Wisin & Yandel had an epiphany a year ago in December, while playing a 17-and-under party in New York.

"We looked around, and all you saw was kids listening to their music on their phones and sharing the ringtones," manager Edgar Andino says. "After that, it seemed everywhere we went, people asked us about ringtones and voice tones. And we thought, 'Holy cow, this could be something.' "

Today, the market's hottest reggaetón duo has become the Latin poster child for new technologies and brands, cutting deals with the likes of Zune and carrier SunCom, which on Feb. 1 released a Wisin & Yandel-branded and loaded cell phone.

Now, the duo is readying its own mobile aggregator company, WYMo, in a joint venture with Puerto Rican aggregator Mymobile. This means Wisin & Yandel will actually own a mobile content company, an unusual—if not unprecedented—scenario for a recording act. WYMo's initial push will be on text messaging and promotions surrounding the duo.

This is all in addition to more typical branding deals, including watches, sunglasses and a forthcoming clothing line.

"We want people to understand that Wisin & Yandel are not just a reggaetón product, but a business product that gives results," Wisin says. "And we want people to understand they can consume our music not just on a CD. It's a mistake to think the industry is on a downslide. You have to make technology work for you."

Although mobile and digital companies have long been interested in reggaetón acts as a way to target the burgeoning—and elusive—Latin youth market, Wisin & Yandel (real names Juan Luis Morera Luna and Llandel Veguilla Malavé) have been especially adept at creating opportunities for themselves. That thrust began two years ago, when the pair, newly signed to Universal-owned Machete Music, released "Pa'l Mundo," got new promotional thrust and hooked up with Andino, a marketer who had worked as a consultant with Pepsi and Anheuser-Busch.

"We sat down and made a two-year plan," Andino says. A major objective, he adds, was to have audiences put a face to Wisin & Yandel's hit songs.

Click here to find out more about how Wisin & Yandel have branded their music in the mobile, digital and fashion space.