This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Business News Deals Labels & Publishers
Concord acquires Fania
By Andy Malt | Published on Monday 30 July 2018
US-based Concord Music has announced that it has acquired Latin-orientated music company Fania Records And Publishing. Previously owned by the Miami-based Codgio Entertainment, Fania controls around 19,000 master recordings and a songs catalogue of around 800 works across a wide range of genres.
“Concord has made a very significant commitment to the acquisition and management of key Latin catalogues”, says Concord’s Chief Business Development Officer Steven Salm. “To have the opportunity to add a crown jewel of Latin music like Fania, with its incredible roster of artists and songwriters, excites all of us at Concord”.
The firm’s CEO Scott Pascucci adds: “We are huge fans of Fania and its extraordinary musical legacy. As investors, the acquisition makes sense because of the growth in streaming and the demographic shifts in consumption – and we want to be at the forefront of investing in that shift. But, more importantly, we love the music and couldn’t pass on the opportunity to bring [it] to future generations around the world”.
Among the recordings in the Fania catalogue is Pete Rodriguez’s ‘I Like It Like That’, which is currently earning good money thanks to a sample used in Carbi B’s ‘I Like It’.
