Business News Deals Labels & Publishers

Concord acquires Fania

By | Published on Monday 30 July 2018

Fania

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’.



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