Music label, Los Angeles-based distribution and rights management company Cinq Music has announced a new partnership with Street Mob Records to expand its business in the burgeoning Mexican regional genre.
The deal – which includes an equity investment by Five in Street Mob – will see Five support Street Mob’s efforts to increase exposure for its artists, discover new talent and release new music.
Five described the deal as “the next step” in his “dominance of the white-hot regional Mexican genre.”
The first release under the partnership is that of Chino Pacas Yo Preferi Chambearwhich fell on June 8.
A subsidiary of GoDigital Media Group – a multinational conglomerate formed by Jason Peterson in 2006 – Cinq Music’s repertoire includes music recorded by a number of big names in Latin music, such as Bad Bunny, Arc Angel, Fuerza Regida and Natanel Cano, as well as stars such as Janet Jackson, Jason Derulo, Sean Kingston and TI, among others.
Five has raised significant sums of money through a series of funding rounds over the past few years, including a $100 million injection of GoDigital in 2022 for Cinq to “buy music rights, masters and publishing, and continue its international expansion”.
Street Mob’s own list includes a number of Latin stars, such as singer-songwriter Juanpa Salazar, Calle 24 (with 200,000 followers on TikTok) and Angel Tumbado, who has over half a million followers. monthly listeners on Spotify.
Street Mob Records was founded by Jesus Ortiz Paz, the lead singer of Fuerza Regida, a regional Mexican band from San Bernardino, California.
Fuerza Regida has had four Billboard Hot 100 hits in recent years, three of which were top 10 songs on the Mexican and Latin American charts.
Street Mob began working with Cinq Music through Cinq’s partnership with Rancho Humilde, a label with over 80 artists from the Mexican music scene.
“We’re betting on people, not just music, and it’s obvious that Jesus Ortiz Paz is going to take his success as an artist to his label.”
Barry Daffurn, Five Music
Five signed a global distribution deal with Rancho Humilde in 2019. This partnership is credited with fueling the careers of Fuerza Regida, Natanael Cano and Victor Cibrian, among others.
Cinq has a pedigree in regional Mexican music: other popular stars of the genre, including DannyLux and Grupo Marca Registrada, have released their first records through Cinq Music in recent years.
“We’ve worked with Five for years and know they’re committed to the genre,” Ortiz Paz said in a statement. “It’s only natural that we partner with them to grow and grow Street Mob – combining their infrastructure, experience and reach with our talent.”
“We’re betting on people, not just music, and it’s obvious that Jesus Ortiz Paz is going to carry his success as an artist on his label,” Five’s president Barry Daffurn said. “We are thrilled to team up with Street Mob Records to accelerate their growth.
“Cine is already bringing billions of streams a month to the music world – now we’re going to add incredible fuel to that fire with these important artists.”
Five is a key part of GoDigital’s strategy to build an entertainment business with a strong Latin music focus that includes both content and distribution channels.
In a 2021 interview with MBW, GoDigital CEO Jason Peterson said his company had seen revenue increase tenfold in the previous four years alone, and said he was building a business that encompasses “what it would be if Sony Music and MTV were under the same corporate umbrella in the 90s – core intellectual property ownership and a core demand generation function under common control.
“We’ve worked with Five for years and know they care about the genre. It’s only natural that we partner with them to grow and expand Street Mob – combining their infrastructure, experience and reach with our talent.
Ortiz Paz, street crowd
With regional Mexican music dominating Spotify’s streaming charts lately, the growing popularity of the genre has not gone unnoticed in the music industry.
According to RIAA data, recorded Latin music revenue exceeded the $1 billion brand in the United States in 2022, a 23.8% per year increase.
This gave Latin music a 6.9% US market share, versus 5.9% the year before. Latin music also claimed a 7.40% share of the U.S. paid subscription streaming market, according to MBW calculations based on RIAA data.
Even labels known for very different genres are interested in expanding into Latin music.
HYBE, the K-pop label behind BTS, reportedly raised $380 million earlier this year to fund acquisitions in the United States and expand beyond K-pop.
Many expect HYBE to invest in Latin music, following company chairman Bang Si-hyuk comments on CNN that he had watched the genre – along with afrobeats – grow “very rapidly” around the world.The music industry around the world