Roughly six months since funneling half a billion dollars into new record label and music company Saban Music Group (SMG), entertainment mogul Haim Saban has secured Universal Music Group's support for the venture.
Under a new a global distribution and marketing agreement, the Los Angeles-based SMG will be distributed in the U.S. by Caroline, an arm of UMG subsidiary Capitol Music Group. For all other territories, SMG will work in tandem with Caroline International's 11 offices outside the U.S., and UMG's central services team, based in Santa Monica, Calif.
“Haim has a proven track record of creating world-class entertainment,” commented UMG chairman and CEO Sir Lucian Grainge. “We’re looking forward to working with his team at Saban Music to bring groundbreaking new artists and music to fans around the globe.”
The strategic alliance will kick off on Jan. 10 with the release of the new track "Further Up" by SMG signees, Israeli duo Static & Ben El, featuring Pitbull.
Haim, a former musician, record producer and record-label owner, is best known for turning his success launching 1993 children's TV show Mighty Morphin Power Rangers into Fox Family Channel, a joint venture with News Corp. In July 2019, he announced a $500 commitment to SMG including the future acquisition of publishing and management entities.
“Sir Lucian has built the #1 music company in the world with an unprecedented streak of artist development,” Saban commented. “There is no better home for our artists and their music.”
SMG is spearheaded by CEO Gustavo Lopez, whose Latin entertainment company, Talento Uno Music, was acquired by Saban in May. Lopez also has a more than two-decade career at Universal Music at his back — he left his role as GM/EVP of Universal Music Latin Entertainment in 2017 to launch Talento.
The company is now focused on developing artists with international appeal. So far, SMG has signed artists including Colombian reggaetón star Reykon and Puerto Rican YouTuber Daniel El Travieso (both from Lopez’s Talento Uno), along with Static & Ben El and French artist Marie Monti.
Added Lopez: “It’s exciting to once again work with UMG, my home for more than 20 years. We’re looking forward to working with Sir Lucian’s record-breaking and industry-leading teams.”