Business and Economy
Cuban state music company expands deal with Sony
Wordmark of Sony, in an extended version of Clarendon (Photo By Hautala – Sony Corporation, Public Domain)
HAVANA— Cuba’s main state-run music company is expanding its business with entertainment giant Sony in a sign of continuing progress in U.S.-Cuban business relations.
Cuba’s Musical Editions and Recording Company, known by its Spanish acronym EGREM, holds the rights to works by thousands of Cuban artists, including renowned musicians such as Benny More, Chucho Valdes and Omara Portuondo.
Under a deal signed Wednesday, U.S.-based Sony/ATV, the world’s leading music publisher, will license rights to songs in EGREM’s catalogue to clients in the television and film industry, and streaming services, among other clients.
Sony/ATV officials said they were receiving a standard commission from sales of EGREM property but declined to discuss the precise terms of the deal. Sony Music signed a 2015 deal to distribute EGREM artists’ albums worldwide.
