The Universal Music Group and Spanish media giant Grupo Prisa have teamed to create a Latin music label, Muxxic Latina.
Based in New York City, the 50/50 joint venture will target the fastest-growing ethnic market in the United States and abroad.
While Grupo Prisa entered the music business last year when it established the recording and publishing firm Gran Via Musical, this venture intends to be more aggressive.
UMG Latin America chairman Manolo Diaz told Daily Variety, “Grupo Prisa and Colombia’s Caracol Radio are the co-owners of Grupo Latino Radio, which has radio stations in Spanish-speaking territories all over Europe and America. These stations receive hundreds of demo tapes. We’re going to use this new label as an A&R source to sift though those tapes and discover new artists.”
Muxxic Latina will sign and license Latin music artists globally. Outside of Spain, all of the joint venture’s artists will be licensed to UMG, which will handle sales, distribution and manufacture of all releases worldwide.
In Spain, where UMG has flamenco stars Paco de Lucia and the late Camaron de la Isla, the joint venture’s artists will be licensed to Gran Via Musical and distributed by UMG.
UMG’s current roster of Latino stars includes Miami-based crooner Enrique Iglesias; Spanish flamenco rock idols Ketama; Mexican vocalists Emmanuel, Pedro Fernandez, Manuel Mijares and Paulina Rubio; and U.S.-based bilingual female singer Soroya, who is of Colombian descent.
UMG also has distribution deals with such Latino diskeries as Venezuela-based Rodven, the L.A.-based Surco imprint (home to roc en espanol stars Molotov) and the RMN stable of labels.