One size doesn't fit all artists when it comes to new business models and ways of dividing Latin music revenue, a Billboard Latin Music Conference panel concluded today (Tuesday).

Declining record sales have spawned new ways of slicing up the Latin music profit pie, several of which were on display via "The New Music Business" forum at the Seminole Hard Rock Hotel in Hollywood, Fla.

Concert promoter, manager and publisher Roptus Inc. partners with TV giant Televisa, using television shows as a platform to launch artists such as RBD and Diego. That model has helped label EMI Televisa sell albums in countries where it wouldn't normally have reach, said Roptus CEO Guillermo Rosas.

Rosas recalled an artist telling him, "It shouldn't be called a 360 deal, it should be called a 'screw me' deal." But "the more success stories we build...they'll start believing in it a lot more," Rosas said of signing artists to label deals that share in touring, merchandise and other ancillaries. Those deals provoke a greater investment by the label in producing music and videos, he added.

But TV should be used carefully, said Amir Agai, a partner in management firm Sei Track, which manages alt-pop-jazz artist Ximena Sarinana. Sei Track's 10 acts are signed to different labels, including the firm’s joint venture with Warner.

TV is "a good thing because you get the artist closer to the people. And it's a bad thing because you get the artist closer to the people. Sometimes the artist just has to be an artist...It's very easy to have overexposure and have them all be the same," said Agai.

In duranguense star Diana Reyes' case, she went independent and formed her own company, DBC Entertainment, which also encompasses recording, booking, and marketing. Reyes and another DBC act, El Trono de Mexico, are top 10 on Billboard's Top Latin Albums chart this week.

"My albums come out under a label I'm also a part of. So in that sense, it helps me. We're all focused on one thing... We're a new company but we're a young team with a lot of desire to go forward and develop artists."

Reyes' business partner Gabriel Fregoso said they sold not only albums at her in-stores, but also calendars and other merchandise. The company has also launched an online store on Reyes' Web site for such products.

Sony BMG/Day 1 managing director Ruben Leyva countered criticism of labels' taking cuts of revenue that were previously the artists' terrain by arguing that new acts have to work with labels on whatever their strong point might be in creating revenue in the first place.

"It may be about touring, it may be about management, it may be about record sales or digital," said Leyva. "How are we going to build this together? What can we provide you, the artist? Can we support you at radio? Can we support you from the promotional aspect? We go back to the artist and say, what are you going to bring to the table? It's just a question of making that fit."