Major music companies form joint venture to develop Ecuadorian artists

The short version

• Universal Music Group and Warner Chappell Music launched Sonido Distrito Sur, a joint venture based in Ecuador.[Billboard]
• The venture is led by singer-songwriter Juan Fernando Velasco alongside music executive Ricardo Ordóñez.[Billboard]
• The company plans to develop local artists and expand their presence into Peru, Colombia, and Central America.[Billboard]

Key facts

• Universal Music Group and Warner Chappell Music teamed up to create Sonido Distrito Sur.[Billboard]
• The company is led by Ecuadorian musician Juan Fernando Velasco and executive Ricardo Ordóñez.[Billboard]
• Sonido Distrito Sur officially debuted during Sayce Music Week in Ecuador.[Billboard]
• The enterprise aims to grow across the Andean region and introduce acts to markets including Peru, Colombia, and Central America.[Billboard]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.

• Universal Music Group & Warner Chappell Launch Ecuadorian Music Company Sonido Distrito SurBillboard