First release to be Andrea Bocelli’s 'Amor.'
Venevision International and Universal Music Latino have partnered to create a new record label that will capitalize on Universal’s clout as a major music company and Venevision’s clout as an international
entertainment company with multiple media platforms.
The joint venture, which is still to be named, will be run out of Venevision’s music division in Miami, which is headed by VP Jorge Pino.
Pino will sit on the joint-venture Board of Director along with Luis Villanueva, president/CEO of Venevision International; Jesús López, chairman/CEO of Universal Music Latin America & the Iberian Peninsula; and John Echevarria, President of Universal Music Latino.
Venemusic, the Venevision label that has garnered success with albums by Chi Chi Peralta and Juan Luis Guerra, will continue to operate, sign and develop its own artists.
The joint venture offers Venevision major international distribution, promotion and positioning for its artists, and offers Universal exposure in a variety of platforms, from television to ringtones. The partnership underscores Latin music’s increasing reliance on synergies and multimedia promotion.
The first release from the JV is Andrea Bocelli’s “Amor,” the Spanish version of his international release, “Amore.” The album will be released in the United States and the Latin region.