Unbiased Latin music firm The Wave Music Group has signed a long-term distribution settlement with Capitol Music Group (CMG).
The cope with the Puerto Rico and Miami-based label was introduced on Tuesday (April 18) by The Wave Music Group house owners Angelo Torres and Caleb Calloway and CMG Chair & CEO Michelle Jubelirer.
CMG’s cope with The Wave Music Group follows final week’s information that Latin music formally generated greater than $1 billion in US recorded music income in 2022.
Complete retail revenues generated by Latin recorded music in america reached $1.09 billion in 2022, a rise of 23.8% YoY.
The primary music below the brand new settlement comes from Puerto Rican rapper and songwriter Younger Miko, whose first single below the brand new pact, Lisa, has already amassed greater than 50 million audio streams and 20 million video streams.
The observe has additionally been utilized in greater than three million TikTok UGC creations which have generated 475 million views.
Beneath phrases of the settlement, based on the announement, CMG will even present The Wave Music Group with “myriad companies in help of its releases”, supplementing the corporate’s in-house capabilities which have been constructed and developed since its founding in 2021.
The Wave Music Group was shaped by Torres and Calloway in 2021, after Torres had labored as a supervisor for high Latin expertise for a few years, representing Mexican-born singer, songwriter, and performer Mariangela and Puerto Rican rapper Alvaro Diaz, amongst others.
He was additionally an A&R Director for Magnus Media, the corporate based by music star Marc Anthony and veteran expertise agent Michel Vega.
Torres additionally labored because the A&R director on the Grammy award-winning album Dharma by Sebastian Yatra. Calloway has amassed greater than 22 billion streams throughout his many manufacturing credit, which incorporates work with artists resembling Unhealthy Bunny, Sebastián Yatra, Rauw Alejandro, Anuel, Arcángel, Sech, Álvaro Díaz, J Balvin, Zion & Lennox and The Martinez Bros, amongst others.
He has served as a producer on three Grammy award profitable albums together with El Último Tour del Mundo by megastar Unhealthy Bunny, awarded Album of the Yr and Finest City Music Album in 2021, and Dharma by Sebastian Yatra, awarded Finest Latin Pop Album in 2023.
Calloway is the producer of the brand new single Panties y Brasieres by Rauw Alejandro and Daddy Yankee.
“Their entrepreneurial spirit and stable basis, mixed with CMG’s experience and fervour, will make for an awesome partnership within the years forward.”
Michelle Jubelirer and Jeremy Vuernick, CMG
In accordance with Jubelirer and CMG President of A&R Jeremy Vuernick, Angelo Torres and Caleb Calloway, “have constructed The Wave right into a confirmed drive for growing and breaking artists within the Latin Music area.
They added: “Their entrepreneurial spirit and stable basis, mixed with CMG’s experience and fervour, will make for an awesome partnership within the years forward.”
“Caleb and I’ve all the time felt like creators of moments inside our trade which have marked a earlier than and after. Serving to artists attain success is our primary precedence.”
Torres stated: “Caleb and I’ve all the time felt like creators of moments inside our trade which have marked a earlier than and after. Serving to artists attain success is our primary precedence.”
Music Enterprise Worldwide