Rimas Entertainment, recognized as the powerhouse behind Bad Bunny and currently ranked as the No. 1 label on Billboard‘s 2024 year-end Top Independent Labels chart, has made a strategic move by acquiring a “significant” stake in Dale Play Records. This bold step positions Rimas alongside the maverick Argentine label that is home to influential artists such as DJ Bizarrap, Rels B, and rapper Duki, as confirmed by Billboard. This acquisition not only enhances Rimas’s portfolio but also signifies a growing influence in the Latin music scene.

The newly formed partnership is further strengthened by the involvement of Sony Music Latin Iberia, which retains its stake in Dale Play Records. Key figures instrumental in finalizing this deal include Rob Stringer, chairman of Sony Music Group and CEO of Sony Music Entertainment; Afo Verde, the chairman/CEO of Sony Music Latin America, Spain, and Portugal; along with Brad Navin and Jason Pascal from The Orchard. Their combined expertise and resources are expected to elevate the collaborative efforts between the two labels significantly.

Fede Lauria, the visionary Argentine executive who founded Dale Play Records, will maintain a smaller ownership percentage while continuing in his role as CEO. The Orchard will persist in distributing Dale Play’s music, ensuring continuity in their operations. Notably, the label’s other business verticals, including artist management and booking—which encompass renowned talents like Duki, Nicki Nicole, and Bizarrap—will remain under Lauria’s sole purview, allowing him to steer these aspects independently.

This groundbreaking partnership unites two independent companies that have significantly transformed the landscape of Latin music production and promotion on a global scale. Both entities have been instrumental in nurturing and capitalizing on the burgeoning wave of urban music in Spanish, with Rimas leading the charge from Puerto Rico and Dale Play emerging from Argentina. Their shared vision and international aspirations promise to redefine the future of Latin music, as Rimas has already broadened its roster by signing artists from Spain and Mexico, including Quevedo and Latin Mafia.

“From the outset, our mission has been to nurture and develop artists while honoring their authentic identities,” stated Rimas Entertainment CEO Noah Assad. “The relationship we’ve built with Federico and Dale Play is grounded in trust and mutual respect. This alliance empowers us to explore new frontiers and create invaluable opportunities for our artists and teams.” This commitment to artist development highlights the core values driving both organizations.

In a previous discussion with Billboard, Assad remarked that this acquisition marks Rimas’ first major venture into expanding its portfolio. It stems from a long-standing friendship and years of collaborative efforts between him and Lauria, showcasing a deep-rooted connection in the industry. This foundational relationship lays the groundwork for a fruitful partnership that is poised to reshape the dynamics of Latin music.

“We are collaborating closely, adding value to each other’s strengths,” Assad emphasized. “The collaboration was already in place; we are merely formalizing a partnership that has been organically developing.” This statement reflects the seamless integration of their visions and operations, which is expected to yield significant results for both labels and their artists.

Lauria, once a prominent concert promoter in Argentina, established the label segment of his business, Dale Play Records, in 2017, focusing on the emerging rap and trap music scene that has gained traction in Argentina. With over 1 million annual ticket sales, his company has demonstrated remarkable success. Sony Music joined as a partner in 2020, solidifying the label’s position in the competitive music industry.

“Afo and I have shared a longstanding friendship, united by a mission to elevate Latin music to unprecedented heights,” Lauria stated. The new partnership with Rimas symbolizes a culmination of years of collaboration with Noah, Jomy, and the RIMAS team. “We share a vision and values that align closely. Our companies operate as comprehensive entities with similar philosophies, which is a rarity in the global market. We handle management, booking, labels, and publishing, and the synergy between our ecosystems presents tremendous potential for mutual growth and collaboration.”

Adding to the excitement, Afo Verde expressed his admiration for the accomplishments of both Fede and Noah, describing them as representatives of the new generation of executives and label leaders. He commended their independent spirit and innovative approaches, stating, “It is a privilege to continue our partnership with them, and it’s exciting to see them collaborate.” This endorsement underscores the confidence in the synergy between the two labels.

The professional journey of Assad and Lauria traces back to the early days of Bad Bunny, when he performed in smaller venues across Buenos Aires, which Lauria was instrumental in booking. Today, Lauria continues to promote Bunny’s major stadium and arena shows in Argentina. Their collaborative efforts have spanned multiple artist projects, and discussions about a potential partnership began three years ago, gaining momentum over the last year.

“This strategic alliance is vital for broadening our global reach and connecting with talent across various regions,” stated Jonathan “Jomy” Miranda, president of Rimas Entertainment. “Our commitment to discovering and supporting emerging artists remains unwavering, and this partnership equips us with the tools to extend our influence and develop the next wave of stars in the music industry.” This vision emphasizes the importance of collaboration in fostering new talent.

“Rimas will retain its unique identity, and Dale Play will maintain its distinctiveness,” Lauria affirmed during his conversation with Billboard, when discussing the future management structure of the labels. He emphasized that both labels have played crucial roles in cultivating cultural movements, stating, “We are in the process of shaping artists in Spain and Mexico who are neither Argentine nor Puerto Rican. Our collaboration empowers us significantly in this endeavor.”

According to Assad, numerous factors converged to facilitate the partnership at this time. “We seek a partner who possesses a clear vision and understands their objectives and direction,” he noted. “Culturally, we share a wealth of commonalities, which is the driving force behind this strategic alliance.” This alignment of values and objectives positions both labels for shared success in the evolving landscape of Latin music.