Sony Latin & Nexoom AG Partner Up To Expand Sponsorship Opportunities For Top-Tier Artists
Swiss-based interactive entertainment company Nexoom AG has secured a partnership with Sony Music Latin. This collaboration will extend business and sponsorship opportunities for Sony Music’s “Tier 1 Artists” in the US Latin region.
Since its foundation in Zug Nexoom has maintained a role as a leader in digital entertainment dedicating itself as a global powerhouse in interactive entertainment. With a focus on media, content, technology, products, and online services, works on the crossroad of streaming and live entertainment with a huge series of partners from BMW, New Balance to their in-house streaming product Ection, the company has been pushing to revolutionize the live streaming experience.
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The Partnership with Nexoom
Using Nexoom’s innovations and digital environment, Sony hopes to provide its artists and fans with previously unattainable value. It’s not simply a financial arrangement, in their eyes; it’s “a commitment to a long-term partnership based on mutual growth and shared values of innovation, excellence, and artist empowerment.”
“This partnership marks a monumental step forward for Nexoom and Sony Music Entertainment into the new era of interactive entertainment, by leveraging our combined resources and shared vision, we will amplify the voice of incredible artists and enable distinctive opportunities for Sony Music Latin.” – says Cristina Niculae, Nexoom CEO.
“We are not just signing a contract; we are building a bridge,” Niculae continues. “This alliance signifies a bold step towards our vision for the future of entertainment, where technology and talent coalesce into something truly exceptional.”
“We are very excited to work with Nexoom in bringing initiatives that reflect our commitment to integrating music and lifestyle, offering fans unique experiences beyond the music,” adds Alex Gallardo, President of Sony Music US Latin.
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Latin Music Industry on the Rise
The RIAA (Recording Industry Association of America) reports that Latin recorded music in the United States produced $1.09 billion in retail sales, an increase of 23.8% from the previous year.
This expansion exemplifies Latin music’s continued ascent to the top of the U.S. music industry. The Latin music genre’s revenue growth in 2022 was more than the total US recorded music industry’s 6.1% YoY rise in sales, which hit a new high of $15.9 billion.
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In 2022, Latin music reached its highest-ever percentage of the overall recorded music industry, at 6.9%. This is a significant rise from the projected 5.9% for the year 2021. Latin music’s appeal in the United States has skyrocketed in recent years. Only 3.97 percent of the money made from album sales in the United States in 2017 came from Latin music. This trend, that is now reverberating throughout the world, is a clear indication that integrating this level of experiential technology in this sub-genre will exponentially grow the whole.
New Kind of Sponsorship with Nexoom
Sony Music US Latin is the top Latin music label in the world and home to the most prolific Latin artists, from rising and independent artists to global superstars. As a full-service record label, the company prides itself on its comprehensive artist services that elevate and support creators at every stage of their careers. With its newest partnership, Sony might just tip the scales as the more dominant of the big 3.
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