FONOVISA RECORDS, A DIVISION OF UNIVISION MUSIC GROUP, REACHES DISTRIBUTION AND LICENSING AGREEMENT WITH UMVD
Partnership Makes UMVD the Leading Distributor of Latin Music in the U.S. and Strengthens Fonovisa Records’ Position with U.S. Retailers while Extending its Global Reach
Los Angeles, California and Santa Monica, California, January 8, 2003 – Univision Music Group, a subsidiary of Univision Communications Inc. (NYSE:UVN) and Universal Music & Video Distribution (UMVD), the U.S. sales and distribution arm of the Universal Music Group, today announced that they have reached an exclusive distribution agreement for Univision Music Group’s wholly owned label, Fonovisa Records. The agreement provides for Fonovisa Records to be distributed by UMVD in the U.S. and Mexico and license for the rest of the world.
The unparalleled partnership makes UMVD the leading distributor of Latin music in the U.S. and significantly strengthens Fonovisa’s position with U.S. retailers while broadening Fonovisa’s reach globally. Fonovisa Records is one of the leading Latin music labels in the U.S. and Mexico, consistently dominating the top of the Billboard charts with some of the industry’s highest grossing multi-platinum artists like Los Tigres del Norte, Conjunto Primavera, Marco Antonio Solís, Los Temerarios, Banda el Recodo, Los Huracanes del Norte and Los Angeles de Charly, among others.
"This is a wonderful opportunity for us to achieve greater access with U.S. retailers while providing wider global exposure for our artists," said Jose Behar, President and Chief Executive Officer, Univision Music Group. "We are thrilled with the opportunity to broaden our relationship with Universal Music Group which currently distributes Univision Records in the U.S. and Mexico and Disa Records in the U.S. This agreement will allow our international division to work closely with Universal affiliates around the world to provide greater global reach for our artists."
"UMVD’s agreement with Fonovisa is an incredible opportunity to expand our relationship with Univision Music Group," said Jim Urie, President, Universal Music & Video Distribution. "The addition of Fonovisa Records will clearly place Universal as the No.1 distributor of Latin music in the U.S. We are both proud and excited about this partnership and look forward to many years of continued success."
"Latin music is achieving phenomenal popularity, both in the U.S. and around the world," said Zach Horowitz, President and Chief Operating Officer, Universal Music Group. "Over the past 18 months, Universal has gone from last among the majors in Latin music in the U.S., to a close second place. With the addition of Fonovisa Records, Universal becomes the clear market leader. In the last year alone, we have increased our Latin music sales by 63%. Univision Music Group has played a unique and important role in our success. We welcome Fonovisa Records to the Universal family. We look forward to working closely with José Behar and his team in bringing the music from this leading and most notable label to fans around the world."
About Univision Music Group
Univision Music Group, the only Latin record company headquartered in Los Angeles, is a subsidiary of Univision Communications Inc. (NYSE:UVN), the premier Spanish-language media company in the United States. Univision Music Group is a leading Latin music recording and publishing company in the U.S. and Puerto Rico with a 35% market share according to the RIAA’s shipment data. Univision Music Group has three primary labels under its corporate umbrella — Univision Records, Fonovisa Records and a 50% ownership in Mexico-based Disa Records. For more information, visit www.univisionmusic.com.
Univision Communications Inc. (NYSE: UVN) is the premier Spanish-language media company in the United States. Its operations include: Univision Network, the most-watched Spanish-language broadcast television network in the U.S. reaching 97% of U.S. Hispanic households; TeleFutura Network, the new 24-hour general-interest Spanish-language broadcast television network reaching 73% of U.S. Hispanic Households; Univision Television Group, which owns and operates 22 Univision Network television stations and 1 UPN television station; TeleFutura Television Group, which owns and operates 31 TeleFutura Network television stations; Galavisión, the country’s leading Spanish-language cable network; Univision Music Group, which includes the Univision Music label, Fonovisa Records label, Rudy Perez Enterprises label and a 50% interest in Mexican based Disa Records label as well as Fonomusic and America Musical Publishing companies; and Univision Online, the premier Internet company in the U.S. Hispanic market located at www.univision.com. Univision Communications is headquartered in Los Angeles with network operations in Miami and television stations and sales offices in major cities throughout the United States.
About Universal Music Group
Universal Music Group is the world’s leading music company with wholly owned record operations or licensees in 63 countries. Its businesses also include Universal Music Publishing Group, one of the industry\'s largest global music publishing operations. Universal Music Group consists of record labels Decca Record Company, Deutsche Grammophon, Interscope Geffen A&M Records, Island Def Jam Music Group, Roadrunner, Lost Highway, MCA Nashville, MCA Records, Universal South, Mercury Records, Motown Records, Philips, Polydor, Universal Records, and Verve Music Group as well as a multitude of record labels owned or distributed by its record company subsidiaries around the world.
The Universal Music Group owns the most extensive catalog of music in the industry, which is marketed through two distinct divisions, Universal Music Enterprises (in the U.S.) and Strategic Marketing and Commercial Affairs (outside the U.S.). Universal Music Group also includes eLabs, its division dedicated to strategy, business development, and management of new businesses in the online and advanced technology space. Universal Music Group is a unit of Vivendi Universal, a global media and communications company.