Sony Music has acquired a minority stake in specialist Latin music label WK Records.
WKR was launched in 2020 by US-based Latin music executive, Walter Kolm, a former President of Universal Music Latin Entertainment.
The label’s roster includes the likes of Puerto Rico-born superstar Alex Rose and artist/producer Foreign Teck, who has production credits on tracks by the likes of Post Malone, DaBaby and Tory Lanez.
Other artists signed to the label include Argentinian Latin trap artist Seven Kayne and Colombian rapper Cheo Gallego.
In addition to WKR, Kolm also runs US-headquartered, Latin music-focused artist management and services company, WK Entertainment.
Walter Kolm Entertainment’s roster includes the likes of Maluma, CNCO, Wisin, Carlos Vives, and Emilia Mernes.
Sony‘s investment in WKR marks a significant expansion of its relationship with Kolm and his companies.
The major music company acquired 50% of WK Entertainment in 2019. Billboard reports today (March 14) that majority ownership of WK Records will remain with Kolm following the new partnership with Sony.
“This partnership is personally meaningful to me because of the trust and admiration that I have for Rob Stringer, Afo Verde and Sony Music.”
Walter Kolm, WK Entertainment
WK Entertainment CEO Walter Kolm said: “This partnership is personally meaningful to me because of the trust and admiration that I have for Rob Stringer, Afo Verde and Sony Music.
“It confirms our shared vision to continue to lead and impact the Latin music industry with an unparalleled world-wide magnitude, as we combine our strengths and build an unprecedented alliance.”
“This was a natural next step for us, and we’re excited to work with WK Records to launch a whole new generation of international superstars together.”
Afo Verde, Sony Music Latin-Iberia
Afo Verde, Chairman and CEO, Sony Music Latin-Iberia, added: “We have an incredible relationship with the entire WK family.
“This was a natural next step for us, and we’re excited to work with WK Records to launch a whole new generation of international superstars together.”
The arrival of Sony’s partnership with WK Records marks the major’s latest in a string of high-profile investments in recent months.
In February, Brazil’s competition watchdog, CADE (Conselho Administrativo de Defesa Econômica), gave approval to Sony Music’s acquisition of Som Livre, owner of Brazil’s biggest domestic record label.
Sony initially announced its acquisition of Som Livre – from prior owner Globo Comunicação E Participações – in April last year.
Meanwhile, in February, the UK’s Competition and Markets Authority (CMA) gave the provisional green light to Sony’s $430 million acquisition of AWAL from Kobalt Music Group.
SME has also been busy investing in music catalogs of superstar artists, having fully acquired Bob Dylan’s catalog of recorded music in a deal that concluded in July 2021 (but announced in January).
The company’s acquisition of Bob Dylan’s recorded music catalog followed Sony Music Group‘s deal struck with Bruce Springsteen in December, when it acquired two sets of rights – both recordings and music publishing – covering the entirety of Springsteen’s catalog, in a deal worth at least $500 million.
In early February, the company’s parent – Sony Corp – revealed that its global recorded music and music publishing entities generated approximately $7.5 billion in calendar 2021.Music Business Worldwide
