Latin American music label The Wave Music Group has signed a long-term distribution agreement with Capitol Music Group
Independent Latin music company The Wave Music Group has signed a long-term distribution agreement with Capitol Music Group (CMG).
The deal with the Puerto Rico and Miami-based label was announced Tuesday (April 18) by Wave Music Group owners Angelo Torres and Caleb Calloway and CMG Chairman and CEO Michelle Jubelirer.
CMG’s deal with The Wave Music Group follows last week’s news that Latin music has officially generated more than $1 billion in US music revenue in 2022.
The total retail revenue generated from Latin music in the United States reached $1.09 billion in 2022, up 23.8% year-on-year.
The first music under the new deal comes from Puerto Rican rapper and songwriter Young Miko, his first single under the new deal Lisahas already collected more than 50 million audio streams and 20 million video streams.
The track has also been used in more than three million TikTok UGC creations that have generated 475 million views.
As part of the agreement, according to the announcement, CMG will also provide Wave Music Group with “a myriad of services in support of its releases,” complementing the company’s internal capabilities that have been built and developed since its inception in 2021.
Wave Music Group was formed by Torres and Calloway in 2021 after Torres spent many years managing top Latin American talent, representing Mexican-born singer, songwriter and performer Mariangela and Puerto Rican rapper Alvaro Diaz, among others.
He was also A&R Director at Magnus Media, the company founded by music star Marc Anthony and veteran talent agent Michel Vega.
Torres also worked as A&R director on the Grammy-winning album Dharma by Sebastian Yatra. Calloway has amassed more than 22 billion streams across his many production credits, including work with artists such as Bad Bunny, Sebastián Yatra, Rauw Alejandro, Anuel, Arcángel, Sech, Álvaro Díaz, J Balvin, Zion & Lennox, and The Martinez Bros. among others.
He has worked as a producer on three Grammy Award-winning albums, including El Ultimo Tour del Mundo by Megastar Bad Bunny, 2021 Album of the Year and Best Urban Music Album, and Dharma by Sebastian Yatra, awarded Best Latin Pop Album in 2023.
Calloway is the producer of the new single panties and bras by Rauw Alejandro and Daddy Yankee.
“Their entrepreneurial spirit and solid foundation combined with CMG’s expertise and passion will result in a great partnership for years to come.”
Michelle Jubelirer and Jeremy Vuernick, CMG
According to cheerleaders and CMG President of A&R Jeremy Vuernick, Angelo Torres and Caleb Calloway, “The Wave have become a proven force in the development and breakthrough of artists in the Latin music arena.
They added, “Their entrepreneurial spirit and solid foundation, combined with CMG’s expertise and passion, will result in a great partnership for years to come.”
“Caleb and I have always felt like creators of before-and-after moments in our industry. Helping artists succeed is our top priority.”
Torres said, “Caleb and I have always felt like creators of before-and-after moments in our industry. Helping artists succeed is our top priority.”
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