Rimas Entertainment, best known as the home of Latin music superstar Bad Bunny, has acquired a ‘significant’ stake in Dale Play Records.
Formed in 2018 by Federico Lauría, Argentina-based Dale Play releases music by superstar producer and DJ Bizarrap, whose Bzrp Music Sessions with various Latin Music artists are streaming megahits.
According to the official announcement on Thursday (March 6), the deal was “made possible thanks to the support of Rob Stringer (Chairman, Sony Music Group), Afo Verde, and the entire Sony Music family, as well as Brad Navin, Jason Pascal, and the team at The Orchard“.
The press release added: “Their collaboration has been instrumental in bringing this partnership to fruition, and their trust underscores the significance of this new chapter in the industry.”
The agreement establishes a partnership between Rimas Entertainment, Dale Play Records, and Sony Music Entertainment, with Federico Lauria continuing as CEO of Dale Play Records.
In addition to Bad Bunny, Puerto Rico-born Rimas is home to Latin music stars including Arcángel, Cris MJ, Eladio Carrión, Mora, and Quevedo, while Dale Play Records is also behind stars such as Duki, Nicki Nicole, and Rels B.
As a result of this acquisition, Rimas Entertainment expands its global footprint, adding Dale Play Records’ operations in Argentina, along with offices in Mexico, Spain and Uruguay to its existing presence in Puerto Rico, Mexico, Spain, and the United States.
According to the official announcement on Thursday (March 6), the partnership is the result of “years of collaboration between both labels, united by a shared vision for the future of the Latin music market and a deep commitment to creative freedom”.
“With Federico and DALE PLAY, we’ve built a relationship founded on trust and mutual admiration.”
Noah Assad, Rimas Entertainment
Noah Assad, CEO of Rimas Entertainment said: “From day one, our mission has been to support and develop artists with authenticity and respect for their identity.
“With Federico and DALE PLAY, we’ve built a relationship founded on trust and mutual admiration. This alliance will allow us to break new boundaries and create opportunities for our artists and teams.”
“We share the same vision and values, driven by a passion and a dream to take Spanish-language music and culture to the world.”
Federico Lauria, Dale Play Records
Federico Lauria, CEO of Dale Play Records, added: “Afo and I have had a long-standing friendship for many years, united by a mission to elevate Latin music to the highest level.
“This partnership reflects a journey we have been on for many years with Noah, Jomy, and the RIMAS team. We share the same vision and values, driven by a passion and a dream to take Spanish-language music and culture to the world.”
“It is a privilege to continue our partnership with them, and I look forward to the remarkable opportunities and accomplishments we will share as we continue to collaborate.”
Afo Verde, Sony Music
Afo Verde, Chairman & CEO Latin America, Spain and Portugal at Sony Music, said: “I have great admiration for the achievements of both Fede and Noah.
“They epitomize the new generation of executives and label leaders, characterized by their independent spirit and innovative approach. Their dedication to their artists and vision for the future is truly commendable.
“It is a privilege to continue our partnership with them, and I look forward to the remarkable opportunities and accomplishments we will share as we continue to collaborate.”
“This alliance is key to expanding our global reach and connecting with talent wherever it may be.”
Jonathan “Jomy” Miranda, Rimas Entertainment
Jonathan “Jomy” Miranda, President of Rimas Entertainment, said: “This alliance is key to expanding our global reach and connecting with talent wherever it may be.
“We have always been at the forefront of discovering new artists, and now, through this partnership, we will have ears in more corners of the world to support and develop the next generation of stars.”
MBW suggested in 2023 that Dale Play Records could be an acquisition target in the booming global Latin Music business.
Bizarrap’s Bzrp Music Sessions Vol. 52, with Spanish rapper Quevedo has been streamed over 1.8 billion times on Spotify alone.
The follow-up, Bzrp Music Sessions, Vol. 53 with Shakira has been streamed over 1 billion times on Spotify alone.
Dale Play reportedly struck an “exclusive partnership with Sony Music” in 2020.
In a presentation to Sony investors in May last year, Rob Stringer confirmed that Sony Music Group had “heavily invested in the label Rimas, home of superstar Bad Bunny”.Music Business Worldwide
