In July 2019, we reported on the latest new label with grand ambitions for the music industry. In the case of Saban Music Group, those ambitions were backed by $500m of capital, thanks to founder Haim Saban, whose TV firm Saban Entertainment (and the Mighty Morphin Power Rangers) made him a billionaire.
The new label would focus on Latin artists initially, with CEO Gustavo Lopez promising that the goal would be “finding artists that have strong regional appeal and make them into international stars”. Now Saban Music Group has a powerful ally in that mission: it has signed a global distribution and marketing deal with Universal Music Group. Specifically, Saban’s roster will be distributed in the US by UMG subsidiary Caroline, and globally will work with Caroline International and UMG’s central services team.
Lopez is no stranger to Universal Music: he worked there for 20 years before his current role at Saban. The first release under the partnership will be Static & Ben El feat. Pitbull’s ‘Further Up’, which is out today. A line in the press release also makes it clear that the $500m budget is still available, and that it will cover “the future acquisition of recording, publishing and management entities”.