US-based Warner Music Group Corp (WMG) has acquired minority stakes in Rotana Music label owned by Prince Al-Waleed bin Talal for strategic positioning in the Middle East region.
“We’re thrilled to be joining with Rotana, whose significant presence in the market reflects its extraordinary roster of musical icons and outstanding talent,” said WMG’s President, International, Recorded Music Simon Robson.
“We’re especially excited about the opportunity to both expand our profile in the region and to bring these amazing artists to audiences across the globe.”
The New York-based record label conglomerate has not disclosed the value of the investment but the deal will reportedly boost WMG’s presence in the Middle East and North Africa (MENA), and includes an agreement for ADA Worldwide, its label services division, to distribute Rotana releases globally outside the region.
Established in 1993 and headquartered in Riyadh, Rotana Music is the largest record label in the Arab world.
It has produced dozens of artists across the region. Its portfolio of Arab artists includes Mohamad Abdo, Abdulmajid Abdallah, RabehSaqer, Rashed Al-Majed, Abdallah Ruwaished, Ahlam, Amr Diab, Elissa, Tamer Hosny, NajwaKaram, ShereenAbdalwahab, Angham, WaelKfoury and Saber Al-Robae.
Warner Music Group Corp (WMG) buys minority stakes in Saudi Rotana Music
