Most important, he says, “we haven’t had to cut one job.”īut the real challenge is the future, as the signing of new talent has stalled. “Fortunately, we’ve been very active in the management part,” he says, highlighting new sponsorship deals by Yatra and Mercado Libre. “It has been the hardest part,” says López, who has a growing business in his company’s management/live entertainment division, GTS, which manages Sebastián Yatra and David Bisbal, among others. Streaming also offset revenue losses from live shows canceled due to the coronavirus. Latin labels, which include regional Mexican powerhouses Disa and Fonovisa, now account for 25.34% of the Latin market, according to Nielsen Music/MRC Data, with UMG’s total market share at 36.02%. Massive streaming numbers - Balvin notched 1 billion streams the first week of release for his album Colores - allowed UMG’s Latin music business to grow 25% year to date versus 18% for the market as a whole in 2020, says López. And the full backing of Lucian Grainge, who serves the dinner.” “I feel I truly have a seat at the table, with the same plate as my Interscope colleague, for example. “Everything started with ‘Despacito,’ ” says Jesús López, chairman/CEO of Universal Music Latin America & Iberian Peninsula, whose roster includes 700 artists. And non-Latin stars are eager to collaborate and claim chart-toppers with them. Three years later, Universal Music Latin can point to success in the United States and around the world with artists like Bad Bunny, J Balvin, Karol G and Christian Nodal. In 2017, “Despacito,” from Luis Fonsi and Daddy Yankee (with a remix featuring Justin Bieber), ushered in a new era of global mainstream hits by Latin artists. Managing director, Fonovisa Disa USA/México President, Universal Music Latin EntertainmentĮxecutive vp, Universal Music Latin America and Iberian Peninsula Managing director, Universal Music Latino, Machete and Capitol Latin Chairman/CEO, Universal Music Latin America & Iberian Peninsula

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