The world’s biggest major label is certainly hitting the ground running in 2023 with deals.
Fresh from extending its licensing partnership with Tencent Music, UMG announced two acquisitions yesterday.
It’s buying Saban Music Latin, the label founded in 2019 by entertainment industry veteran Haim Saban. UMG’s Virgin Music Group is acquiring the company’s catalogue, and will release future albums by “selected” artists on its roster.
The two companies were already partners, and Saban himself is an independent non-executive director of UMG.
The other deal yesterday was purely about catalogue, with UMG acquiring the catalogue of UK-based South Asian-music label Oriental Star Agencies (OSA Ltd).
There’s a lot of history here: the label was founded in 1966, and has been a pivotal company in breaking UK Bhangra music among other genres.
UMG is very interested in South Asian music at the moment: last September it launched a joint venture called Desi Trill Music with Roc Nation co-founder Ty-Ty Smith and artist and producer Shabz Naqvi.
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