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Reykon (Source: Instagram)
Entertainment mogul Haim Saban has launched a new music company Saban Music Group (SMG) with a planned investment of $500 million. The group, which is comprised of a label and publishing company, has a global outlook with a Latin focus.
To start things off, the label has signed Colombian reggaeton star Reykon, Israeli duo Static & Ben El, and French artist Marie Monti. SMG is also negotiating with three music companies regarding acquisitions.
SMG is led by CEO Gustavo Lopez, whose Latin entertainment company, Talento Uno Music, was acquired by Saban. Lopez previously served as a GM and executive VP at Universal Music Latin Entertainment, where he launched the Machete Music label. Machete is home to stars like Don Omar and Wisin & Yandel. Lopez also ran Universal Music Latin Entertainment’s regional Mexican labels, Fonovisa and Disa.
Saban has had a long career in entertainment, including in the Latin market. He began as a musician, record producer, and then label owner. However, Saban may be best known for launching the 90s TV show Mighty Morphin Power Rangers as part of his TV production company, Saban Entertainment. In 2007, Saban also led a group of investors to acquire Latin media giant Univision Communications, where he currently serves as chairman. Univision and SMG functions independently from each other.
“Bad Bunny wasn’t a superstar two years ago,” Lopez told Billboard. “We’re in a world where artists are developing at a faster pace than they ever were. One of our goals is finding artists that have strong regional appeal and make them into international stars.”
“We are not going to sign 100 artists,” Saban told Billboard. “This is going to remain a boutique label with significant resources to put behind the very few artists that we will sign. Except for hip-hop, there is no limitation to the categories of music we will look to be involved with.”