Billionaire Haim Saban Pledges $500 Million to Launch New Latin Music Group
– Saban Music Group
Haim Saban, the billionaire chairman of Saban Capital Group, and the man who brought the Mighty Morphin Power Rangers to public consciousness, is dipping his toes in the music business once again to the tune of a $500 million war chest for a Latin music-oriented label, the Saban Music Group. He has partnered with former UMG Latin music head Gustavo Lopez, who will head the label.
Saban Music Group (SMG) will focus on international A&R, artist development with a 360 model for their clients. SMG “will look to sign, work with, guide and provide resources to international artists while giving them an outlet to express their music to the world.” As part of its overall growth strategy, SMG will dedicate resources towards the acquisition of recording, publishing and management entities.
“Music has always been one of my life’s greatest passions — shaping, influencing and motivating me on a daily basis,” commented Savan. “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,” added Lopez. “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.”
Saban Music Group has acquired Lopez’s Talento Uno, which includes a record label, management company and publishing assets. Lopez founded Talento Uno Music in 2017 after serving as GM/EVP of Universal Music Latin Entertainment where he worked for 21 years. While at Universal, Lopez founded leading Latin-urban label Machete Music and ran multiple labels, including Fonovisa/Disa.
The company’s first signings include Israeli duo Static and Ben El; management of Colombian reggaeton star Reykon, who recently released “Latina” featuring Maluma; and French act Marie Monti, the label’s first global female act.
Spanning over 40 years, Saban’s entertainment career ranges from launching a chain of record labels in 1983, developing large-scale publishing firms, forming an international television company that later merged with Fox Family Worldwide, which sold to Disney for $5.3 billion, to leading a group of investors to acquire Univision Communications, Inc. He is also passionately devoted to the philanthropic and political arenas, which reflects both his wide breadth of interests and his commitment to a strong relationship between the United States and Israel.