Virgin Music Group co-CEOs JT Myers and Nat Pastor. Photograph Credit score: Common Music Group
As Latin music’s industrial efficiency continues to enhance each domestically and overseas, Common Music’s Virgin Music Group (VMG) has acquired five-year-old Saban Music Latin.
The newest in a sequence of high-profile 2024 performs for Common Music Group (UMG), the Saban Music Latin buyout emerged in the present day in a proper launch from Virgin Music Group (which itself launched in September of 2022).
Beforehand, January of 2020 had seen UMG and the overarching Saban Music Group – additionally based in 2019 by Saban Capital Group head (and UMG director) Haim Saban – ink a “worldwide advertising and distribution alliance.”
Within the corresponding announcement message, the businesses emphasised that Haim Saban had put up a “$500 million dedication” to bankroll Saban Music Group’s operations and enlargement initiatives. The web site for Saban Music Latin, sabanmusic.com, didn’t seem like dwell on the time of this writing.
In any occasion, UMG has constructed upon the 2020 pact to scoop up everything of Saban Music Latin, with VMG assuming possession of the operation’s catalog. Included within the latter are works from Jesus Mendoza, German Montero, Michael Stuart, and Fuerza De Tijuana, to call some.
Moreover, VMG is poised to “launch future albums by chosen” artists signed to the just-bought label. Whereas the concerned companies didn’t instantly determine every of the acts who will make the minimize, they did emphasize that Saban Music Latin’s “roster of main artists” contains Pitbull collaborator Chesca, Bogotá-born Loyal Lobos, and YoGambii.
Virgin, which partnered with Place Music in September, took the chance to tout its buildout efforts within the Latin area – moreover driving house a dedication “to additional increasing the attain and success of Latin Music globally.”
Because it stands, the UMG subsidiary is alleged to function divisions in “eight Latin markets,” referring to Mexico, Chile, Argentina, Brazil, Spain, Portugal, the U.S., and “the Andean area.”
Greater image, different business corporations are, after all, seeking to money in on Latin’s initially talked about (streaming-dominant) development as nicely.
Associated highlights from 2023 embrace Hybe’s Exile Music buy and Reside Nation’s deal for a majority curiosity in Colombia’s Páramo Presenta. Plus, December noticed MediaNet Companions tee up a $20 million funding in Latin music catalogs, and Reservoir in October acquired the IP of veteran Latin songwriter and producer Rudy Perez.
Lastly, concerning the aforesaid strikes Common Music’s made as of late, the Huge Three label solely lately expanded its tie-up with Tencent Music – earlier than in the present day saying the acquisition of Oriental Star Businesses’ catalog.