Latin music executives predict next superstar
Some of the biggest executives in the Latin music industry have shared their predictions for acts that will break through on an international level.
2022 has been a seminal year for Latin America’s homegrown superstars, led by trap reggaeton artist-come-global superstar, Bad Bunny.
With the Puerto Rican star paving the way for others, IQ asked Bruce Moran (Live Nation Latin America), Phil Rodriguez (Move Concerts) and Carlos Geniso (DG Medios) who might be following in his footsteps.
“The world is ready for a female reggaeton superstar, and in my personal opinion she might be Karol G,” Bruce Moran, president of Latin America at Live Nation, tells IQ.
“Although she is known for her work in reggaeton and trap, she does perform in other genres like sertaneja and more. Her live shows are the stuff of current legend. We think Karol G may be “the next (really) big thing.”
“The world is ready for a female reggaeton superstar, and in my personal opinion she might be Karol G”
Just yesterday (9 October), Karol G’s live legacy was immortalised after her recent $trip Love outing became the highest-grossing US tour by a female Latin act in history.
The Colombian singer-songwriter grossed US$69.9 million across 33 arena shows in North America, during September and October, according to Billboard‘s Boxscore.
The 31-year-old, whose real name is Carolina Giraldo Navarro, is represented worldwide by Jbeau Lewis and Ryan Soroka at UTA, and managed by Noah Assad who also looks after Bad Bunny.
Karol G is also the name on Phil Rodriguez’s lips, who says: “Great talent, top line management. On her next tour she will be moving up to stadium level in various markets.”
The Move Concerts CEO also gave an honourable mention to “other new artists bubbling up such as Tiago PZK, Quevedo [20-year-old Spanish rapper], Eladio Carrion [27-year-old, Grammy Award-nominated American-Puerto Rican rapper] and others that are establishing themselves at arena level such as Rauw Alejandro [29-year-old Puerto Rican singer]”.
Earlier this year, Rodriguez discussed Tiago PZK’s burgeoning career with IQ, saying tickets to see the 21-year-old Argentine rapper and singer were flying off the shelf.
“We went on sale with an arena in Buenos Aires, we sold out in a half hour”
“We went on sale with an arena in Buenos Aires, we sold out in a half hour,” said Rodriguez. “We had to announce a second date, sold that out, too. His debut album hasn’t even dropped, but he’s amazing live and we want to build on that.”
Tiago is now part-way through his 37-date Portales tour – his first-ever – which comprises a mix of arena dates in Latin America, as well as clubs in Spain, England and the US.
The rising star signed to Warner Music Latina earlier this year via a partnership with Rodriguez’s Grand Move Records label.
The Move Concerts boss manages Tiago, while Agustina Cabo, one of IQ’s 2022 New Bosses, is his personal and tour manager.
While Rodriguez and Moran are betting on younger and newer artists to break through, Carlos Geniso of Chilean promoter DG Medios is hedging his bets with more established artists.
“There are many Latin artists who will be presenting new material next year and who will be touring again with world tours,” he tells IQ. “For example, Alejandro Sanz and Pablo Alborán are always a hit in Chile and sell-out venues. They have a loyal fan base that always follows them, and they are very well-liked.
“Another very important artist is Fito Paez, who is celebrating 30 years of his most successful album “El amor después del amor” – a milestone for rock music in Spanish. In addition, urban artists are in a spectacular moment for their rising careers, and I think that’s where we have to put the eye.”
Sanz, a Spanish musician, singer and composer, has already won 22 Latin Grammy Awards and four Grammy Awards, while fellow Spaniard singer-songwriter Pablo Alborán has got five studio albums under his belt. Fito Páez, meanwhile, is a 59-year-old Argentine popular rock and roll pianist, lyricist, singer-songwriter and film director.
Read more about Latin America’s rising stars and burgeoning touring market in IQ‘s recent market report.
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Uncertainty for promoters as Covid-19 spreads in Latam
Promoters in Latin America are facing much uncertainty as shows are shut down, curfews imposed and currency values decline due to the worsening spread of coronavirus
The first case of Covid-19 was reported in Latin America in late February, in the Brazilian city of São Paulo. The virus has now spread to many other countries in the region, including Argentina, Bolivia, Brazil, Chile, Colombia, Mexico, Peru, Uruguay and Venezuela.
In the region’s biggest touring markets, quarantines are in place in Argentina, Colombia and parts of Brazil. In Chile, the government has imposed a curfew between the hours of 10 p.m. and 5 a.m, with over one million residents of its capital, Santiago, put under lockdown today (26 March).
This week, the Mexican government placed a ban on all public and private gatherings of over 100 people for the next month, as the country moved into phase two of the epidemic.
“It is still way too early to gauge the full impact in the mid and long term,” says Phil Rodriguez, CEO of Move Concerts, which has offices in Argentina, Brazil, Colombia, Costa Rica, Peru and Puerto Rico, as well as its Miami headquarters. “The first impact is that shows and festivals have been cancelled or rescheduled.”
“For now, we are rescheduling shows from September onwards assuming that is a safe bet, but this could change.”
Major festivals in Latin America affected by the virus include the Lollapalooza festival franchise, which has been rescheduled for 23 to 26 November in Argentina, 27 to 29 November in Chile and 4 to 6 December in Brazil. Estéreo Picnic, due to take place in the Colombian capital of Bogotá in March, has now moved to the start of December.
“For now, we are rescheduling shows from September onwards assuming that is a safe bet, but this could change”
Rodriguez notes that promoters’ associations in all markets have been meeting and reaching out to governments for assistance in various forms, such as “ low interest credit lines, moratorium on taxes and extensions on the time period for reimbursements on cancelled shows.”
Asked what can be expected over the next few months, Rodriguez simply replies: “I wish I knew”.
“This is a continually changing scenario that can change at any minute and has so many parts involved that any speculation is sheer conjecture,” says the Move Concerts boss. “I think we all need a few more weeks to get a better handle on the longer term picture.”
Guillermo Parra, director of international events at Ocesa, the largest promoter in Latin America, agrees that the upcoming weeks “will be crucial”.
Live Nation announced its plan to acquire a controlling stake in Ocesa Entertainment, the world’s fifth-largest promoter and the parent company of Ticketmaster Mexico, in July last year. The promoter puts around 3,100 shows a year and operates 14 venues across Mexico.
“At the moment, all gatherings have been banned – from movie theaters to concerts – until 19 April,” says Parra, “but I honestly think this will go on for longer.”
“When we wake from the virus nightmare, the economic reality will begin”
In Chile, a market which has seen heavy disruption over the past few months due to wide-spread anti-government protests, promoters are rescheduling shows to June, subject to venue availability and touring schedules, says Carlos Geniso, president of DG Medios.
On 18 March, Chilean president Sebastian Piñera declared a “state of catastrophe” for 90 days in the whole country, including a ban on gatherings in public spaces and the establishing of a quarantine and curfew. After Brazil, the country is currently one of the worst affected in the region, with 1,142 confirmed cases.
“We are trying to move as much we can to the last quarter calendar of 2020,” says Geniso, adding that the income loss for thousands of people working in the country’s live industry “will be great for a long period of time”.
The economic impact of the virus is of great concern for all in Latin America. Rodriguez states that Brazil and Colombia have been hit particularly hard by the virus, not just in terms of numbers – Brazil has reported 2,201 cases and Colombia has 378 – but rather because “the exchange rate with the dollar has skyrocketed”.
One dollar is equivalent to 5.05 Brazilian reales, up from BRL4.45 at the end of February, whereas 4,066 Colombian pesos now equal $1, increasing from COP3,460 a month ago.
In Mexico, Parra states that, between the virus and declining oil prices, “the Mexican peso has been crushed”. The Mexican currency fell to a record low against the dollar earlier this week, with $1 selling for over 25 pesos on Monday.
“When we wake from the virus nightmare, the economic reality will begin,” says Parra.
Photo: Leonardo Samran/Flickr (CC BY 2.0) (cropped)
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LN strengthens Latam presence with DG Medios stake
Live Nation has acquired a majority stake in independent Chilean concert promoter DG Medios, as the live entertainment behemoth further strengthens its foothold in Latin America.
The stake adds to majority shareholdings for Live Nation in Argentina’s DF Entertainment, Brazilian festival Rock in Rio and major Mexican promoter Ocesa Entertainment.
IQ calculates that Live Nation has taken a majority shareholding in 19 promoters, festivals and other live music-related businesses worldwide this year.
Santiago-based DG Medios, which was founded by well known regional promoter Carlos Geniso, sold over 330,000 tickets last year and has promoted shows by U2, Rolling Stones, Guns N’ Roses, Paul McCartney and Justin Bieber.
“DG Medios is another important step in expanding our footprint across Latin America”
According to the International Ticketing Yearbook 2019, the promoter is one of a number of local players, along with Lotus and Bizarro, that contribute to “the health of Chile’s live music market”.
Live Nation has co-promoted with DG Medios owner Geniso, who will continue to oversee all operations at the company, for tours by the likes of Bon Jovi, Bruno Mars, Phil Collins, Depeche Mode and Harry Styles.
Live Nation president and CEO Michael Rapino says he is “thrilled to be in business with legendary Chilean promoter Carlos Geniso”, adding that, “DG Medios is another important step in expanding our footprint across Latin America.”
Geniso comments that: “Teaming up with Live Nation will give us access to resources that will be instrumental in growing our substantial roster of shows even further. The DG Medios team and I are excited to provide even more memorable experiences for fans.”
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