Los Angeles-headquartered music label, distribution and rights management company Cinq Music has announced a new partnership with Street Mob Records to grow its business in the booming regional Mexican genre.
The deal – which includes an equity investment by Cinq into Street Mob – will see Cinq support Street Mob’s efforts to grow its artists’ exposure, discover new talent and release new music.
Cinq described the deal as “the next move” in its “dominance of the white-hot regional Mexican genre.”
The first release under the partnership is Chino Pacas’ Yo Preferi Chambear, which dropped on June 8.
A subsidiary of GoDigital Media Group – a multinational conglomerate formed by Jason Peterson in 2006 – Cinq Music’s repertoire includes music recorded by a number of prominent names in Latin music, such as Bad Bunny, Arc Angel, Fuerza Regida and Natanel Cano, plus stars such as Janet Jackson, Jason Derulo, Sean Kingston and T.I., among others.
Cinq has raised large amounts of money through a series of funding rounds over the past several years, including a $100-million injection from GoDigital in 2022 for Cinq to “purchase music rights, both masters and publishing, and to further its international expansion.”
Street Mob’s own roster includes a number of Latin stars, such as singer-songwriter Juanpa Salazar, Calle 24 (with 200,000 followers on TikTok), and Angel Tumbado, who has more than half a million monthly listeners on Spotify.
Street Mob Records was founded by Jesus Ortiz Paz, the lead singer of Fuerza Regida, a regional Mexican band out of San Bernardino, Calif.
Fuerza Regida has clocked four Billboard Hot 100 hits over the past few years, three of which were top 10 songs on the Mexican and US Latin charts.
Street Mob began working with Cinq Music through Cinq’s partnership with Rancho Humilde, a label with more than 80 acts in the Mexican music scene.
“We bet on people, not just music, and it’s obvious that Jesus Ortiz Paz is going to carry his success as an artist into his label.”
Barry Daffurn, Cinq Music
Cinq inked a global distribution deal with Rancho Humilde back in 2019. That partnership is credited with fueling the careers of Fuerza Regida, Natanael Cano and Victor Cibrian, among others.
Cinq has pedigree in regional Mexican music: other popular stars in the genre, including DannyLux and Grupo Marca Registrada, released their first records through Cinq Music in recent years.
“We have worked with Cinq for years and know that they’re committed to the genre,” Ortiz Paz said in a statement. “It’s only natural that we should partner with them to grow and expand Street Mob – combining their infrastructure, experience, and reach with our talent.”
“We bet on people, not just music, and it’s obvious that Jesus Ortiz Paz is going to carry his success as an artist into his label,” Cinq President Barry Daffurn. “We are excited to team up with Street Mob Records to accelerate their growth.
“Cinq already brings billions of streams a month to the music world – now, we’re going to add incredible fuel to that fire with these important artists.”
Cinq is a key part of GoDigital’s strategy to build an entertainment business focused heavily on Latin music, and which includes both content and distribution channels.
In a 2021 interview with MBW, GoDigital CEO Jason Peterson said his company had seen a tenfold increase in revenue in just the prior four years, and said he’s building a company that encompasses “what it would be like if Sony Music and MTV were under the same corporate umbrella in the ’90s – the core IP ownership and a primary demand generation function under common control.”
“We have worked with Cinq for years and know that they’re committed to the genre. It’s only natural that we should partner with them to grow and expand Street Mob – combining their infrastructure, experience, and reach with our talent.”
Ortiz Paz, Street Mob
With regional Mexican music dominating Spotify’s streaming charts of late, the soaring popularity of the genre hasn’t gone unnoticed in the music business.
That gave Latin music a 6.9% share of the US market, up from 5.9% the year before. Latin music also claimed a 7.40% share of the US paid subscription streaming market, according to MBW’s calculations based on RIAA data.
Even labels that are known for very different genres are interested in expanding into Latin music.
HYBE, the K-pop label behind BTS, reportedly raised $380 million earlier this year to fund acquisitions in the US and to expand beyond K-pop.
Many expect HYBE will be investing in Latin music, following company chairman Bang Si-hyuk’s comments on CNN that he’d been watching the genre – along with afrobeats – growing “very rapidly” worldwide.Music Business Worldwide