Saban Invests $500 Mil In New Label
• Haim Saban, Chairman of Saban Capital Group, announced he will invest $500 million into the music industry and partner with seasoned music executive Gustavo Lopez to lead Saban Music Group (SMG), a global entertainment company that will focus on international A&R, artist development and strategically supporting a 360 model for their artists. SMG’s goal is 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,” Mr. Saban (left) said. “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.”
Lopez remarked, “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. 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.”
Concurrent with Lopez joining Saban Music Group, the company has also acquired Talento Uno’s record label, management and publishing assets. Lopez founded Talento Uno Music in 2017 after serving as GM/EVP of Universal Music Latin Entertainment. During his 21 years at Universal, Lopez also founded leading Latin-Urban imprint Machete Music and ran multiple labels, including Fonovisa/Disa. SMG also announced the following artists have signed alliances with the company: hit-making Israeli duo Static and Ben El; management of Colombian Reggaeton star Reykon and French artist Marie Monti, the label’s first female international act.
