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Spanish giant GVM, SGAE pact

Team to boost Latin music

MADRID — Spain’s biggest music company, Prisa subsid Gran Via Musical (GVM), has teamed with the country’s all-powerful authors rights collection entity, the Sociedad General de Autores de Espana (SGAE), inking a pioneering accord to power sales of Latino music worldwide.

The deal follows closely on the heels of GVM’s pact with the Universal Music Group, announced March 10, to create a Latin music record label, Muxxic Latina, based in New York and run by GVM.

Lofty ambitions

The new agreement underscores the ambitions of GVM, created last May, to establish itself rapidly as the biggest Spanish-language music group not only in Spain but the whole Spanish-speaking world, including the Latino U.S.

SGAE already has offices in New York, Buenos Aires, Mexico City and Havana.

The GVM-SGAE accord covers the joint organization of concerts by Latin artists around the world, GVM’s distribution of SGAE’s Latin classics label Autor in traditional and new media, joint record publishing, promo creation and promotion.

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