever it means, it's led to a lot of artists looking for other representation, which has led to speculation and subsequently drama. However, Aswad suggested a reason as to why things have been somewhat muddled when it comes to reports and rumors about the reason for the high-profile exodus.
"There are all kinds of different agendas at work here, there are all kinds of people with different interests, with opposing interests, trying to get at things," Aswad said.