LISBON (CelebrityAccess) — Record label Panela Rec Portugal announced the formation of a new administration and co-publishing deal with BMG Spain.
The agreement will expand opportunities for recording artists in the Portuguese market and will build bridges between the Portuguese and Spanish music industries while opening doors in the Brazilian and Latin American markets, the companies said.
Javier Doria, head of publishing department at BMG Spain, stated “Panela Rec will play a key role in BMG not only in Spain and Portugal, but also on the other side of the Atlantic. In the near future we want to develop new creative opportunities in the local market and introduce our composers to new audiences through our global network”.
“The agreement between Panela Rec Portugal and BMG Spain represents a strategic alliance for the development of the publishing business practically non-existent in Portuguese territory. There will be a greater rapprochement between both markets through the creation of new songs and collaborations of artists and authors from both territories. With this model, both publishers intend to create new catalogs and improve the existing catalogs of several Portuguese composers and authors. From another perspective, there will also be an approach to the Brazilian and Latin American markets, where Panela Rec is also based”, stated Tiago Araújo, managing partner of Panela Rec.
David Guimarães, who holds the same position in the company, added that “it is an honor to join forces with BMG Spain. With this partnership, we will be able to offer even more opportunities, through writing camps, songwriting sessions and collaborations with some of the top artists in these markets. We are very excited to create the next hit songs between the two teams.” Rony Padilha, Managing Partner and CEO of Panela Rec, notes that this partnership will allow “traversing the Spanish and Portuguese markets like never before. We intend to value and develop the careers of new authors through their professionalization in the industry, and this agreement comes to overcome several of the difficulties encountered in the market, which has always been a battle for Panela Rec since its foundation, through the articulation of a team in Spain that will join the team already in place in Portugal and BMG Spain.”
