Haim Saban Commits $500 Million to New Music Venture

Saban Capital Group and Haim Saban, the corporate’s chairman, are committing an funding of $500 million into the music trade to type a brand new enterprise known as Saban Music Group, Saban introduced Wednesday.

Saban is partnering with music government Gustavo Lopez, previously an government of Universal Music Latin Entertainment, to steer the brand new firm. As a part of Lopez coming aboard, Saban Music Group additionally acquired Talento Uno’s report label, administration and publishing property, which Lopez based in 2017.

So far Saban Music Group (SMG) has already signed a number of artists as a part of its preliminary roster, together with Israeli duo Static and Ben El, the administration of Colombian Reggaeton star Reykon, and French act Marie Monti, the label’s first feminine worldwide act.

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Saban Music Group will additional give attention to worldwide A&R, artist improvement and help for artists, and the corporate will dedicate assets in the direction of the acquisition of recording, publishing and administration entities as a part of the corporate’s progress technique.

“Music has always been one of my life’s greatest passions — shaping, influencing and motivating me on a daily basis,” Saban mentioned in an announcement. “It is with great excitement that I re-enter the music business — not only as a businessman but as someone who is passionate about the art, dedicated to the development of worldwide artists and wants to provide world-class entertainment. I look forward to building this company with Gus and working with artists around the world to fully seize their international appeal.”

“Saban Music Group is a Los Angeles-based record label with a worldwide view of the music industry, looking to capture the globalization of music and work with artists who have an international appeal,” Lopez mentioned in an announcement. “This will be made possible with the help of Haim Saban, who truly understands the work and resources that go into fully developing artists and creating great music. I thank him for his support and partnership. The new Saban Music Group will have various pillars amongst them: artists signed as partners to 360 models, an acquisitions arm and its own publishing entity.”

Prior to founding Talento Uno, Lopez served as GM/EVP of Universal Music Latin Entertainment, the place he labored for 21 years. While at Universal, Lopez based the Latin-urban label Machete Music and ran a number of labels together with Fonovisa/Disa.